His death triggers the sale of the Don Lee Network (a station group including KFRC AM/FM in San Francisco and KHJ AM/FM in Los Angeles) to General Tire, forerunner of RKO General.
General Tire was interested mainly in using the RKO film library to program its television stations, so it sold the RKO lot at Sunset and Gower in Hollywood to Lucille Ball and Desi Arnaz's Desilu Productions in 1956 for $6 million.
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General Tire's final move into entertainment was the acquisition of RKO Radio Pictures from Howard Hughes in 1955 for $25 million.
With Edward Herzog, he worked to preserve the stock of spare parts for Crosley automobiles and trucks when the parent company Crosley Motors, Incorporated was sold to General Tire in July 1952 and production halted on July 3 of that year.
O'Neil's career began with the General Tire and Rubber Company, which his father William F. O'Neil had founded.
In December, 1942, announcement was made of the sale of Winter Street Corp., the holding company for Shepard family interests, to General Tire and Rubber for $1.24 million.
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