NBC Evening News for Tuesday, Mar 15, 1977
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(Studio) Papers filed in Las Vegas, NV, court today estimate Howard Hughes estate less than general estimated, in millions, not billions. New figs. face skepticism.
REPORTER: John Chancellor
(Los Angeles, California) Parts of estate include: (1) Las Vegas hotel-casinos The Sands, Landmark Frontier, Castaways and Desert Inn; (2) Hughes Communication Network; (3) Hughes Air West; (4) land on Las Vegas strip and outside Los Angeles Marina Del Rey; and (Studio) Hughes Helicopter Company Hughes Aircraft Company not part of estate because it's owned by Hughes Med. Institute, tax-free institution. Tax experts not surprised at lesser valuation of estate and say IRS (Internal Revenue Service) may not agree. Worth of estate to be settled in court
REPORTER: Roy Neal