Post War Era
On November 25, 1947, Albert Warner and other executives in the motion picture industry issued the Waldorf Statement, first promulgating the Hollywood Blacklist. Around this time, Albert also bought a second mansion in Miami Beach, Florida, where he lived for most of the remaining years of his life. By 1956, the studio was losing money and Albert wanted to retire and live full-time in his Miami Beach house.
In May 1956, the brothers announced they were putting Warner Bros. on the market. Jack, however, secretly organized a syndicate headed by Boston banker Serge Semenenko that purchased 90% (800,000 shares) of the company's stock. After the three brothers sold their stock, in an under-the-table deal with Sememenko, Jack officially joined Semenenko's syndicate and bought back all his stock, which consisted of 200,000 shares. The deal officially completed in July. Now the company's largest stockholder, Jack appointed himself as the new company president. By the time Harry and Albert learned of their brother's subterfuge, it was too late.
Albert read about Jack's dealings while spending time in New York City. He never spoke to Jack again, but he did later rejoin the company's board of directors to keep Jack "from stealing the stockholders blind."
Albert Warner died in 1967 in Miami Beach. A funeral service was held in Los Angeles. Warner was then interred in Brooklyn, next to his first wife Bessie Krieger. After Albert's second wife Bessie Warner died in 1970 she was interred with him as well in Brooklyn.
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