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Sony Pictures
Sony Pictures Entertainment Inc., commonly referred to as Sony Pictures and formerly known as Columbia Pictures Entertainment, Inc., is an American diversified multinational mass media and entertainment studio conglomerate that produces, acquires, and distributes filmed entertainment (theatrical motion pictures, television programs, and recorded videos) through multiple platforms. Through an intermediate holding company called Sony Film Holding Inc., it is operated as a subsidiary of Sony Entertainment Inc., which is itself a subsidiary of the Japanese holding conglomerate Sony Group Corporation.
Based at the Sony Pictures Studios lot in Culver City, California, as one of the "Big Five" major American film studios, it encompasses Sony's motion picture, television production and distribution units. Sony Pictures is a member of the Motion Picture Association (MPA). Sony's film franchises include The Karate Kid, Ghostbusters, Jumanji, Men in Black, 28 Days Later, Spider-Man, and Sony's Spider-Man Universe.
On September 1, 1987, the Coca-Cola Company announced plans to spin off Columbia Pictures, which it had owned since 1982. Under this arrangement, Coca-Cola would sell its entertainment assets (Coca-Cola's Entertainment Business Sector) to TriStar Pictures, of which it owned 39.6%. Tri-Star would be renamed Columbia Pictures Entertainment, Inc. (CPE), with Coca-Cola owning 49%, its shareholders owning 31%, and Tri-Star's shareholders owning 20%. As part of a merger plan, the two television divisions Columbia/Embassy Television and Tri-Star Television, merged altogether to form a new incarnation of Columbia Pictures Television.
The merger enabled three top Tri-Star executives, namely Arnold Messner, who ran Tri-Star Telecommunications, Victor A. Kaufman, who ran the main Tri-Star Pictures studio, and Scott Siegler, who ran Tri-Star Television to stay on, while four of the Coca-Cola Entertainment Business Sector departed, namely Barbara Corday, who ran Columbia/Embassy Television as president, Herman Rush and Peter Seale, who ran Coca-Cola Telecommunications, and Brian McGrath, who was the president of the Coca-Cola Entertainment Business Sector. In early December 1987, former Coke EBS vice president Kenneth Lemberger exited the post to join Tri-Star Pictures, displacing Roger Faxon, who had joined Columbia Pictures as senior vice president of the studio.
The merger was approved by shareholders on December 15, 1987, and it was completed three days later. Columbia and Tri-Star brands would be used as separate and autonomous production entities, and would be part of CPE as a whole, along with the prior assets, units and commitments of the former Coca-Cola Entertainment Business Sector, which included all feature, television, home video, and pay cable operations as well as the Entertainment Sector's feature production deal with Nelson Entertainment and its investment in Castle Rock Entertainment, and TeleVentures; a company it continues to own, which was linked to three independent companies: Tri-Star Pictures, Stephen J. Cannell Productions and Witt/Thomas Productions. Merv Griffin Enterprises continues to function as a separate operation. A new company was formed in early 1988 with the Tri-Star name to take over the studio's operations.
In early January 1988, CPE announced that they would revive the Triumph branding for the new worldwide subsidiary, Triumph Releasing Corporation, which was functioned as a theatrical distributor, marketing and promotion for Columbia and Tri-Star films, and named Patrick N. Williamson as president of the unit and the company provided administrative services related to distribution of its films in North America, while internationally, would be responsible for the direction of each studio.
On September 28, 1989, Sony obtained an option to purchase all of The Coca-Cola Company's stock (approximately 54 million shares or 49% of the outstanding shares) in CPE for $27 per share. The next day, Sony also announced that it reached an agreement with Guber-Peters Entertainment Company, Inc. (NASDAQ: GPEC; formerly Barris Industries, Inc.) to acquire GPEC for $200 million when Sony hired Peter Guber and Jon Peters to be its co-chairmen. This was all led by Norio Ohga, who was the president and CEO of Sony during that time.
The hiring of Guber and Peters by Sony to run Columbia was conflicted by a previous contract the producers had signed at Warner Bros. Time Warner's chairman, Steve Ross, threatened Sony with a lawsuit for breach of contract. The lawsuit would be subsequently dropped when Sony sold half-interest in Columbia House and cable distribution rights to Columbia's feature films, TV movies, and miniseries to Warner Bros. That same agreement also saw Columbia sell its 35% interest in the Burbank Studios and acquired Lorimar Studios, previously the MGM lot, from Warner Bros.
