Kinney National Company

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Not to be confused with National Kinney Corporation, a later business formed as a post-reorganisation spinoff.

Kinney Services Inc.
FormerlyKinney Service Corporation (1961–1966)
Kinney National Service Inc. (1966–1971)
Kinney Services Inc. (1971–1972)
Company typePublic
NYSE: KSR (1962-1966) NYSE: KNS (1966-1972)
Industry
PredecessorKinney Parking System (1945–1961)
National Cleaning Contractors Inc. (1886 –1966)
FoundedDecember 26, 1961; 63 years ago (1961-12-26) (as Kinney Service Co.)
August 12, 1966 (1966-08-12) (as Kinney National Service)
Founder
DefunctAugust 12, 1966 (1966-08-12) (merger with National Cleaning)
February 10, 1972 (1972-02-10) (renamed to Warner Communications)
FateMerger and incorporation as Kinney National Service Inc.; reincorporation as Warner Communications Inc. in 1972
SuccessorWarner Communications
Headquarters10 Rockefeller Plaza,
New York City, New York
,
United States
Key people
Divisions
Subsidiaries

Kinney Services Inc., (originally Kinney National Service, Inc.) was an American media conglomerate and holding company located in New York City. It was created through the merger of Kinney Service Corporation (founded December 1961) and National Cleaning Contractors, Inc (established 1886). [1] It oversaw numerous service businesses including funeral homes, parking facilities, and maintenance firms. Kinney pivoted to entertainment after many high-profile media acquisitions, most notably Warner Bros.-Seven Arts. [2] By the 1970s, Kinney Services underwent restructuring and separated its non-media holdings to National Kinney Corporation (a separate company) in 1971 and reincorporated as Warner Communications.

Background and development

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Main articles: Riverside Memorial Chapel, Kinney Parking Company, and Steve Ross (businessman)
The main Riverside Chapel (pictured in 2019)

Kinney Service Corporation

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Kinney Service Corporation was founded on December 26, 1961, through a four-way merger involving Riverside Memorial Chapel, Inc., Kinney System Inc (Kinney Parking System), City Service Cleaning Contractors, and Kinney System Rent-A-Car. Each company involved had developed throughout New York and New Jersey. Kinney Service traded on the American Stock Exchange under the ticker symbol of (KSR) after going public in April 1962. It reported revenues exceeding $17 Million at the time of its public offering. [3]

Riverside Memorial Chapels

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The Riverside Memorial Chapels are an American-Jewish funeral chain with eight locations throughout New York and Florida. The funeral chain was founded in 1897 as Meyer's Livery Stable by Louis Meyer and his son-in-law, Charles Rosenthal. The company moved its operations throughout Manhattan, starting in the Lower East Side, then to East Harlem, and finally the Upper West Side in 1926, where its three story Neo-French-Renaissance-style facility was constructed. By 1933, Meyer's & Company separated into Riverside Memorial Chapel, Inc and Park West Memorial Chapel.[4] Charles Rosenthal, while still a director of the company, passed management to his two sons, Edward and Morton Rosenthal. The brothers oversaw Riverside's expansion through acquiring the Frank E Campbell, Chapel Universal Funeral Chapel, Inc., and Echearria Sons Corporation along with establishing sister Riverside Chapel sites throughout New York and Florida,[5] leading Riverside Memorial to become the then-largest funeral service group in the United States. [6]

Kinney Parking Systems

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Kinney Parking System (renamed Kinney System Inc.) was one of the largest parking operators in the Northeastern United States[7] While little information surrounds the company's origins, Connie Bruck's 1995 Biography, Steve Ross and the Creation of Time Warner provides details about its early history along with its founder, Manny Kimmel. Kinney Parking was incorporated in 1945 and was granted leases to two of Newark's biggest parking lots in 1948. The company was majority owned by Manny and his son, Caesar Kimmel, the then-President of Kinney Parking. Manny Kimmel engaged in racketeering during the Prohibition Era and was rumored to have worked with criminals like Abner Zwillman and Roy Dornbusch. The FBI kept information on Manny until the 1960s and documents described him as a bootlegger who engaged in gambling and horse-racing.

