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41-706: In 1903, veteran publisher A.A. Bynon sold his interest in a newspaper called the Hollywood Sentinel to G.P. Sullivan, who became the paper's editor. The Sentinel received the Hollywood city contract for printing legal advertising in December 1903. In 1904 C.N. Whitaker, former editor of the Monrovia Messenger, bought the business, but on November 1 Morris & Ponay of Portland, Oregon, took it over. In 1905 Charles Mosteller of Los Angeles

82-416: A daily newspaper , so both journals were switching from weekly to daily publication in order to bid on the contract. The Los Angeles Herald commented that each paper would try to underbid the other for the city's advertising and that "The fight, which promises to be a hot one, will result in the city's printing being done at a greatly reduced figure, probably below cost, and in forcing the losing paper to

123-423: A capacity of 72,000 sixteen-page papers an hour, the latest in stereotyping , composing , engraving and photographic appurtenances, north-facing skylights , shower baths, lounges and sound-absorbing desks. Walls and ceilings have been made soundproof and floors insulated with a rubber-and-cork composition. In 2006 the 75-year-old building "underwent a million-dollar renovation to cater to the tastes of tenants in

164-580: A finance firm that was owed about half a million dollars sent in a team of security guards to take possession of the Citizen-News building. The next morning, according to the St. Louis Post-Dispatch, Richard Horton, the publisher, assembled a small army of 300 employes, lawyers and hangers-on and at 6 a.m. the following day launched a counterattack. Horton and some confederates slipped through an open window . . . The finance company still wouldn't agree to open

205-949: A forum for his ultra-conservative views." It said that revenues of the 27 weeklies in the Los Angeles group had fallen from $ 9 million a year to $ 5 million. Revenues were going to another group of weeklies that Copeland owned in Northern California , and he was paying himself a "consulting fee" of $ 13,000 a month. The Citizen-News was merged with the Valley Times , which ceased publishing under its own name in spring 1969. The Hollywood newspaper changed its name to Los Angeles Evening Citizen News in March 1970 and attempted to gain readers by switching its editorial policy from conservative to liberal. At one point in August 1970

246-537: A four-page, six-column weekly on Sunday, April 23, 1905, measuring 16 by 22 inches. The Los Angeles Times said that "its neat appearance caused much favorable comment." It was established by Ezekial Dunton Taylor (1842–1917), a veteran newspaperman originally from Ohio, who came to Los Angeles in 1902, and his son-in-law, W.C. Parcher. Taylor was editor until 1910, when he moved to the Owens Valley Herald. In 1911, Harlan G. Palmer, Sr. , began publishing

287-527: A parent company material influence if they are the largest individual shareholder or if they are placed in control of the running of the operation by non-operational shareholders.) In the United Kingdom, the term holding company is defined by the Companies Act 2006 at section 1159. It defines a holding company as a company that holds a majority of the voting rights in another company, or

328-567: A petition in bankruptcy court for an arrangement to pay its debts. The company went into receivership that month and was adjudged bankrupt on October 29, 1970. Copeland filed a petition for personal bankruptcy in October 1970. It was the largest such action ever filed in the United States. The final edition of the newspaper, with a black-bordered front page, was published on Friday, August 28, 1970. It had 321 employees, including 40 on

369-743: A report in the Tacoma (Washington) Times. "Cowley called at the Sentinel office to whip the editor and lost the battle," the Tacoma newspaper said. In 1911 E.E. Brown purchased both the Hollywood Sentinel and the Hollywood Citizen and was to combine the two newspapers. "By so doing," wrote the Alma (Michigan) Record, "he will have control of the newspaper business in a town of 7,000 people only 10 miles from Los Angeles." The Hollywood Inquirer

410-499: Is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own stock of other companies to form a corporate group . In some jurisdictions around the world, holding companies are called parent companies , which, besides holding stock in other companies, can conduct trade and other business activities themselves. Holding companies reduce risk for

