How much did MGM pay for the rights to L. Frank Baum's book?

A pretty penny in those days, but it was actually highway robbery given how much profit the book has generated over the years. Unfortunately, L. Frank was not a great businessman. He lost his shirt investing in a theater production, declared bankruptcy, and then had to relinquish his royalty rights to the book.

Asked by Susanna Henke · Last updated 5 years ago · 1.6K views · SOURCE