Steve Ross and Abbey Rent-A-Car

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Steven Ross was born and raised in Brooklyn and worked as a clothing salesman until the mid 1950s. Steve met Carol Rosenthal (daughter of Edward Rosenthal) in 1953, and the two married by 1954. Growing dissatisfied with job by 1956, Steve accepted an offer from Edward to become a funeral director at the main Riverside Chapel. Despite no prior experience in the deathcare industry, Steve grew accustomed to his new role. By 1958, Steve suggested renting out the chapel's limousines during nighttime to generate extra income. This idea led Steve, Edward, and several associates to create a separate car rental company called Abbey Rent-A-Car. The business struggled and was nearing closure by 1960. Steve contacted Caesar Kimmel (President of Kinney Parking), and they agreed to rebrand the car rental business as Kinney Rent-A-Car, with Kinney Parking receiving a 25% stake in return. These efforts did little to improve the car rental's financial performance, but led Caesar, Steve, and Edward to conclude that the parking and rental companies would better preform as one company, leading to a merger between both companies.

The merger between Kinney Parking System and Kinney Rent-A-Car was changed to a four-way merger after Edward brought in his funeral business, Riverside Memorial Chapel and City Service Cleaning Contractors (a cleaning business managed by his relatives). The merger lasted for several months and was completed on December 26, 1961. The resulting holding company, Kinney Service Corporation, was founded as a private company, but later became public. Its executive management included Steve Ross as President, Edward Rosenthal as the first Chairman, and Caesar Kimmel as Vice-President. The company's largest shareholders were its executives. [8]

Kinney Services' early years and National Cleaning's history

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10 Rockefeller Plaza (pictured in March 2022), which served as the headquarters of Kinney National Service

In February 1962, Kinney Service Corporation was preparing to go public on the American Stock Exchange. The company reported revenues exceeding $17 Million and Its holdings included Kinney System Inc. (previously known as Kinney Parking System), Riverside Memorial Chapel Inc., Kinney Rent-A-Car Inc., and City Service Cleaning Contractors. Kinney Services went public in April 1962, under the ticker symbol of (KSR) and in November 1962, it chose 10 Rockefeller Plaza as its corporate headquarters. In the same year, Kinney Services purchased two car rental companies in Long Island.

Kinney Services bought two printing companies and expanded its holdings in the cleaning industry in 1963 by acquiring Terminal Cleaning Contractors, Inc. In 1964, Kinney Services acquired Walter B Cook, Inc (A funeral chain with eight locations in New York) for $70 Million. [9] Kinney Services merged with National Cleaning Contractors, Inc in 1966 for a $25 million deal. Following the merger, executives from National Cleaning joined Kinney Services and the combined company, Kinney National Service Inc., began trading under the ticker symbol of (KNS) on the New York Stock Exchange. [10]

National Cleaning Contractors

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National Cleaning Contractors was established in New York City during 1866 as National Window Cleaning & House Renovating Co. Its founders were Max Sweig and Louis Frankel. Max Sweig immigrated to America from Austria-Hungary (now Austria) and was the company's Vice-President and one of its directors. The company started out a window shop and was renamed to National Window Cleaning & House Co. By 1926, Louis Frankel's son, William V. Frankel joined the company and during the 1930s, it was renamed to National House Cleaning Contractors. Max Sweig died in 1937 [11] and his son, Morton Sweig, joined the company. William V. Frankel was President of National Cleaning until 1965.

Pivot to entertainment

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Media Acquisitions and Service Industry Exit

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Kinney Service Corporation took its new name on August 12, 1966,[12] as Kinney National Service, Inc., after completing its merger with National Cleaning Contractors Inc., one of New York's oldest cleaning window companies, formed in 1886. William V. Frankel joined Kinney as its Chairman, while Edward stepped down to become Vice-Chairman.