451-643: Is a member of another company and has the right to appoint or remove a majority of its board of directors, or is a member of another company and controls alone, pursuant to an agreement with other members, a majority of the voting rights in that company. After the financial crisis of 2007–2008 , many U.S. investment banks converted to holding companies. According to the Federal Financial Institutions Examination Council 's website, JPMorgan Chase , Bank of America , Citigroup , Wells Fargo , and Goldman Sachs were

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492-478: Is defined by Part 1, Section 5, Subsection 1 of the Companies Act, which states: 5.—(1) For the purposes of this Act, a corporation shall, subject to subsection (3), be deemed to be a subsidiary of another corporation, if — In the United Kingdom, is generally held that an organisation holding a 'controlling stake' in a company (a holding of over 51% of the stock) is in effect the de facto parent company of

533-700: The Citizen-News would have separate editions for three districts of the Los Angeles area: (1) Hollywood and the metropolitan area, (2) Beverly Hills west to Santa Monica, and (3) the San Fernando Valley . In July 1964 Lammot du Pont Copeland Jr. , owner of the Valley Times in the San Fernando Valley, purchased the stock of the Citizen-News, including twenty-seven weeklies operated in the Los Angeles area. A spokesman said it

574-831: The Hollywood Citizen and was editor in 1917. Ira C. Copley of Aurora, Illinois , purchased the Hollywood News and the Glendale Daily Press from Frederick William Kellogg of Kellogg Newspapers, Inc. ( Pasadena Evening Post ) and his son, William Scripps Kellogg , effective February 15, 1928. He also bought the Alhambra Post-Advocate, Pasadena Evening Post, Monrovia Evening Post, Eagle Rock Daily Press, Burbank Daily Press, San Fernando Valley News, Sawtelle Evening Tribune, Santa Monica Evening Outlook, Venice Evening Vanguard , Culver City Star-News, Redondo Daily Breeze, Hermosa Daily Breeze and

615-457: The Inquirer in 1918 from Douglas Edwards and changed the style, format and name "to conform with the ideals that had proven highly successful under his direction at Oak Park, Illinois ." He sold the Inquirer around 1926 to Holly Leaves, Inc. (F.H. Hartwell, president). The Hollywood Weekly Sentinel preceded the Hollywood Citizen . The first edition of the Hollywood Citizen appeared as

656-532: The News building. The combined circulation was expected to reach "more than 30,000," it was said. The Citizen circulation was given as 20,000 and the News as "over 20,000." Harlan G. Palmer, Sr. owned and published its successor, the Hollywood Citizen News from the 1931 until 1956. In 1956, Harlan G. Palmer, Jr. , took over as publisher of the Hollywood Citizen News , until it was sold in

697-601: The San Pedro Daily News, effective September 1, 1928. These latter papers were to be taken over and operated by the Southern California Newspapers Associated, of which Samuel G. McClure would become president and general manager. To make the transaction, Copley said, he assumed shares of ownership in the new group. McClure said that the Hollywood News would be immediately expanded, but that no changes would be made in

738-481: The broadcast licenses to reflect this, resulting in stations that are (for example) still licensed to Jacor and Citicasters , effectively making them such as subsidiary companies of their owner iHeartMedia . This is sometimes done on a per- market basis. For example, in Atlanta both WNNX and later WWWQ are licensed to "WNNX LiCo, Inc." (LiCo meaning "license company"), both owned by Susquehanna Radio (which

779-442: The shareholders , and can permit the ownership and control of a number of different companies. The New York Times uses the term parent holding company . Holding companies can be subsidiaries in a tiered structure . Holding companies are also created to hold assets such as intellectual property or trade secrets , that are protected from the operating company. That creates a smaller risk when it comes to litigation . In

820-663: The 1960s, remaining an active publication until 1971. The Hollywood Citizen News and the Valley Citizen News were published together. The editorial staff struck and picketed the plant on May 17, 1938, in the first walkout called by the American Newspaper Guild in California. Managing editor Harold Swisher said other workers were being hired and that production employees were on the job as usual. Publisher Harlan G. Palmer discharged three of

