By , General Ice Shows, Inc., a subsidiary of Thomas Scallen's Medical Investment Corporation (Medicor) and parent company of Ice Follies, had purchased Holiday on Ice (North America) from Chalfen and Madison Square Garden Company. At that time, Chalfen had purchased $2.2 million in Medicor convertible subordinated notes, which when converted to stock would have made Chalfen the largest share of Medicor. Scallen had Medicor stall registering the notes and sold 400,000 Medicor shares to Arthur Wirtz. After lawsuits by HoI's Chalfen and Wirtz in 1976, Wirtz gained ownership of both shows.