Editing Columbia Pictures (section)

===1980s: Coca-Cola, Tri-Star, and other acquisitions and ventures===
On September 30, 1980, Kerkorian sued Columbia for ignoring shareholders' interest and violating an agreement with him.<ref name=":0" /> Columbia later accused him on October 2, of scheming with [[Nelson Bunker Hunt]] to gain control of Columbia.

In 1981, Kerkorian sold his 25% stake in Columbia back to CPI.<ref name=":0" /> Columbia Pictures later acquired 81% of [[Walter Reade|The Walter Reade Organization]], which owned 11 theaters; it purchased the remaining 19% in 1985.

Around this time, Columbia put [[Steven Spielberg]]'s proposed follow-up to ''[[Close Encounters of the Third Kind]]'', ''[[Night Skies]]'', into [[Turnaround (filmmaking)|turnaround]]. The project eventually became the highest-grossing film of the time, ''[[E.T. the Extra-Terrestrial]]''. Columbia received a share of the profits for its involvement in the development.<ref>{{cite news|work=[[Variety (magazine)|Variety]]|title=Exec Shifts Make Columbia the Gem of Commotion|date=November 22, 1989|page=1|last=Cohn|first=Lawrence}}</ref>

On May 17, 1982, Columbia Pictures acquired [[Spelling-Goldberg Productions]] for over $40&nbsp;million.<ref>Perry, pp. 28</ref><ref name="broadcasting19820517">{{cite magazine|date=May 17, 1982|title=Columbia buys Spelling-Goldberg|magazine=Broadcasting|page=42}}</ref> With a healthier balance-sheet (due in large part to box office hits like ''[[Kramer vs. Kramer]]'', ''[[Stir Crazy (film)|Stir Crazy]]'', ''[[The Blue Lagoon (1980 film)|The Blue Lagoon]]'', and ''[[Stripes (film)|Stripes]]'') Columbia was bought by beverage company [[The Coca-Cola Company]] on June 22, 1982, for $750&nbsp;million.<ref>{{Cite news|url=https://www.nytimes.com/1982/06/23/business/coke-completes-columbia-merger.html|title=Coke Completes Columbia Merger|date=June 23, 1982|work=[[The New York Times]]|access-date=March 14, 2010|agency=[[Associated Press]]|language=en-US|issn=0362-4331}}</ref> Studio head Frank Price mixed big hits like ''[[Tootsie]]'', ''[[Gandhi (film)|Gandhi]]'', ''[[The Karate Kid]]'', ''[[The Big Chill (film)|The Big Chill]]'', and ''[[Ghostbusters]]'' with many costly flops. To share the increasing cost of film production, Coke brought in two outside investors whose earlier efforts in Hollywood had come to nothing. In 1982, Columbia, [[Time Inc.]]'s [[HBO]] and [[CBS]] announced, as a joint venture, "Nova Pictures"; this enterprise was to be renamed [[TriStar Pictures|Tri-Star Pictures]].<ref>{{cite news |id={{ProQuest|147616787}} |last1=Brown |first1=Merrill |title=TV Merger Hits Snag At Justice: Staff Opposes Plan Of HBO Rivals: Baxter Undecided Staff Opposes Plan For Pay TV Merger |newspaper=The Washington Post |date=May 25, 1983 |page=D9 }}</ref> In 1983, Price left Columbia Pictures after a dispute with Coca-Cola and went back to Universal.<ref>{{cite news |title=Price is Leaving Columbia |url=https://news.google.com/newspapers?nid=1734&dat=19831010&id=X1ocAAAAIBAJ&sjid=vFIEAAAAIBAJ&pg=5777,4137849 |work=The Dispatch |date=October 10, 1983|via=Google News|access-date=August 15, 2012}}</ref> He was replaced by [[Guy McElwaine]].<ref>{{cite news|work=[[Variety (magazine)|Variety]]|title=Columbia In-House Productions – 1978–89|date=November 22, 1989|page=16}}</ref>