861-566: The Guild members while negotiations were going on. Sontag Company filed suit against the Los Angeles Newspaper Guild and others, contending it was damaged by union pickets at its Hollywood drug store. A Superior Court judge issued a temporary restraining order against the union prohibiting it from picketing 166 companies that continued their advertising in the struck newspaper. The order against this secondary picketing

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902-446: The United States, 80% of stock, in voting and value, must be owned before tax consolidation benefits such as tax-free dividends can be claimed. That is, if Company A owns 80% or more of the stock of Company B, Company A will not pay taxes on dividends paid by Company B to its stockholders, as the payment of dividends from B to A is essentially transferring cash within a single enterprise. Any other shareholders of Company B will pay

943-531: The company had violated labor law when it denied bylines to some employees who had been involved in the strike. The court held that it was within the right of the employer to make such a decision for business reasons. Palmer died on July 25, 1956, and the publishership of the company was taken over by his son, Harlan G. Palmer Jr., who in 1961 sold it to David B. Heyler , owner of the Beverly Hills Citizen. In January 1962, Heyler announced that

984-407: The editorial staff. They had been working without pay in order to save the newspaper. The end meant there were only two daily newspapers published within the Los Angeles city limits, other than trade papers for the motion picture industry . The assets of the newspaper company, including its real estate, the building, and everything in it, were sold at auction on May 11, 1971. The Citizen office

1025-431: The firm, having overriding material influence over the held company's operations, even if no formal full takeover has been enacted. Once a full takeover or purchase is enacted, the held company is seen to have ceased to operate as an independent entity but to have become a tending subsidiary of the purchasing company, which, in turn, becomes the parent company of the subsidiary. (A holding below 50% could be sufficient to give

1066-458: The first body) is a subsidiary of another body corporate if, and only if: Toronto-based lawyer Michael Finley has stated, "The emerging trend that has seen international plaintiffs permitted to proceed with claims against Canadian parent companies for the allegedly wrongful activity of their foreign subsidiaries means that the corporate veil is no longer a silver bullet to the heart of a plaintiff's case." The parent subsidiary company relationship

1107-605: The five largest bank holding companies in the finance sector, as of December 2013 , based on total assets. The Public Utility Holding Company Act of 1935 caused many energy companies to divest their subsidiary businesses. Between 1938 and 1958 the number of holding companies declined from 216 to 18. An energy law passed in 2005 removed the 1935 requirements, and has led to mergers and holding company formation among power marketing and power brokering companies. In US broadcasting , many major media conglomerates have purchased smaller broadcasters outright, but have not changed

1148-455: The following requirements are met: A parent company is a company that owns enough voting power in another firm (or subsidiary ) to control management and operations by influencing or electing its board of directors . The definition of a parent company differs from jurisdiction to jurisdiction, with the definition normally being defined by way of laws dealing with companies in that jurisdiction. When an existing company establishes

1189-754: The media and entertainment industries," according to the Los Angeles Times. In 2014, S.E. Edinger, a real estate investor, bought the Citizen News Building. Legal advertising Too Many Requests If you report this error to the Wikimedia System Administrators, please include the details below. Request from 172.68.168.237 via cp1104 cp1104, Varnish XID 198339284 Upstream caches: cp1104 int Error: 429, Too Many Requests at Thu, 28 Nov 2024 07:57:16 GMT Holding company A holding company

1230-405: The newspaper had a liberal editorial voice and its staff were granted editorial autonomy and expected to adhere to standard journalistic ethics. Judge Harlan G. Palmer , the owner of the Hollywood Citizen since 1911, purchased the Hollywood News from Ira Copley in 1931 and combined the two papers under the name Citizen-News. The first issue appeared on Monday, November 2, 1931, published from

