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70-470: Fremantle Limited ( / ˈ f r iː m æ n t əl / ), formerly FremantleMedia , is a British multinational television production and distribution company based in London . The company was founded as Pearson Television in 1993 when publishing and education company Pearson acquired the former British ITV franchisee Thames Television . Fremantle takes its name from Fremantle International, which

140-461: A 20% holding in the company. Interpublic Group agreed to sell assets of Fremantle International to All American Communications Inc. for $ 63 million in cash and stock on 7 July 1994. All American acquired Fremantle International in August. Paul Talbot continued to own The Fremantle Corporation, the international distributor of All American's Baywatch and other programs until his death in 2005, and

210-523: A 25% stake in Naked Entertainment. However in 2020, they announced that they took full control of Naked Entertainment acquiring the remaining 75% stake in it. A day later they acquired a 75% majority stake in Dutch reality television production company No Pictures Please. In October 2015, FremantleMedia acquired a majority stake of Paris-based French scripted production company Kwai and placing

280-515: A U.S.-based distributor of made-for-television films, was purchased later that year for $ 40 million. In January 1996, Pearson Television acquired the British production company SelecTV plc, and merged into it. Pearson Television announced on 1 October 1997 that it would launch a $ 373 million cash tender offer for publicly traded U.S. television company All American Communications Inc. On 5 November, Pearson completed its tender offer, and All American

350-766: A basis in a national ethos , being ultimate without a specific nationhood, and that this lack of an ethos appears in their ways of operating as they enter into contracts with countries that have low human rights or environmental standards . In the world economy facilitated by multinational corporations, capital will increasingly be able to play workers, communities, and nations off against one another as they demand tax, regulation and wage concessions while threatening to move. In other words, increased mobility of multinational corporations benefits capital while workers and communities lose. Some negative outcomes generated by multinational corporations include increased inequality , unemployment , and wage stagnation . Raymond Vernon presents

420-508: A corporation invests in a country in which it is not domiciled, it is called foreign direct investment (FDI). Countries may place restrictions on direct investment; for example, China has historically required partnerships with local firms or special approval for certain types of investments by foreigners, although some of these restrictions were eased in 2019. Similarly, the United States Committee on Foreign Investment in

490-581: A deal to acquire French-based global production studio Asacha Media Group with co-founder and CEO of Asacha, Gaspard de Chavagnac continuing to run the latter company. Fremantle owns of a number of non-scripted formats , including the talent shows Idol , Got Talent , and The X Factor (the latter two with Simon Cowell 's Syco Entertainment ), and game shows via its ownership of the libraries of U.S. producer Goodson–Todman Productions , Australian producer Reg Grundy , and others, which includes formats Family Feud , The Price Is Right and Sale of

560-429: A free market system where there is little government interference. As a result, international wealth is maximized with free exchange of goods and services. To many economic liberals, multinational corporations are the vanguard of the liberal order. They are the embodiment par excellence of the liberal ideal of an interdependent world economy. They have taken the integration of national economies beyond trade and money to

630-468: A joint venture between its CLT-UFA group (itself a merger of Luxembourg's CLT and German studio UFA GmbH ) with Pearson Television (whose library included former British ITV franchise Thames Television , All American Television—who owned the libraries of U.S. syndicators Lexington Broadcast Services and Blair Entertainment and game show producers Mark Goodson Productions and Fremantle International, and Australia's Reg Grundy Organisation ) to create

700-458: A majority stake in the scripted drama division of Australian producer Essential Media & Entertainment after the latter announced that they exiting the drama services and relaunched it as a separate company Easy Tiger with the new company taking over Essential's drama development state with former head of scripted at Essential Media & Entertainment Ian Colle leading the new company. In January 2018, FremantleMedia announced that they're exiting

770-490: A million troops to help, and by February 1991, Iraqi forces were expelled from Kuwait. Due to the oil boycott from Kuwait and Iran, oil prices rose and quickly recovered. Saudi Arabia once again led OPEC, and thanks to assistance in defending Kuwait, new relations emerged between the USA and OPEC. Operation "Desert Storm" brought mutual dependence among the main oil producers. OPEC continued to influence global oil prices but recognized

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840-632: A multinational media group and content business—eventually known as RTL Group —to consolidate their broadcasting and production activities, and provide a European competitor to American-owned media conglomerates. The content business would be renamed FremantleMedia in 2001, while Bertelsmann would later increase its stake in RTL Group to achieve majority ownership. In February 2003, FremantleMedia announced that they are merging two of their successful production outfits, Talkback Productions and Thames Television, by combining their operational departments to form