Kinney National Service (National was removed from the company name in February 1971[13]) engaged in a string of high-profile media acquisitions along with a multitude of service-related acquisitions:

Warner Bros.-Seven Arts, the biggest acquisition done by Kinney National
  • In 1967, Kinney National acquired Star Circle Wall Systems, Inc., and Hudson Painting and Decorating
  • In the same year, Kinney also acquired Circle Floor Co., Inc. (managed by Paul Milstein and Seymour Milstein). The Milsteins would join Kinney as executives. [14] Kinney acquired multiple service companies in 1967. These included Schatz Painting Company, Circle Acoustics Corporation, the Star Carpentry Companies, and Wachtel Plumbing Company.
  • On July 21, 1967, Kinney National expanded by acquiring National Periodical Publications (predecessor to DC Comics) which owned the Mad magazine of E. C. Publications, Inc. The acquisition was completed on August 25 of the same year for $30 Million
  • On November 13, 1967, Kinney National bought Hollywood talent agency Ashley-Famous for $12 Million.[15] 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.[16]
  • In February 1968, Kinney acquired Panavision, Inc.
  • In Late 1968, Kinney National acquired Hackensack Trust Company for $23 Million [17]
  • On January 28, 1969, it was announced that Kinney National would acquire Warner Bros.-Seven Arts, Ltd.[18] The acquisition was completed on July 4, 1969, for a $400 Million deal.[19] On April 20, Ashley-Famous was sold because of existing antitrust laws prohibiting a company from owning both a production studio and a talent agency. In August, Ted Ashley became chief of the film company.[20] On December 16, Warner Bros.-Seven Arts Inc. was rebranded as Warner Bros. Inc.[21] Beginning with the unexpected success of the concert documentary Woodstock (1970), Warner Bros. started scoring box office hits again and became a major studio.
  • Kinney National acquired 99% of Hackensack Trust Back between January and February 1969. Following this acquisition, Charles A. Agemian was elected a Director of Kinney National (a position he retained with Warner Communications) [22]
  • In 1970, Kinney National bought Jac Holzman's Elektra Records and Nonesuch Records. In the same year, Kinney National signed a lease to the 75 Rockefeller Plaza (known as the Esso Building during development). Kinney moved to the building in 1973 after it became Warner Communications.
  • The Kinney Parking System acquired Katz Parking and its President, Daniel Katz, became CEO of Kinney Parking. Kimmel would monitor the business until he left for Warner Communications, with Kinney System being left in complete control by Daniel until his sudden death in 1986. Lewis Katz succeeded Daniel as President.
  • In February 1971, Kinney National changed its name to Kinney Services Inc.
  • In June 1971, Kinney Services sold all its funeral businesses to Service Corporation International for $30 Million

Spinoff and reorganization

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Logo of Warner Communications

Kinney Services announced plans in June 1971 to separate into two distinct companies: one focused on media and entertainment, and the other towards the service industry. On August 7, 1971, Kinney Services' non-entertainment assets (with exception to Hackensack Bank) were spun off as a separate company named National Kinney Corporation. On December 13, 1971, Kinney Services' directors suggested renaming the company after Warner Bros. [25] and it would reincorporate as Warner Communications Inc. on February 10, 1972, [26] and traded on the New York Stock Exchange as WCI. Steve Ross was WCI's sole CEO, President, and Chairman. William V. Frankel previously held the position of Chairman until his death on July 1, 1972. [27] Morton Rosenthal, Caesar Kimmel, Edward Rosenthal, and Charles A. Agemian each retired from Warner Communications between 1976 to 1984. [28][29] Warner Communications enjoyed stability [30] until its decline with Atari and fended off a merger attempt by News Corporation. In 1990, Warner and Time Inc. merged to form Time Warner (now Warner Bros. Discovery). Steve passed away in December 21, 1992, [31] and was succeeded by Gerald Levin as CEO and Chairman of the Board.

