also reversed the reporting arrangement put in place in 1960, and from this point the Warner publishing arm reported to the record division under Maitland. The Billboard article also noted the enormous growth and vital significance of W7's music operations, which were by then providing most of Warner-Seven Arts' revenue—during the first nine months of that fiscal year, the recording and publishing divisions generated 74% of the corporation's total profit, with the publishing division alone accounting for over US$2 million of ASCAP's collections from music users. 1969–1972: Kinney takeover In 1969, Warner Bros.-Seven Arts was taken over by the Kinney National Company, headed by New York businessman Steve J. Ross, who would successfully lead the Warner group of companies until his death in 1992. The US$400 million deal created a new conglomerate that combined the Warner film, television, recording, and music publishing divisions with Kinney's multi-faceted holdings. Ross had founded the company in the late 1950s while working in his family's funeral business—seeing the opportunity to use the company's cars, which were idle at night, he founded a successful car hire operation, which he later merged with the Kinney parking garage company. Ross took the company public in 1962, and from this base it expanded rapidly between 1966 and 1968, merging with National Cleaning Services in 1966 to form the Kinney National Company, and then acquiring a string of companies that would prove of enormous value to the Warner group in the years ahead–National Periodical Publications (which included DC Comics and All American Comics), the Ashley-Famous talent agency, and Panavision. In the summer of 1969, Atlantic Records agreed to assist Warner Bros. Records in establishing overseas divisions, but when Warner executive Phil Rose arrived in Australia to begin setting up a subsidiary there, he discovered that just one week earlier Atlantic had signed a new four-year production and distribution deal with local label Festival Records without informing Warner Bros. During 1969, the rivalry between Mike Maitland and Ahmet Ertegun quickly escalated into an all-out executive battle, but Steve Ross favored Ertegun, and the conflict culminated in Maitland being dismissed from his position on January 25, 1970. He declined an offer of a job with Warner Bros. Pictures and left the company, subsequently becoming president of MCA Records. Mo Ostin was appointed president of Warner Bros. Records with Joe Smith as executive vice-president. In 1970, the 'Seven Arts' name was dropped