LIFE: 30 MILLION DOLLAR GAMBLE

October 6, 1958

The October 6, 1958 (volume 45, #14) issue of LIFE included a multi-page article about Lucy and Desi’s purchase of RKO Studios.  In the above photo Desi clutches a book about famous novelists. Desilu Playhouse developed teleplays based on many great works of literature. 

The cover photo featured France Nuyen, star of the upcoming Broadway play The World of Suzie Wong opposite William Shatner. Nuyen later signed to reprise the role on screen but after five weeks of location shooting executive producer Ray Stark replaced her with Nancy Kwan, who was touring the United States and Canada as the understudy to the lead in the road company performing the play. 

LIFE was given access to Desilu for this article. Photographs were by Leonard McCombe. In 1945, at age 22, McCombe began working for Life Magazine. He became known for his candid work and an knack for seizing the moment in which people are at their most revelatory. 

$30 MILLION DESILU GAMBLE ~ talks about Lucy and Desi’s purchase of RKO Studios for $6 million in late 1957.  The sale actually included several properties, including the historic Forty Acres backlot where many series were shot, even when not produced by Desilu directly. The article names two new series that Desilu will produce: “The Walter Winchell File” (1957-1959) a fact-based crime anthology series, and “This is Alice” a sort of “Dennis the Menace” for girls starring Patty Ann Gerrity. It ran one season. 

DYNAMIC DESI GETS IN ALL THE ACTS ~ discusses Desi as Producer and Director, not to mention President, Husband and Actor. 

THEY GIVE A LOOK AT COMING SHOW ~ While this article was being written and photographed, Lucy and Desi were filming “Lucy Goes To Mexico” featuring Maurice Chevalier. 

It was the first episode of season two of the hour-long format of “I Love Lucy” and the first to be sponsored by Westinghouse. 

Speaking of Westinghouse, while all this was going on, Lucy and Desi filmed a studio tour promotional film to be shown to Westinghouse representatives. In it, Lucy pursues the Westinghouse salesman on the tour in order to outfit her dressing room with the latest appliances. Not coincidentally, this issue of LIFE and “Lucy Goes To Mexico” were released to the public on the very same day – October 5, 1958. 

HARD-WORKING RECREATION IS EARNED BY HARD WORK ~ The issue also looks at how the Arnaz family carving out some personal time in their busy schedule: Going to a ballgame with Desi Jr. and Keith Thibodeaux, a picnic with little Lucie and Desi Jr., a day at the racetrack, and fishing with the great Jimmy Durante. 

After their divorce in 1960, Desi Arnaz sold his shares in Desilu to Lucille Ball, making her the first President and CEO of a motion picture studio.  Ball sold the studios to Gulf + Western / Paramount in late 1967.