In the early 1980s, Columbia and Tri-Star Pictures set up a film partnership with Delphi Film Associates and acquired an interest in various film releases. In 1984, Delphi Film Associates III acquired an interest in the Tri-Star and Columbia film slate of 1984, which would make a $60&nbsp;million offering in the financing of film production.<ref>{{Cite news|date=February 15, 1984|title=7 Tri-Star Pix in Delphi III Float; Gross Cut as Invester Protection; HBO, CBS Deals: 'Fair Market'|page=3|work=[[Variety (magazine)|Variety]]}}</ref> Also that year, Columbia Pictures had bought out the rights to ''[[Hardbodies]]'', which was once premiered on [[Playboy TV|The Playboy Channel]].<ref>{{Cite news|date=March 7, 1984|title=Col Buys R-Rated Sex Comedy, Once Set for The Playboy Channel|page=10|work=[[Variety (magazine)|Variety]]}}</ref>

Columbia Pictures expanded its music publishing operations in the 1980s, acquiring Big 3 Publishing (the former sheet music operations of Robbins, [[Leo Feist, Inc.|Feist]], and [[Miller Music Publishing Co.|Miller]]) from [[Metro-Goldwyn-Mayer|MGM/UA Communications Co.]] in 1983, Belwin-Mills Publishing from [[Simon & Schuster]] in 1985, and Al Gallico Music in 1987.<ref>{{Cite news| last = Irv Lichtman| title = Columbia Pictures To Acquire Big 3| magazine = Billboard| date = February 12, 1983|url=https://books.google.com/books?id=9iMEAAAAMBAJ&pg=PT39|via=Google Books}}</ref><ref>{{cite news |id={{ProQuest|397955995}} |title=Gulf & Western Unit Sells Belwin-Mills Publishing |work=The Wall Street Journal |date=March 25, 1985 }}</ref><ref>{{cite news |id={{ProQuest|292549635}} |title=Columbia gained several popular song copyrights |work=Los Angeles Times  |date=February 4, 1987 }}</ref>

On June 18, 1985, Columbia's parent acquired [[Norman Lear]] and [[Jerry Perenchio]]'s Embassy Communications, Inc. (including [[Embassy Pictures]], Embassy Television, [[Tandem Productions]], and Embassy Home Entertainment), mostly for its library of television series such as ''[[All in the Family]]'' and ''[[The Jeffersons]]'', for $485&nbsp;million.<ref name="Norman Lear 1985-6-18">{{cite web|url=http://www.normanlear.com/backstory_press_3.html|title=Coke buys Embassy: 485 million|archive-url=https://web.archive.org/web/20110722071434/http://www.normanlear.com/backstory_press_3.html |archive-date=July 22, 2011|website=normanlear.com}}</ref> On November 16, 1985, CBS dropped out of the Tri-Star venture.<ref>{{Cite news|url=https://www.nytimes.com/1985/11/16/business/cbs-sells-stake-in-tri-star-inc.html|title=CBS Sells Stake In Tri-Star Inc.|date=November 16, 1985|work=The New York Times|access-date=May 16, 2019|agency=[[Associated Press]]|language=en-US|issn=0362-4331}}</ref>

