This new holding company contained Hughes' varied investments including:
Howard Hughes died in 1976 at the age of 71, leaving no will. Administrators were appointed led by his cousin William Lummis. Most of Summa's operations were gradually liquidated. Summa's Nevada money losing mining interests were sold by the end of 1976, while KLAS-TV and Hughes Sports Network were both sold in 1978. Hughes Air West was sold to Republic Airlines in 1981, Hughes Helicopters was sold to McDonnell Douglas for $500 million in 1984. The hotel and casino properties were gradually sold off during the 1980s. As its original businesses were sold, Summa recast itself as a real estate developer, using the vast tracts of undeveloped land Hughes had amassed around Las Vegas as a starting point.
In September 1994 Summa Corporation was renamed The Howard Hughes Corporation, both to honor Howard Hughes and to fulfill his original intentions of keeping his name on the business.