Summa_Corporation Summa_Corporation

Summa Corporation - Definition
Related Words: Agency, Barbershop, Bench, Cartel, Combine, Company, Concern, Conglomerate, Consortium, Desk

Summa Corporation was the name adopted for the business interests of Howard Hughes after he sold the tool division of Hughes Tool Company in 1972. The tool division would merge with Baker International in 1987 to form Baker Hughes, the world's third-largest oil-services company.

This new holding company contained Hughes' varied investments including extensive properties, KLAS-TV in Las Vegas, Hughes Air West, the Hughes Sports Network, Toolco Aircraft (later Hughes Helicopters) and other investments. Hughes Aircraft remained part of the Howard Hughes Medical Institute until its sale to General Motors in 1995.

Howard Hughes died in 1976 at the age of 71, leaving no will. Administrators were appointed lead by his cousin William Lummis. Hughes Helicopters was sold to McDonnell Douglas for $500 million.

In September 1994 Summa Corporation was renamed The Howard Hughes Corporation. This merged with the Rouse Company in 1996. This combined group was sold to General Growth Properties in 2004.


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