Many changes occurred in 1986. Expanding its television franchise, on May 5, Columbia's parent also bought [[Merv Griffin Enterprises]] for $250&nbsp;million. The company was notable for: ''[[Wheel of Fortune (American game show)|Wheel of Fortune]]'', ''[[Jeopardy!]]'', ''[[Dance Fever]]'', and ''[[The Merv Griffin Show]]''.<ref name="broadcasting19860512">{{cite magazine|date=May 12, 1986|title=Structuring and restructuring|magazine=Broadcasting|page=66}}</ref><ref>{{Cite news|url=https://content.time.com/time/subscriber/article/0,33009,961342,00.html|title=Fizz, Movies and Whoop-De-Do|last=Russell|first=George|date=May 12, 1986|magazine=[[Time (magazine)|Time]]|access-date=May 16, 2019|language=en-US|issn=0040-781X}}</ref> Months later on August 28, the Columbia Pictures Television Group acquired [[Danny Arnold]]'s Danny Arnold Productions, Inc.. The deal included Arnold's rights to the sitcom ''[[Barney Miller]]'' (Four D Productions) among other produced series such as ''[[Fish (American TV series)|Fish]]'' (The Mimus Corporation), ''[[A.E.S. Hudson Street]]'' (Triseme Corporation), and ''[[Joe Bash]]'' (Tetagram Ltd.). Arnold had dropped the federal and state lawsuits against the television studio, who was accusing them of [[Competition law|antitrust]] violations, fraud, and breach of [[Fiduciary|fiduciary duty]].<ref>{{cite news |url=https://apnews.com/50b6146fe983b49d631795746d0bd2dc |title=COKE TO BUY FILM CONCERN TO SETTLE SUITS |date=August 29, 1986 |publisher=[[AP News Archive]] |access-date=November 30, 2013}}</ref><ref>{{Cite news|url=https://www.nytimes.com/1986/08/30/business/company-news-coke-suit-pact.html|title=COMPANY NEWS; Coke Suit Pact|date=August 30, 1986|work=[[The New York Times]]|access-date=May 17, 2011|agency=Associated Press|language=en-US|issn=0362-4331}}</ref><ref>{{cite news|url=https://news.google.com/newspapers?nid=1310&dat=19860829&id=w3ozAAAAIBAJ&sjid=s-EDAAAAIBAJ&pg=4751,7211700|title=Coke Gets 'Barney Miller'|work=Eugene Register-Guard|via=Google News|access-date=November 30, 2013}}</ref> 

Coca-Cola sold the Embassy Pictures division to [[Dino de Laurentiis]], who later folded Embassy Pictures into Dino de Laurentiis Productions, Inc. The company was renamed as [[De Laurentiis Entertainment Group]]. Coca-Cola also sold Embassy Home Entertainment to [[New Line Home Entertainment|Nelson Entertainment]]. Coca-Cola, however, retained the Embassy Pictures name, logo, and trademark. HBO was the last partner to drop out of the Tri-Star venture and sold its shares to Columbia<ref>{{cite book |first=Stephen |last=Prince |url=https://archive.org/details/newpotofgold00step |url-access=registration |title=A New Pot of Gold: Hollywood Under the Electronic Rainbow |publisher=University of California Press |location=Berkeley, Calif. |year=2002 |orig-year=2000 |isbn=9780520232662 |series=History of the American Cinema Vol. 10 |page=[https://archive.org/details/newpotofgold00step/page/31 31] |access-date=August 13, 2013}}</ref> Tri-Star later expanded into the television business with its new [[TriStar Television|Tri-Star Television]] division.

The same year, Columbia recruited British producer [[David Puttnam]] to head the studio. Puttnam attempted to defy Hollywood filmmaking by making smaller films instead of big tentpole pictures. His criticism of American film production, in addition to the fact that the films he greenlit were mostly flops, left Coke and Hollywood concerned.{{Clarify|date=June 2013}}

Puttnam then discontinued multi-picture pacts with various filmmakers, including [[Norman Jewison]], which was permitted to expire before all of the promised product could be delivered.<ref>{{Cite news|date=April 1, 1987|title=Columbia Letting Multipic Pacts With Jewinson, Others Expire|page=37|work=[[Variety (magazine)|Variety]]}}</ref> Under Puttnam's control, he set up a $270&nbsp;million package of in-house pictures and acquisitions, and the average lineup of 25 features was expected to be $10.78&nbsp;million, about $4&nbsp;million less of the cost at Columbia before Puttnam came on board, and a number of low-cost acquisitions such as [[Spike Lee]]'s $5&nbsp;million picture ''[[School Daze]]''.<ref>{{Cite news|last=Tusher|first=Will|date=April 8, 1987|title=Col Sets $270-Mil Package Of In-House Pics, Acquisitions As Part of David Puttman's Initial Program|pages=3, 26|work=[[Variety (magazine)|Variety]]}}</ref>

