MAJOR classic film discovered

[Dr Mordrid]

An original copy of King Kong discovered in the UK!!

Link.....

A workman has unearthed a vintage film reel of King Kong during the refurbishment of a West End cinema.

Joiner Ross McMillan discovered the ancient movie hidden behind a partition wall in a projection room in the Grosvenor Cinema.

The Ashton Lane landmark is undergoing a major refurbishment by Stefan King’s G1 Group.

And the tradesman almost threw out the canister while working at The Loft, which is being renamed the Grosvenor Café & Cinema.

The dusty old reel, which dates back to the 1930s, is thought to have been missing from US film production company RKO’s library vaults for more than 70 years.

And the workman originally thought he had unearthed hidden treasure before realising it was a dusty old film reel.

The movie discovered was the original 1933 version of Merian C Cooper’s King Kong which has been missing from the film company’s vaults since 1934.

Mr McMillan said: “I didn’t know what it was at first, I hoped it was hidden treasure but when I realised it wasn’t I was about to throw it in the skip.

“One of the cinema staff stopped me and took it away to find out what it was.

“When I heard it was an original version of King Kong, one favourite movies as a kid, I couldn’t believe it.”

The film is renowned for its pioneering special effects, stop motion models and early animation.

But the cinema projectionist got a shock after contacting the original distributor, when he discovered late fees for the film have mounted over the passing decades to more than £43,000 in today’s money.

Universal Pictures, which now owns RKO, has told cinema bosses it is willing to waive this fee to have the prestigious film reel back in its prized collection.
>

[Evildead666]

You can't have late fees if you don't know where the thing is. You lose it, its not late.

To me, thats the company saying they aren't going to pay any reward or anything.
Thats Low, very Low.

he should tell them to sod off, and flog it on ebay, at least a collector or someone will buy it

[Umfriend]

I would think that to avoid late fees you'd have to have had declared the item lost and compensated for damages according to the terms of the agreement under which the item was brought under your care. Even if you did, I would expect ownership to reside with RKO still if it was retrieved later.

Assuming RKO is the rightfull owner of the reel, selling it on ebay would be theft.

[VJ]

The question also is: why didn't RKO claim the film reel in the 30s? They could have sent reminders that they want the reel back...

While I agree with umfriend, I think there is some expiration possible on this ownership, esp. if the owner did not declare the item lost or stolen...

[TransformX]

Pay the late fees plus the penalty for 'losing' said article or just the penalty for losing said article plus the interest over the years. Then 'accidently find' it, but since it was paid for in full, put it o e-Bay!

[Umfriend]

That, of course, depends on the actual terms of the agreement on which we can only speculate (and ain't that fun!). First, I am not sure a penalty for loss of property implies a transfer of such. But even if it does and assuming the item had not been declared lost, one would now have to settle with RKO who might claim the value it feels it would have in a fair market (again, all depending on the original agreement).

In any case, declaring the object lost while already retrieved only to make a profit surely is acting in bad faith and probably fraud.

[Dr Mordrid]

Whatever the economic outcome, a find like this means a near perfect BR/DVD release is forthcoming - and possibly a remastered limited release showing in theaters. I'd certainly go.