History
The concept for TriStar Pictures came about in 1982 when Columbia Pictures (then a subsidiary of Coca-Cola), HBO, and CBS decided to pool resources to split the ever-growing costs of making movies, creating a new joint venture. In May 1983, it was given the name Tri-Star Pictures (when the new company was formed and did not have an official name, the press used the code-name "Nova," but the name could not be obtained as it was being used as the title for the PBS science series). It was the first new major Hollywood studio to be established since RKO Pictures was founded over 50 years earlier.
Their first production, released in 1984, was The Natural, starring Robert Redford. During this venture, many of Tri-Star's releases were released on VHS by either RCA-Columbia Pictures Home Video (now Sony Pictures Home Entertainment), CBS/FOX Video (now CBS Home Entertainment and 20th Century Fox Home Entertainment), or HBO Video. In addition, HBO would gain exclusive cable distribution rights to these films, and broadcast television licenses would go to CBS.
CBS dropped out of the venture in 1985, though they still distributed some of TriStar's films on home video until at least 1992. In 1986, Tri-Star entered into the television business as Tri-Star Television. In 1987, HBO dropped out of the Tri-Star venture as well and on September 7, Columbia Pictures bought their venture shares and merged Columbia and Tri-Star into Columbia Pictures Entertainment, also creating Columbia/Tri-Star. Both companies continued to produce and distribute films under their separate names.
Read more about this topic: TriStar Pictures
Famous quotes containing the word history:
“I assure you that in our next class we will concern ourselves solely with the history of Egypt, and not with the more lurid and non-curricular subject of living mummies.”
—Griffin Jay, and Reginald LeBorg. Prof. Norman (Frank Reicher)
“America is the only nation in history which miraculously has gone directly from barbarism to degeneration without the usual interval of civilization.”
—Georges Clemenceau (1841–1929)
“A great proportion of the inhabitants of the Cape are always thus abroad about their teaming on some ocean highway or other, and the history of one of their ordinary trips would cast the Argonautic expedition into the shade.”
—Henry David Thoreau (1817–1862)