On October 22, 1986, Greg Coote was appointed by Columbia Pictures as key executive of the studio, to complement David Puttman's pledge on Columbia Pictures to fix its sights over its international market.<ref>{{Cite news|date=October 22, 1986|title=Col Looking To Put Australia's Coote Into Key Exec Slot|page=6|work=[[Variety (magazine)|Variety]]}}</ref> On December 17, 1986, the company acquired a 30% share in Roadshow, Coote & Carroll, a company Greg Coote headed, and decided that they would pick up films and miniseries to put an effort to add it up to Columbia's shares, and listed dozens of theatrical and television films and dozens of miniseries throughout the addition of the Columbia slate.<ref>{{Cite news|last=Groves|first=Don|date=December 17, 1986|title=Greg Coote Hoping Columbia Would Pick Up Films, Miniseries|pages=22, 33|work=[[Variety (magazine)|Variety]]}}</ref>

On June 26, 1987, Coca-Cola sold The Walter Reade Organization to [[Cineplex Odeon Corporation]].<ref>{{cite news |url=|title=Cineplex Odeon acquires New York's Walter Reade theatre circuit. (Walter Reade Organization Inc.) |date=June 26, 1987 |publisher=[[PR Newswire]] |access-date=}}</ref> On October 14, 1987, Coca-Cola's entertainment division invested in $30&nbsp;million in [[Castle Rock Entertainment]] with five Hollywood executives. Coke's entertainment business division owned 40% in Castle Rock, while the execs owned 60%.<ref name="NewsBank">{{cite news|url=http://nl.newsbank.com/nl-search/we/Archives?p_product=AT&p_theme=at&p_action=search&p_maxdocs=200&p_topdoc=1&p_text_direct-0=0EB7C2F05DE50C09&p_field_direct-0=document_id&p_perpage=10&p_sort=YMD_date:D|title=Coca-Cola (originally written as Cokca-Cola) division invests in film production company|website=nl.newsbank.com|access-date=May 16, 2014|archive-url=https://web.archive.org/web/20210224164902/http://nl.newsbank.com/nl-search/we/Archives?p_product=AT&p_theme=at&p_action=search&p_maxdocs=200&p_topdoc=1&p_text_direct-0=0EB7C2F05DE50C09&p_field_direct-0=document_id&p_perpage=10&p_sort=YMD_date:D|archive-date=February 24, 2021}}</ref>

====Columbia Pictures Entertainment era (1987–1989)====

The volatile film business made Coke shareholders nervous, and following the critical and box-office failure of ''[[Ishtar (film)|Ishtar]]'', Coke spun off its entertainment holdings on December 21, 1987, and sold it to Tri-Star Pictures for $3.1&nbsp;billion. Tri-Star Pictures, Inc. was renamed as Columbia Pictures Entertainment, Inc. (CPE), with Coke owning 80% of the company.<ref>Dick, p. 46.</ref> Both studios continued to produce and distribute films under their separate names.<ref>{{Cite news|url=https://www.latimes.com/archives/la-xpm-1987-09-02-fi-3400-story.html|title=Coke, Tri-Star Confirm Plans for $3.1-Billion Deal|last=Harris|first=Kathryn|date=September 2, 1987|work=[[Los Angeles Times]]|access-date=May 16, 2019|language=en-US|issn=0458-3035}}</ref>

Puttnam was ousted from the position after only one year.<ref>Prince, Stephen (2000) ''A New Pot of Gold: Hollywood Under the Electronic Rainbow, 1980–1989'' (pp. 54–58). [[University of California Press]], [[Berkeley, California|Berkeley]]/[[Los Angeles, California]]. {{ISBN|0-520-23266-6}}</ref> Puttnam was succeeded by [[Dawn Steel]]. Other small-scale, "boutique" entities were created: [[Nelson Entertainment]], a joint venture with British and Canadian partners, [[Triumph Films]], jointly owned with French studio [[Gaumont (company)|Gaumont]], and which is now a low-budget label, and [[Castle Rock Entertainment]].

