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Concept
Kinney National Company
Summary
Kinney National Service, Inc. (later known as Kinney Services, Inc.) was an American conglomerate company from 1966 to 1972. Its successors were National Kinney Corporation and Warner Communications, Time Warner, AOL Time Warner, and WarnerMedia and its current successor is Warner Bros. Discovery. Kinney National's predecessors were Kinney Service Corporation and National Cleaning Contractors, Inc., whose merger began in January 1966 and was completed in August of the same year. National Cleaning Contractors had been founded in 1886 by Louis Frankel and Max Sweig as National Window Cleaning & House Renovating Co., and was later known as National House Cleaning Contractors, Inc.
The company was formed on August 12, 1966, as Kinney National Service, Inc., when the Kinney Parking Company and the National Cleaning Contractors, Inc. were merged. The new company was headed by Steve Ross.
Kinney National Company (later, National was removed from the company title in February 1971) was known for purchases and sales:
On July 21, 1967, Kinney National expanded by acquiring National Periodical Publications (more commonly, but not yet officially, called DC Comics, which would occur in 1977) which owned Mad (magazine) of E. C. Publications. The acquisition was completed on August 25 of the same year.
On November 13, 1967, Kinney bought Hollywood talent agency Ashley-Famous. Ted Ashley (the founder of Ashley-Famous) suggested to Ross that he buy out the cash-strapped film company Warner Bros.-Seven Arts, which had purchased Atlantic Records that same month.
In February 1968, Kinney acquired Panavision, Inc.
On October 8 of the same year, Kinney National sold its subsidiary Kinney System Rent-A-Car to Sandgate Corporation for about $11-million in cash and notes.
On January 28, 1969, it was announced that Kinney National would acquire Warner Bros.-Seven Arts. The acquisition was completed on July 4. On April 20, Ashley-Famous was sold because of antitrust laws prohibiting a company from owning both a production studio and a talent agency.
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