Editing Paramount Pictures (section)

===1966–70: Early Gulf+Western era===
By the early 1960s, Paramount's future was doubtful. The high-risk movie business was wobbly; the theater chain was long gone; investments in DuMont and in early pay-television came to nothing; and the Golden Age of Hollywood had just ended, even the flagship [[1501 Broadway|Paramount Building]] in Times Square was sold to raise cash, as was KTLA (sold to [[Gene Autry]] in 1964 for a then-phenomenal $12.5&nbsp;million). Their only remaining successful property at that point was [[Dot Records]], which Paramount had acquired in 1957, and even its profits started declining by the middle of the 1960s.<ref>{{cite web |url=http://www.bsnpubs.com/dot/dotstoryc.html |title=Dot Records Story, Part 3 |publisher=BSNpubs.com |date=November 10, 1999 |access-date=February 14, 2016 |archive-date=May 4, 2017 |archive-url=https://web.archive.org/web/20170504015437/http://www.bsnpubs.com/dot/dotstoryc.html |url-status=live }}</ref> Founding father Adolph Zukor (born in 1873) was still chairman emeritus; he referred to chairman Barney Balaban (born 1888) as "the boy". Such aged leadership was incapable of keeping up with the changing times, and in 1966, a sinking Paramount was sold to [[Charles Bluhdorn]]'s industrial conglomerate, [[Gulf and Western Industries]]. Bluhdorn immediately put his stamp on the studio, installing a virtually unknown producer named [[Robert Evans]] as head of production. Despite some rough times, Evans held the job for eight years, restoring Paramount's reputation for commercial success with ''[[The Odd Couple (film)|The Odd Couple]]'', ''[[Rosemary's Baby (film)|Rosemary's Baby]]'', ''[[Love Story (1970 film)|Love Story]]'', ''[[The Godfather]]'', ''[[Chinatown (1974 film)|Chinatown]]'', and ''[[3 Days of the Condor]]''.<ref>{{cite book |last=Evans |first=Robert |title=The kid stays in the picture |year=2006 |publisher=Phoenix Books |location=Beverly Hills, Calif. |isbn=1-59777-525-8 |pages=xii |edition=1st New Millennium printing. |url=https://archive.org/details/kidstaysinpictu00evan |url-access=registration }}</ref>

Gulf and Western also bought the neighboring [[Desilu|Desilu Productions]] television studio (once the lot of [[RKO Pictures]]) from [[Lucille Ball]] in 1967. Using some of Desilu's established shows such as ''[[Star Trek: The Original Series|Star Trek]]'', ''[[Mission: Impossible (1966 TV series)|Mission: Impossible]]'', and ''[[Mannix]]'' as a foot in the door at the networks, the newly reincorporated [[Paramount Television]] eventually became known as a specialist in half-hour situation comedies.<ref>{{cite book |last=Dick |first=Bernard F. |title=Engulfed : the death of Paramount Pictures and the birth of corporate Hollywood |year=2001 |publisher=Univ. Press of Kentucky |location=Lexington, Ky. |isbn=0-8131-2202-3}}</ref>

In 1968, Paramount formed Films Distributing Corp to distribute sensitive film product, including ''Sin With a Stranger'', which was one of the first films to receive an [[X rating]] in the United States when the [[MPAA]] introduced their new [[Motion Picture Association of America film rating system|rating system]].<ref>{{cite news|work=[[Variety (magazine)|Daily Variety]]|first=A.D.|last=Murphy|title=Coding Old Pix New Wrinkle|date=November 20, 1968|page=1}}</ref>