Post by Admin on May 27, 2017 6:19:30 GMT
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With Jerry Perenchio passing away this week, I was thinking what if, in 1982, Golan & Globus and not Norman Lear and Jerry Perenchio had bought Embassy Pictures for $25 million?
John Blythe It probably would have largely helped Cannon's bottom line from a financial standpoint because they would have acquired a library of roughly 150 films at fair market value and they could have drawn income off of these titles. Avco Embassy Pictures in it's later years (late 70's, early 80's) when Bob Rehme was the president of the company had produced/distributed a handful of major motion pictures that were extremely profitable and many of these films were produced on budgets of under $5 million and many of these made over $20 million at the box office. The Manitou, The Fog, Phantasm, Escape from New York, The Howling and Road Games all did very well for Avco Embassy and Rehme made a name for himself by increasing the company's revenue by nearly $100 million in a three year span. What's remarkable however, is that Cannon's primary competition in the 1980's was New World Pictures. After Rehme left Avco Embassy and briefly was president at Universal Studios Entertainment, he became CEO of New World after Roger Corman left the company. Rehme tried to repeat the same success at New World that he had done at Avco Embassy but failed. New World's problems, unlike Cannon which was largely in debt to Credit Lyonnais, is that they over-expanded far too quickly and became too big of an indie film company with too many box office failures.
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With Jerry Perenchio passing away this week, I was thinking what if, in 1982, Golan & Globus and not Norman Lear and Jerry Perenchio had bought Embassy Pictures for $25 million?
John Blythe It probably would have largely helped Cannon's bottom line from a financial standpoint because they would have acquired a library of roughly 150 films at fair market value and they could have drawn income off of these titles. Avco Embassy Pictures in it's later years (late 70's, early 80's) when Bob Rehme was the president of the company had produced/distributed a handful of major motion pictures that were extremely profitable and many of these films were produced on budgets of under $5 million and many of these made over $20 million at the box office. The Manitou, The Fog, Phantasm, Escape from New York, The Howling and Road Games all did very well for Avco Embassy and Rehme made a name for himself by increasing the company's revenue by nearly $100 million in a three year span. What's remarkable however, is that Cannon's primary competition in the 1980's was New World Pictures. After Rehme left Avco Embassy and briefly was president at Universal Studios Entertainment, he became CEO of New World after Roger Corman left the company. Rehme tried to repeat the same success at New World that he had done at Avco Embassy but failed. New World's problems, unlike Cannon which was largely in debt to Credit Lyonnais, is that they over-expanded far too quickly and became too big of an indie film company with too many box office failures.
LikeShow more reactions · Reply · 3 · 23 hrs