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team and many others. Schenck's adroit business sense made him a wealthy man. In 1927, he and Joseph were reported to be worth about $ 20 million (approximately $ 500 million in today's money, possibly more), with a combined yearly income of at least a million. By some estimates, Nicholas
Schenck was
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Although
Schenck's power and prestige were at their peak after World War II, times were changing, as television loomed on the horizon. Like many in the motion picture industry, however, Schenck adamantly refused to get involved with the new medium. In 1951, Louis B. Mayer had a falling out with
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By 1932, Schenck was running an entertainment empire that consisted of a thriving theater circuit and MGM. The conglomerate, which
Schenck continued to manage closely from New York City, employed 12,000 people. Schenck, by demanding a tight production schedule, created tension with Mayer and
556:, the son of Marcus Loew, succeeded Nicholas Schenck as the company's president, although Schenck remained chairman of the board. The following year, when Arthur Loew resigned for health reasons, Schenck defied the other directors in the efforts to secure a new president. When
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with Mayer as studio chief. For reasons that remain unknown, Mayer and
Schenck disliked each other intensely; Mayer reportedly called Schenck "Mr. Skunk" in private. It was the start of a testy relationship that would last for almost four decades.
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Loew soon realized he needed someone in
Hollywood to run his studio interests. Schenck seemed the obvious choice, but Loew concluded that he needed Schenck in New York to help run the theaters. He bought a studio headed by independent producer
335:, arranged to buy controlling interest from Schenck. When Mayer found out about the sale, he was outraged; although he was a Loew's vice president, he was not a shareholder and had no say in the deal. Mayer went to the
362:, who was production chief until his early death in 1936. Nonetheless, thanks to Schenck's stringent management, MGM was successful, becoming the only film company that continued to pay dividends during the
267:, a theater operator. Loew persuaded them to buy two film theaters and the brothers started to work with Loew in the theater business. Between approximately 1907 and 1919, they reinvested in real estate for
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Schenck eventually became Loew's right-hand man, helping him manage what rapidly grew into a vast theater chain. In 1919, Schenck was named as vice president and general manager of
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In 1910, the
Schencks' theaters were grouped into Loew's Consolidated Enterprises. Loew, having noted the brothers' success, advanced them capital, permitting them to purchase
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had nearly wiped out his fortune. Schenck blamed Mayer for costing him millions, and this made an already icy relationship even worse. However, due to the
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602:, who acted under the name Marti Stevens, Joanne (born August 1, 1932) and Nicola (born December 13, 1933, in New York). Nicola married actor
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By the middle of the decade, the price of MGM shares was sagging and stockholders were growing restive. On
December 14, 1955,
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Shortly afterward, in the summer of 1929, Fox was seriously injured in a car accident. By the time he had recovered, the
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worked as a team running errands and selling newspapers while studying at the New York
College of Pharmacy at night.
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Nicholas
Schenck's first marriage ended in divorce. In 1927, he married socialite and former vaudeville entertainer
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became president, Schenck was named honorary chairman, but retired altogether later that same year.
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Under
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In 1927, Marcus Loew died suddenly, leaving control of Loew's to Schenck. In 1929,
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and, through his political connections, managed to get the deal stalled on
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the eighth richest individual in the United States during the 1930s.
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699:"Nick Schenck, L.B. Mayer's Boss, Dies Three Days After Vogel".
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Joseph relocated to Hollywood, eventually becoming president of
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Upon his arrival in the United States, he and his older brother
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Nicholas Schenck divided his last years between his estates at
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allowed it to retain a wide array of talent under its roof:
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Emigrants from the Russian Empire to the United States
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They subsequently began working in a drugstore in the
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Cobul, who raced under his wife's name, won the 1958
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in 1924, merging the Loew's Hollywood interests into
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in 1924 to keep the theaters supplied with product.
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and began casting about for other business ventures.
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One summer day, the Schencks took a trolley ride to
185:. With his parents, he and his brothers, George and
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243:, Columbia Pictures; Nicholas M. Schenck, Lowe's;
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587:(1898–1987), whose brother was director
165:One of seven children, Schenck was born to a
676:, jstandard.com; accessed October 10, 2021.
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303:. He helped shepherd Loew's acquisition of
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805:American people of Russian-Jewish descent
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532:Learn how and when to remove this message
598:Nicholas and Pansy had three daughters:
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800:American racehorse owners and breeders
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870:20th-century American businesspeople
810:Film producers from New York (state)
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301:United Artists Corporation
257:Fort George Amusement Park
235:front row, left to right:
19:For the screenwriter, see
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629:Schenck died following a
288:Bergen County, New Jersey
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727:. Turner Publications.
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331:, head of rival studio
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144:– 4 March 1969,
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179:Yaroslavl Governorate
150:film studio executive
105:Film studio executive
63:Yaroslavl Governorate
633:in Florida in 1969.
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333:Fox Film Corporation
835:People from Rybinsk
752:Nicholas M. Schenck
321:Metro-Goldwyn-Mayer
136:(14 November 1880,
134:Nicholas M. Schenck
830:People from Harlem
481:"Nicholas Schenck"
430:After World War II
419:Jeanette MacDonald
352:stock market crash
348:stock market crash
337:Justice Department
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585:Pansy Wilcox
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411:Judy Garland
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269:nickelodeons
259:, in uptown
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245:Will H. Hays
221:110th Street
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79:(1969-03-04)
785:1969 deaths
780:1880 births
573:Miami Beach
569:Long Island
565:Sands Point
547:Dore Schary
423:Nelson Eddy
395:Clark Gable
387:Jean Harlow
383:Greta Garbo
329:William Fox
295:Loew's Inc.
265:Marcus Loew
175:Volga River
120:Ruth Selwyn
93:Nationality
21:Nick Schenk
774:Categories
717:Háy, Peter
637:References
492:newspapers
375:Lon Chaney
273:vaudeville
241:Harry Cohn
161:Early life
101:Occupation
51:1880-11-14
449:does not
343:grounds.
341:antitrust
261:Manhattan
249:Leo Spitz
156:Biography
117:(brother)
111:Relatives
719:(1991).
191:tenement
702:Variety
506:scholar
470:removed
455:sources
177:in the
171:Rybinsk
146:Florida
138:Rybinsk
85:Florida
59:Rybinsk
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227:Career
213:Bowery
206:Joseph
199:Harlem
187:Joseph
167:Jewish
142:Russia
87:, U.S.
625:Death
615:filly
600:Marti
513:JSTOR
499:books
765:IMDb
756:IMDb
729:ISBN
485:news
453:any
451:cite
74:Died
45:Born
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