Former Assets

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Sold to Sandgate Corporation

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In its early years of business, Kinney Services treated Kinney Rent-A-Car as its flagship division or "crown jewel", but the rental division began to lag behind its sister divisions and was eventually sold to Sandgate Corporation for $11 Million on October 1, 1968. It's likely Kinney also sold its two Long Island car leasing firms, to Sandgate as well. [32]

  • Kinney Rent-A-Car

Sold to Service Corporation International

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Kinney Services sold its funeral companies to SCI for $30 million in June 1971, officially ending its involvement in the deathcare industry. Edward and Morton Rosenthal remained as executives at Kinney (renamed Warner Communications), marking the end of the Riverside being a family business.[33] The funeral homes sold included:

  • Riverside Memorial Chapel, Inc (Currently operates 8 Riverside Chapels in New York and Florida, down from a peak of 10 in 1962) [34]
  • Frank E Campbell (Acquired by Riverside in 1948) [35]
  • Universal Funeral Chapel, Inc. (Acquired by Riverside in 1955)
  • Walter B Cook Inc
  • Echearria Sons Corporation

Divested for Anti-Trust

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After the acquisition of Warner Bros.-Seven Arts, Kinney National divested Ashely-Famous as Anti-Trust laws at the time prohibited a company from owning both a film studio and a talent agency.

  • Ashley-Famous was sold on April 20, 1969, to Marvin Josephson. Its founder, Ted Ashley, stayed with Kinney National and served as the chairman of Warner Bros. from 1969-1980. It was Ashley who personally suggested to Steve Ross that Kinney acquire Warner Bros. Ashely-Famous was renamed International Famous Agency (IFA) and became the first publicly traded talent agency. [36]

Spun off to National Kinney Corporation

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In September 1971, Kinney Services, which had already begun offloading its non-media divisions, separated all its service businesses to National Kinney Corporation (with exception to Hackensack Trust Company [37]). Only Caesar Kimmel, Edward Rosenthal, Morton Rosenthal, and William V. Frankel remained with Kinney Services while every other executive stemming from Kinney's service sector joined National Kinney. The businesses spun off included:

Works cited

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  • Bruck, Connie (April 1, 1995). Master of the Game: Steve Ross and the Creation of Time Warner (1st ed.). PENGUIN PUTNAM. ISBN 9780140244540.