910-1331: A new scripted development and production company named The Apartment Pictures with co-founder of Wildside Lorenzo Mieli will be heading the new production label. In July 2020, Fremantle spun off Storyglass into an independent company within Bertelsmann. In September, Fremantle merged Boundless and Naked Entertainment to form Naked Television. In July 2021, Fremantle announced that they had made an agreement with Swedish-based Scandinavian media and entertainment company Nordic Entertainment Group to acquire 12 scripted and unscripted Nordic production labels such as Strix Television and Moskito Television from Nordic Entertainment Group's television studios division NENT Studios for an undisclosed sum in order for Fremantle to expand their Nordic operations and will use them to launch Fremantle Nordics. Two months later in September of that same year, Fremantle had announced that they've completed their acquisition of 12 scripted and unscripted Nordic production labels from Swedish-based Scandinavian media and entertainment group Nordic Entertainment Group and their division NENT Studios with Fremantle had expanded their Nordic operations and launched Fremantle Nordics division along with

980-769: A premium feature series and documentaries label named Undeniable In May 2023, Fremantle announced that they're merging two of their Norwegian production companies with their Norwegian division Fremantle Norway being merged with Monster and will consolidate them into one company under the Monster label and will be leaded by the CEO of Monster Ingvild Daae with the CEO of Fremantle Norway Petter Testmann-Koch stepping down. In February 2024, Fremantle announced their acquisition of Singaporean independent TV producer Beach House Pictures from Canadian entertainment company Blue Ant Media . Later in that same month, Fremantle announced that they had made

1050-410: Is often handled through international arbitration . The actions of multinational corporations are strongly supported by economic liberalism and free market system in a globalized international society. According to the economic realist view, individuals act in rational ways to maximize their self-interest and therefore, when individuals act rationally, markets are created and they function best in

1120-865: Is usually a large corporation incorporated in one country that produces or sells goods or services in various countries. Two common characteristics shared by MNCs are their large size and centrally controlled worldwide activities. MNCs may gain from their global presence in a variety of ways. First of all, MNCs can benefit from the economy of scale by spreading R&D expenditures and advertising costs over their global sales, pooling global purchasing power over suppliers, and utilizing their technological and managerial experience globally with minimal additional costs. Furthermore, MNCs can use their global presence to take advantage of underpriced labor services available in certain developing countries and gain access to special R&D capabilities residing in advanced foreign countries. The problem of moral and legal constraints upon

1190-848: The Dutch East India Company (VOC) founded in 1602. In addition to carrying on trade between Great Britain and its colonies, the British East India Company became a quasi-government in its own right, with local government officials and its own army in India. Other examples include the Swedish Africa Company founded in 1649 and the Hudson's Bay Company founded in 1670. These early corporations engaged in international trade and exploration and set up trading posts. The Dutch government took over

1260-670: The 19th century, such as the Rio Tinto company founded in 1873, which started with the purchase of sulfur and copper mines from the Spanish government. Rio Tinto, now based in London and Melbourne , Australia, has made many acquisitions and expanded globally to mine aluminum , iron ore , copper , uranium , and diamonds . European mines in South Africa began opening in the late 19th century, producing gold and other minerals for

1330-708: The Century among others. Via the Reg Grundy library, Fremantle Australia owns a number of notable Australian dramas and soap operas , including the long-running Neighbours and Prisoner . Since the mid-2010s, Fremantle has increased its focus on scripted series internationally, having produced or distributed programmes such as American Gods , Beecham House , Charité , Deutschland 83 , Picnic at Hanging Rock , The Rain , The Young Pope and The Mosquito Coast . Fremantle has production units across its global offices and network of companies. In

1400-551: The English language. Senior officials, although mostly still Swedish, all learned English and all major internal documents were in English, the lingua franca of multinational corporations. After the war, the number of businesses having at least one foreign country operation rose drastically from a few thousand to 78,411 in 2007. Meanwhile, 74% of parent companies are located in economically advanced countries. Developing and former communist countries such as China, India, and Brazil are

1470-539: The Fremantle Nordics Board being established to handle their acquired labels with Morten Mogensen continued to be the CEO of the 12 labels. In March 2022, Fremantle announced their acquisition of Italian production house Lux Vide . In May 2022, Fremantle acquired a majority stake in the Irish film and television production company Element Pictures . As part of the deal, Element's film distribution arm

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1540-575: The International Energy Agency (IEA), enabling states to coordinate policy, gather data, and monitor global oil reserves. In the 1970s, OPEC gradually nationalized the Seven Sisters. The Kingdom of Saudi Arabia, as the only largest world oil producer, could leverage this. However, Saudi Arabia opted for the correct approach and maintained consistent oil prices throughout the 1970s. In 1979, the "second oil shock" came from

