My theatre work experience began in 1983. So my knowledge of what went on with the film companies in the 70's is somewhat limited. However I have read up on and have seen documentaries on the motion picture industry. During the late 60's and 70's all of the major studios unerwent major changes including mergers/acquisitions. This was mainly due to the advent of smaller production companies that were separate from the studios. The "studio system" of film production that had been in place since the 20's basically collapsed.
I supposed that the sudden profitability of a dormant property belonging to Paramount could have just slipped through the cracks. And Matt Jefferies' coments could be summed up as "Where's my cut?"