On January 2, 1988, Columbia/Embassy Television and Tri-Star Television were formed into the new Columbia Pictures Television and Embassy Communications was renamed as ELP Communications to serve as a copyright holder of the Embassy television productions. In early 1988, CPE relaunched [[Triumph Films]] as Triumph Releasing Corporation, which handled administrative services related to distribution of Columbia and Tri-Star's films for the North American market, while Triumph was responsible for the sales, marketing and distribution of Columbia and [[TriStar Pictures|Tri-Star]] films under the direction of each individual studio internationally, with Patrick N. Williamson serving as head of Triumph.<ref>{{Cite news |date=January 6, 1988 |title=Columbia Resurrects 'Triumph' |page=7 |work=[[Variety (magazine)|Variety]]}}</ref>

On January 16, 1988, CPE's stock fell slightly in the market on its first day trading in the [[New York Stock Exchange]]. Coke spun off 34.1&nbsp;million of its Columbia shares to its shareholders by reducing its stake in CPE from 80% to 49%.<ref>{{Cite news|url=https://www.latimes.com/archives/la-xpm-1988-01-16-fi-9327-story.html|title=Columbia Pictures' Stock Has Weak Wall St. Debut|last=Knoedelseder|first=William K. Jr.|date=January 16, 1988|work=Los Angeles Times|access-date=August 8, 2013|language=en-US|issn=0458-3035}}</ref> On April 13, 1988, CPE spun off Tri-Star Pictures, Inc. as a reformed company of the Tri-Star studio.<ref>{{cite web|url=http://appext20.dos.ny.gov/corp_public/CORPSEARCH.ENTITY_INFORMATION?p_nameid=1367154&p_corpid=1252551&p_entity_name=Tri-Star%20Pictures&p_name_type=%25&p_search_type=BEGINS&p_srch_results_page=0|title = State of New York Division of Corporations – Entity Search: Tri-Star Pictures, Inc.|access-date = August 5, 2013}}</ref> In April 1988, CPE sold its music publishing operations to the British company Filmtrax.<ref>{{Cite news| volume = 100| issue = 16| pages = 1–77| last = Hunter| first = Nigel| title = Filmtrax Buys Columbia, Mogull Pub Companies| magazine = Billboard| date = April 16, 1988|via=worldradiohistory.com|url=https://worldradiohistory.com/Archive-All-Music/Billboard/80s/1988/BB-1988-04-16.pdf}}</ref> (Filmtrax was acquired by [[Thorn EMI]] in 1990.)<ref>{{cite news |id={{ProQuest|281273979}} |last1=Shiver |first1=Jube |title=Thorn EMI Buys Filmtrax Catalogue for $115 Million Music: The huge collection of songs owned by the company includes 'Stormy Weather' and 'Against All Odds' |work=Los Angeles Times |date=August 9, 1990 }}</ref> In June 1988, CPE announced the sale of Columbia Pictures Publications (consisting of the print music operations) to the investment firm Boston Ventures and was renamed CPP/Belwin.<ref>{{cite news |id={{ProQuest|398049094}} |title=Business Brief: Columbia Pictures Entertainment |newspaper=The Wall Street Journal |date=June 3, 1988 }}</ref> CPP/Belwin was acquired by [[Warner Chappell Music]] of Warner Bros. in 1994.<ref>{{cite news |id={{ProQuest|388726870}} |last1=Weaver |first1=Jay |title=MELODIC MERGER PRINT MUSIC DIVISIONS UNITE TO FORM WORLD'S BIGGEST PUBLISHING OPERATION |work=Sun Sentinel |date=October 5, 1994 }}</ref>

On February 2, 1989, Columbia Pictures Television formed a joint-venture with Norman Lear's Act III Communications called Act III Television (now Act III Productions) to produce television series instead of managing.<ref>{{Cite news|url=https://www.latimes.com/archives/la-xpm-1989-02-02-fi-2616-story.html|title=Norman Lear, Columbia Form Joint TV Venture|last=Knoedelseder|first=William K. Jr.|date=February 2, 1989|work=Los Angeles Times|access-date=June 19, 2013|language=en-US|issn=0458-3035}}</ref><ref>{{Cite news|url=https://www.nytimes.com/1989/02/02/business/lear-joins-with-columbia-to-produce-tv-not-manage.html|title=Lear Joins With Columbia To Produce TV, Not Manage|last=Stevenson|first=Richard W.|date=February 2, 1989|work=The New York Times|access-date=June 19, 2013|language=en-US|issn=0362-4331}}</ref>