As a result of the decline many suburban ABC theatres closed. Most of those remaining began, from the late 1950s to lose their individual names and were simply branded "ABC". In 1959 Rank abandoned the separate Odeon and Gaumont release and put the best cinemas from each circuit onto a new Rank release. The remaining cinemas were given a new "National" release but this was unattractive to distributors and in 1961 Paramount switched to ABC after refusing a "National" release for the Dean Martin comedy "All in a Night's Work". The "National" release soon ended entirely and there were in future just ABC and Odeon release patterns. In 1967, Seven Arts, the new owners of Warner, decided to dispose of its holdings in ABPC and subsequently EMI launched a successful take-over bid for the company. Associated British Picture Corporation was later to be renamed Thorn-EMI Screen Entertainment Ltd, although the cinema chain retained its name. In 1986, this was later divested by EMI to the Australian businessman Alan Bond who sold the chain a few days later to the Golan & Globus "Cannon Cinemas" Group for a reported £50 million profit in seven days. EMI retained ABPC's lucrative television interests. Eventually, the advent of largely American owned multiplexes led to the end of barring and the old distributor alignments, which had in any case been rendered largely irrelevant by cinema closures often leaving only one cinema in a town, which had access to all films but usually had to give precedence to its traditional alignment (so an Odeon might have a poor "Rank" release in its biggest screen and a big "ABC" release in a small cinema and vice versa).