PolyGram Filmed Entertainment
A British-American film studio that challenged Hollywood.
PolyGram Filmed Entertainment was a British-American film production company founded in 1975 as an American film studio. It grew into a European competitor to Hollywood within two decades before being sold to Seagram in 1998 and folded into Universal Pictures in 1999. The company produced notable films such as The Deep, Midnight Express, Batman, Four Weddings and a Funeral, Fargo, and The Big Lebowski.
Quick Facts
- Fate
- Acquired by Seagram and folded into Universal Pictures
- Predecessor
- Casablanca Records & Filmworks
- Founder
- Peter Guber (original)
- Michael Kuhn (relaunch)
- Malcolm Ritchie (relaunch)
- Founded
- 1975 (original); 1987 (relaunch)
- Defunct
- 1983 (original); 1999 (relaunch)
- Owners
- PolyGram (50%, 1977–1980)
- Siemens (1980–1988)
- Philips (1980–1998)
- Seagram (1998–1999)
- Parent
- PolyGram (1980–1998); Universal Pictures (1998–1999)
- Divisions
- PolyGram Film Distribution
- PolyGram Television
- PolyGram Video
- PolyGram Visual Programming
Facts from the source article.
Overview
In 1975, Peter Guber formed FilmWorks, which merged with Casablanca Records in 1976 to become Casablanca Record & FilmWorks. PolyGram acquired a 50% stake by 1977 and the remaining 50% in 1980, renaming the film unit PolyGram Pictures. During the late 1980s and early 1990s, PolyGram invested in a diversified film unit by purchasing individual production companies. In 1995, it bought ITC Entertainment for $156 million. In May 1998, PolyGram was sold to Seagram for $10 billion; Seagram was interested only in the music division and sold off film and television assets. The pre-March 1996 PFE library went to MGM for $250 million, the ITC library to Carlton Communications for £91 million, and the US distribution operation to USA Network. The remains of the film division were folded into Universal Pictures. MGM owns most of the pre-April 1996 library; the post-March 1996 library is owned by NBCUniversal. On February 11, 2017, Universal Music Group established PolyGram Entertainment, resurrecting the PolyGram name.
History
In 1975, Peter Guber left Columbia Pictures to start FilmWorks. A year later, during production of The Deep, it merged with Casablanca Records to form Casablanca Record & FilmWorks, which had success with The Deep and Midnight Express. PolyGram bought its share in 1977. In 1979, Casablanca Record & FilmWorks left Columbia Pictures for Universal Pictures, gaining creative control. In 1980, PolyGram took full stake and renamed it PolyGram Pictures; Guber ran as CEO. Guber partnered with Jon Peters, who co-produced A Star Is Born. The first film under the Universal/PolyGram alliance, King of the Mountain (1981), was a box-office flop, followed by more money-losers. Ancillary markets were not yet established, and broadcast networks paid less for film licenses. European investors lost about $80 million on the film division. Siemens parted with Philips. Guber and Peters left in 1982, taking plans for a new Batman movie and other projects to Warner Bros.; PolyGram retained 7.5% of profits from some projects, including the 1989 Batman film. In 1980, PolyGram launched a syndicated television division, PolyGram Television, headed by Norman Horowitz; both film and television units closed by 1983 after a string of first-run syndication strip flops.
Production companies
PolyGram Filmed Entertainment acquired Working Title Films in 1991, Propaganda Films in 1991, and 51% of Interscope Communications in 1992 (the remainder in 1994). It launched Gramercy Pictures with Universal in 1992 and acquired ITC Entertainment in 1995. Other holdings included A&M Films, Island Pictures (acquired December 1994, closed 1997), Cinéa, Meteor Film Productions (acquired 1994), PolyGram Video, 4 Front Video, Spectrum Video, a 75% majority stake in Abbey Home Entertainment (acquired 1995, sold back in 1998), Channel 5 Video, Vision Video Ltd, Astrion Plc, PolyGram Television, and PolyGram Visual Programming.
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