FXM Print Quality (or Lack Thereof)

Tonight I started to watch this, but gave up on it because the print quality was so poor. At the beginning it's grandly announced that we're watching a Cinemascope production, but the print wasn't letterboxed. Rather than do 'pan and scan', in some scenes we watched very tall very thin people. It looked like a homemade video where someone had set up a video camera in front of a TV that was playing the film. Really?

FXM has run letterboxed prints of THE DAY MARS INVADED EARTH and THE ALLIGATOR PEOPLE, widescreen black and white genre films from the same time period, and they looked great. Surely a major studio can do some restoration work on a film with such a good cast, even if it's not their shining hour.