1271-547: The other papers. Copley said that a holding company to be known as the Copley Press would be created by the succeeding September and that F.W. Kellogg would have an interest in it. The Hollywood Citizen-News was a "flourishing medium-sized daily, concentrating its coverage on Hollywood ," according to the Van Nuys News. "In the late 1930s, the paper led many a reform fight in local government." Under Palmer,

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1312-489: The place up, so Horton told his employes to break in. They smashed several large plate glass windows and hustled — with the help of local police — the finance company guards out the door. The newspaper continued to publish for two weeks . . . The company was seized by the Internal Revenue Service in August 1970 for nonpayment of taxes. On the same day its publishing company, Graphic Production Corp., filed

1353-499: The usual taxes on dividends, as they are legitimate and ordinary dividends to these shareholders. Sometimes, a company intended to be a pure holding company identifies itself as such by adding "Holding" or "Holdings" to its name. The parent company–subsidiary company relationship is defined by Part 1.2, Division 6, Section 46 of the Corporations Act 2001 (Cth) , which states: A body corporate (in this section called

1394-425: The wall." In 1909, the Sentinel office was the scene of a fist fight occasioned by the refusal of editor Herbert F. Clark to print the poetry of W.D. Cowley unless it were paid for as advertising. Cowley, who was the caretaker at the home of Los Angeles Times publisher Harrison Gray Otis , refused to do so, and Clark thereupon wrote a column "casting reflections upon the character of Cowley's poetry," according to

1435-450: Was at 108 West Prospect Avenue in 1906 and at 1640 Cahuenga Avenue in 1912. The print shop was at 6426 Hollywood Boulevard in 1919. The Palmer Building Corporation in 1921 was erecting a three-story structure at the corner of Hollywood Boulevard and Cosmo Street for a new plant, at an investment of $ 250,000. It was to be completed on December 1 of that year. In 1930 a three-story art deco building designed by architect Francis D. Rutherford

1476-510: Was built for Copley's Hollywood News at 1545 Wilcox Avenue, between Hollywood and Sunset boulevards. It was opened on Wednesday, July 1, 1931, with a tour and reception featuring "public officials and film players." The offices were said to be "equipped with automatic Associated Press electric typewriters , financial tape machines , [and] teletypes for the City News Service." Other amenities were Goss multiple-unit press with

1517-600: Was later made permanent. The union took the matter to the National Labor Relations Board The strike ended on July 30, 1938, with an agreement between the two sides. Superior Judge Emmet Wilson, however, ruled that six guild members he had cited for contempt of court must stand trial. The union lost an appeal to the United States Circuit Court of Appeals which had been asked to rule on its claim, among others, that

1558-474: Was later sold to Cumulus Media ). In determining caps to prevent excessive concentration of media ownership , all of these are attributed to the parent company, as are leased stations , as a matter of broadcast regulation . In the United States, a personal holding company is defined in section 542 of the Internal Revenue Code . A corporation is a personal holding company if both of

1599-644: Was owned and published by Herschel Spencer Lander until 1914, when he sold out and moved to Paradise Valley, California . Homer Fort, who had been editor of the Monrovia (California) Messenger, purchased the business from Jay E. Randall in 1915. D.B. Peck was also an editor and publisher of the newspaper. Mrs. Mary Clough Watson was its first editor. Harry Elliot was the newspaper's editor in June 1916 and Martin Luther Helpman in 1917. O.M. Donaldson bought

1640-501: Was the largest community-newspaper group in the United States. Copeland appointed Richard M. Horton as publisher. The Los Angeles Times identified him as "a federal parolee with a long felony record and no previous newspaper experience." He had served time for a "real estate swindle in San Francisco and, later, parole violation." The St. Louis Post-Dispatch said that Copeland acquired the Los Angeles newspapers "apparently as

1681-461: Was the new owner of the Hollywood Sentinel. It was still being published in 1907 and 1909. In 1909 Mosteller, identified as the Sentinel's managing editor, said the newspaper would begin a daily edition in June, which would compete with the Hollywood Citizen . It was explained that the legal advertising for the City of Hollywood (which was then independent from Los Angeles) had to be published in

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