![]() On August 7, 1991, under Sony Pictures Entertainment, the hyphen was officially removed from the name of the studio.ĭuring the 1990s, TriStar operated autonomously from Columbia. On November 8, 1989, the Sony Corporation of Japan acquired Columbia Pictures Entertainment for $3.4 billion. On April 13, 1988, the name of the company was reverted back to Tri-Star Pictures, Inc. In January 1988, CPE's stocks somewhat fell, and Coca-Cola decreased its shares in CPE to 49%. ![]() following The Coca-Cola Company's merger of Tri-Star and Columbia to become "Columbia/Tri-Star", of which it owned 80% of its stock. was renamed Columbia Pictures Entertainment, Inc. On December 21, 1987, Tri-Star Pictures, Inc. HBO sold its shares to the same studio in 1986 in order to form HBO Pictures. On November 15, 1985, CBS dropped out of the joint venture, selling its stake to Columbia Pictures. Among the various hits TriStar scored on its own during the decade were About Last Night, The Muppets Take Manhattan, Real Genius, Nothing in Common, Peggy Sue Got Married, The Principal, Look Who's Talking and Steel Magnolias. It also expanded ambitiously throughout the decade with the acquisition of Loews Theatres and the formation of its own television arm. Originally a joint venture between CBS, Columbia Pictures and HBO, whose individual video units handled video, broadcast, and pay cable rights to its products, the company scored a number of box office hits with modestly-budgeted fare in the 1980s, as well as fortuitous distribution deals with the Producers Sales Organization, Carolco Pictures and the Taft Entertainment Group. On May 16, 1983, its name was changed to Tri-Star in order to avoid confusion with the PBS series Nova. TriStar Pictures was established on March 2, 1982, and founded by Victor Kaufman as Nova Pictures. It is a corporate sibling of Sony studio Columbia Pictures. (spelled as Tri-Star until 1991) is an American film studio and production company that is a member of the Sony Pictures Motion Picture Group, part of the multinational conglomerate Sony. I’m right at that period of life where you have enough experience and confidence and self-assuredness.TriStar Pictures, Inc. “But my only regret is that I didn’t have the sense of self to try this earlier. The artists are the ones who have to go off and actually make the movie and do all the work. “There was part of me, I have to admit, that was like - come on, these studio guys sit behind desks and make phone calls. But also cinematographers, editors, costume designers and other crucial artists who, in my view, are very underpaid.”Īffleck addressed his previous experience launching multimedia company LivePlanet with two others in 2000, noting that he was humbled by the experience but feels ready to take on this latest endeavor. “Not just writers and directors and stars. “As streamers have proliferated, they have really ended back-end participation, and so this is partly an effort to try to recapture some of that value and share it in a way that’s more equitable,” Affleck said. The duo’s newest production company arrives as streaming has begun to shift its focus from quantity to quality, with the actors’ adding that they hope to address the impacts on deals for film and TV makers the streaming companies have had in the last half-decade. ![]() “I know what kind of freedoms artists long for and how they can be empowered - treated like grown-ups,” Affleck said. Damon, who will produce exclusively with Artists Equity, said the company will allow film and TV talent to “take ownership of their creative power, providing a platform for both established and emerging filmmakers to streamline the development of their content.” Jennifer Garner in Talks to Star in Ben Affleck's Crime Thriller 'Animals'Īffleck called the new venture his “next act of my career for a long, long time,” with the Oscar-winning actor, producer and director planning to work exclusively with the company. The independent production company arrives after Damon and Affleck “obtained a minimum of $100 million in financing from investment firm RedBird Capital Partners,” with Affleck and Damon committing their own “unknown amount of capital.” The duo spoke about their plans for the new company, which follows the closing of their previous Pearl Street production firm, in an interview with The New York Times published Sunday. Matt Damon and Ben Affleck say they plan to give freedom and profit-sharing back to artists - from writers and directors to costume designers and editors - with their newly launched production company Artists Equity. ![]()
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