Chapter

Corporate Hollywood

Barry Langford

in Post-Classical Hollywood

Published by Edinburgh University Press

Published in print August 2009 | ISBN: 9780748638574
Published online September 2012 | e-ISBN: 9780748671076 | DOI: http://dx.doi.org/10.3366/edinburgh/9780748638574.003.0010
Corporate Hollywood

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The year 1982 marked the end of an era for the film industry in the United States, in more ways than one. Coca-Cola acquired Columbia Pictures, one year after oil tycoon Marvin Davis purchased Twentieth Century Fox. In 1985, Davis sold Fox to Rupert Murdoch's NewsCorp for $575 million, and Japanese electronics manufacturer Sony bought Columbia from Coke for $3.4 billion in 1989. Most eye-catching, perhaps, was the 1989 merger of Warner Communications with Time, Inc., which like the NewsCorp/Fox deal allied print and filmed entertainment interests. Of all the major companies at the start of the 1980s, Warner Communications' diversified media holdings made them best placed to exploit the synergistic dimensions of a blockbuster property such as Superman. The industrial logic of the new Hollywood was relentlessly expansionist: as their new corporate parents brought Fox and Columbia to the top table, so the existing media conglomerates looked to protect their own positions by further acquisitions and mergers.

Keywords: film industry; United States; Columbia Pictures; Marvin Davis; Twentieth Century Fox; Warner Communications; acquisitions; mergers; NewsCorp; Hollywood

Chapter.  12900 words. 

Subjects: Film

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