References

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  1. ^ "BIG BOARD TO LIST KINNEY PREFERRED (Published 1966)". August 12, 1966. Retrieved August 6, 2025.
  2. ^ "Warner Bros. Picks New Chief Officer And Head of Board (Published 1969)". August 5, 1969. Retrieved August 6, 2025.
  3. ^ Hammer, Alexander R. (April 19, 1962). "Kinney Service Corp. Planning First Public Offering of Stock". The New York Times. ISSN 0362-4331. Retrieved July 17, 2025.
  4. ^ "Dignity Memorial: Riverside Memorial Chapel's history". dignitymemorial.com. Retrieved July 11, 2025.
  5. ^ "Charles Rosenthal, 89, Is Dead; Began Riverside Funeral Homes". The New York Times. June 30, 1966. ISSN 0362-4331. Retrieved July 11, 2025.
  6. ^ "Charles Salomon, Riverside Memorial Chapel A Gift for Helping People in Dark Times Community Builder". www.nypress.com. January 15, 2015. Retrieved August 6, 2025.
  7. ^ "COMPANY NEWS; CENTRAL PARKING TO PURCHASE KINNEY SYSTEM (Published 1997)". November 8, 1997. Archived from the original on July 6, 2012. Retrieved August 11, 2025.
  8. ^ "Diversified Kinney Service Is Growing Rapidly; Wide Interests of Company Pay Off in Steady Gains in Sales and Earnings". The New York Times. December 26, 1964. ISSN 0362-4331. Retrieved July 17, 2025.
  9. ^ "KINNEY ACQUIRES FUNERAL HOMES; Buys Walter B. Cooke, Inc., Through Stock Tenders (Published 1964)". December 4, 1964. Retrieved August 11, 2025.
  10. ^ Reckert, Clare M. (January 8, 1966). "KINNEY SERVICE PLANS EXPANSION; Proposing a Merger With National Cleaning". The New York Times. p. 33.
  11. ^ "MAX SWEIG; One of Founders of Company That Cleaned Large Buildings (Published 1937)". December 1, 1937. Retrieved August 26, 2025.
  12. ^ "The merge of Kinney Service & National Cleaning". Chicago Tribune. Newspaper.com. September 14, 1966. Retrieved November 8, 2020.
  13. ^ "Kinney National recalled as Kinney Services". The Evening Sun. February 17, 1971. Retrieved November 8, 2020 – via Newspapers.com.
  14. ^ "Milstein Opens Throttle as Builder". The New York Times. October 18, 1981.
  15. ^ "World of Business". Courier News. November 13, 1967. p. 14.
  16. ^ Musser, Charles; Harpole, Charles (1990). The Emergence of Cinema: The American Screen to 1907. Vol. 9. Scribner. ISBN 9780684804637.
  17. ^ "Kinney Seeking Bank (Published 1968)". November 1, 1968. Retrieved August 11, 2025.
  18. ^ "National News". The Los Angeles Times. February 25, 1969. p. 41.
  19. ^ "Market Briefs". National Post. July 19, 1969. p. 18.
  20. ^ "Ashley Named Chief of Warner-7 Arts". Valley Times. August 5, 1969. p. 2.
  21. ^ "Warner Bros. Drops Name of Seven Arts". Newspaper.com. Valley Times. December 16, 1969. Retrieved September 12, 2019.
  22. ^ "Kinney National Elects A Banker to Its Board (Published 1969)". January 29, 1965. Retrieved August 11, 2025.
  23. ^ "COLGATE IN OFFER FOR KENDALL CO". The New York Times. October 13, 1971.
  24. ^ Hammer, Alexander R. (November 23, 1971). "Kinney-TVC Terms Shift". The New York Times.
  25. ^ "Kinney Seeks Name Change (Published 1971)". December 15, 1971. Retrieved August 19, 2025.
  26. ^ "Kinney Changes Name". Des Moines Tribune. February 11, 1972.
  27. ^ Reckert, Clare M. (July 1, 1972). "William V. Frankel, 68, Dies; Led Warner Communications (Published 1972)". Retrieved August 11, 2025.
  28. ^ "Morton Rosenthal, 89; Helped Form Warner (Published 1998)". May 21, 1998. Retrieved August 11, 2025.
  29. ^ Kristof, Nicolas D. (October 22, 1984). "BUSINESS PEOPLE ; Another Officer Resigns at Warner (Published 1984)". Retrieved August 6, 2025.
  30. ^ Bender, Marilyn (August 13, 1972). "From Caskets to Cable (Published 1972)". Retrieved August 11, 2025.
  31. ^ Harris, Kathryn (December 21, 1992). "Steven Ross, Chairman of Time Warner, Dies at 65 : Business: The charismatic executive was the driving force in the global expansion of the media conglomerate". Los Angeles Times. Retrieved August 19, 2025.
  32. ^ "Sandgate in Kinney Deal". The New York Times. October 1, 1968.
  33. ^ Hammer, Alexander R. (June 10, 1971). "SOUTHWEST IN BID FOR RIEGEL PAPER". The New York Times.
  34. ^ "Riverside Chapels | Brooklyn, New York". Dignity Memorial. Retrieved August 10, 2025.
  35. ^ Vadukul, Alex (September 10, 2024). "Inside the Funeral Home for New York's Luminaries". Archived from the original on September 10, 2024. Retrieved August 11, 2025.
  36. ^ Murphy, J. Kim (May 19, 2025). "Marvin Josephson, Founder of ICM Partners, Dies at 95". Variety. Retrieved August 11, 2025.
  37. ^ "Crane Co. Assails Pact (Published 1970)". June 18, 1970. Retrieved August 11, 2025.