Sony Pictures
Sony Pictures Entertainment Inc., commonly referred to as Sony Pictures and formerly known as Columbia Pictures Entertainment, Inc., is an American diversified multinational mass media and entertainment studio conglomerate that produces, acquires, and distributes filmed entertainment (theatrical motion pictures, television programs, and recorded videos) through multiple platforms. Through an intermediate holding company called Sony Film Holding Inc., it is operated as a subsidiary of Sony Entertainment Inc., which is itself a subsidiary of the Japanese holding conglomerate Sony Group Corporation.
Based at the Sony Pictures Studios lot in Culver City, California, as one of the "Big Five" major American film studios, it encompasses Sony's motion picture, television production and distribution units. Sony Pictures is a member of the Motion Picture Association (MPA). Sony's film franchises include The Karate Kid, Ghostbusters, Jumanji, Men in Black, 28 Days Later, Spider-Man, and Sony's Spider-Man Universe.
On September 1, 1987, the Coca-Cola Company announced plans to spin off Columbia Pictures, which it had owned since 1982. Under this arrangement, Coca-Cola would sell its entertainment assets (Coca-Cola's Entertainment Business Sector) to TriStar Pictures, of which it owned 39.6%. Tri-Star would be renamed Columbia Pictures Entertainment, Inc. (CPE), with Coca-Cola owning 49%, its shareholders owning 31%, and Tri-Star's shareholders owning 20%. As part of a merger plan, the two television divisions Columbia/Embassy Television and Tri-Star Television, merged altogether to form a new incarnation of Columbia Pictures Television.
The merger enabled three top Tri-Star executives, namely Arnold Messner, who ran Tri-Star Telecommunications, Victor A. Kaufman, who ran the main Tri-Star Pictures studio, and Scott Siegler, who ran Tri-Star Television to stay on, while four of the Coca-Cola Entertainment Business Sector departed, namely Barbara Corday, who ran Columbia/Embassy Television as president, Herman Rush and Peter Seale, who ran Coca-Cola Telecommunications, and Brian McGrath, who was the president of the Coca-Cola Entertainment Business Sector. In early December 1987, former Coke EBS vice president Kenneth Lemberger exited the post to join Tri-Star Pictures, displacing Roger Faxon, who had joined Columbia Pictures as senior vice president of the studio.
The merger was approved by shareholders on December 15, 1987, and it was completed three days later. Columbia and Tri-Star brands would be used as separate and autonomous production entities, and would be part of CPE as a whole, along with the prior assets, units and commitments of the former Coca-Cola Entertainment Business Sector, which included all feature, television, home video, and pay cable operations as well as the Entertainment Sector's feature production deal with Nelson Entertainment and its investment in Castle Rock Entertainment, and TeleVentures; a company it continues to own, which was linked to three independent companies: Tri-Star Pictures, Stephen J. Cannell Productions and Witt/Thomas Productions. Merv Griffin Enterprises continues to function as a separate operation. A new company was formed in early 1988 with the Tri-Star name to take over the studio's operations.
In early January 1988, CPE announced that they would revive the Triumph branding for the new worldwide subsidiary, Triumph Releasing Corporation, which was functioned as a theatrical distributor, marketing and promotion for Columbia and Tri-Star films, and named Patrick N. Williamson as president of the unit and the company provided administrative services related to distribution of its films in North America, while internationally, would be responsible for the direction of each studio.
On September 28, 1989, Sony obtained an option to purchase all of The Coca-Cola Company's stock (approximately 54 million shares or 49% of the outstanding shares) in CPE for $27 per share. The next day, Sony also announced that it reached an agreement with Guber-Peters Entertainment Company, Inc. (NASDAQ: GPEC; formerly Barris Industries, Inc.) to acquire GPEC for $200 million when Sony hired Peter Guber and Jon Peters to be its co-chairmen. This was all led by Norio Ohga, who was the president and CEO of Sony during that time.
The hiring of Guber and Peters by Sony to run Columbia was conflicted by a previous contract the producers had signed at Warner Bros. Time Warner's chairman, Steve Ross, threatened Sony with a lawsuit for breach of contract. The lawsuit would be subsequently dropped when Sony sold half-interest in Columbia House and cable distribution rights to Columbia's feature films, TV movies, and miniseries to Warner Bros. That same agreement also saw Columbia sell its 35% interest in the Burbank Studios and acquired Lorimar Studios, previously the MGM lot, from Warner Bros.
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