1610-574: The Netherlands has become a popular choice, as its company laws have fewer requirements for meetings, compensation, and audit committees, and Great Britain had advantages due to laws on withholding dividends and a double-taxation treaty with the United States. Corporations can legally engage in tax avoidance through their choice of jurisdiction but must be careful to avoid illegal tax evasion . Corporations that are broadly active across

1680-558: The OLI framework. The other theoretical dimension of the role of multinational corporations concerns the relationship between the globalization of economic engagement and the culture of national and local responses. This has a history of self-conscious cultural management going back at least to the 60s. For example: Ernest Dichter, architect, of Exxon's international campaign, writing in the Harvard Business Review in 1963,

1750-464: The Third World colonies. That changed dramatically after 1945 as investors turned to industrialized countries and invested in manufacturing (especially high-tech electronics, chemicals, drugs, and vehicles) as well as trade. Sweden's leading manufacturing concern was SKF , a leading maker of bearings for machinery. In order to expand its international business, it decided in 1966 it needed to use

1820-636: The U.S. applies its corporate taxation "extraterritorially", which has motivated tax inversions to change the home state. By 2019, most OECD nations, with the notable exception of the U.S., had moved to territorial tax in which only revenue inside the border was taxed; however, these nations typically scrutinize foreign income with controlled foreign corporation (CFC) rules to avoid base erosion and profit shifting . In practice, even under an extraterritorial system, taxes may be deferred until remittance, with possible repatriation tax holidays , and subject to foreign tax credits . Countries generally cannot tax

1890-647: The US and globally. On 23 April 1993, Pearson plc bought Thames Television , which had been one of the "Big Five" franchisees in the ITV network from 1968 to 1992, and, as an independent production company, was continuing to produce many shows for ITV and other broadcasters. Thames became the first division of Pearson Television, and Pearson gained the rights to Thames programmes like The Benny Hill Show and The Bill . Then in 1995 it acquired Australian production company Grundy Television . Allied Communications Inc. (ACI),

1960-541: The United States sanctions against Iran ; European companies faced with the possibility of losing access to the U.S. market by trading with Iran. International investment agreements also facilitate direct investment between two countries, such as the North American Free Trade Agreement and most favored nation status. Raymond Vernon reported in 1977 that of the largest multinationals focused on manufacturing, 250 were headquartered in

2030-506: The United States scrutinizes foreign investments. In addition, corporations may be prohibited from various business transactions by international sanctions or domestic laws. For example, Chinese domestic corporations or citizens have limitations on their ability to make foreign investments outside China, in part to reduce capital outflow . Countries can impose extraterritorial sanctions on foreign corporations even for doing business with other foreign corporations, which occurred in 2019 with

2100-614: The United States as the largest consumer and guarantor of the existing oil security order. Since the Iraq War, OPEC has had only a minor influence on oil prices, but it has expanded to 11 members, accounting for about 40 percent of total global oil production, although this is a decline from nearly 50 percent in 1974. Oil has practically become a common commodity, leading to much more volatile prices. Most OPEC members are wealthy, and most remain dependent on oil revenues, which has serious consequences, such as when OPEC members were pressured by

2170-461: The United States from 2010. The USA became the leading oil producer, creating tension with OPEC. In 2014, Saudi Arabia increased production to push new American producers out of the market, leading to lower prices. OPEC then reduced production in 2016 to raise prices, further worsening relations with the United States. By 2012, only 7% of the world's known oil reserves were in countries that allowed private international companies free rein; 65% were in

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2240-629: The United States, 115 in Western Europe, 70 in Japan, and 20 in the rest of the world. The multinationals in banking numbered 20 headquartered in the United States, 13 in Europe, nine in Japan and three in Canada. Today multinationals can select from a variety of jurisdictions for various subsidiaries, but the ultimate parent company can select a single legal domicile ; The Economist suggests that

2310-916: The United States, Fremantle's largest production and distribution division, Fremantle North America is based in Burbank, California , and includes a portfolio of companies. Fremantle North America produces and distributes scripted and alternative programs for broadcast and cable networks, syndication and streaming platforms. In addition, Fremantle North America owns several other smaller production companies; among these are Thom Beers ' Original Productions (responsible for creation and production of numerous reality shows such as Deadliest Catch , Ax Men , and Ice Road Truckers ) and Amygdala Music, Leslie Beers' production and composition firm that writes themes, incidental, and featured music for Original Productions shows. Production and distribution labels from Fremantle include: Multinational corporation Most of

2380-766: The VOC in 1799, and during the 19th century, other governments increasingly took over private companies, most notably in British India. During the process of decolonization , the European colonial charter companies were disbanded, with the final colonial corporation, the Mozambique Company , dissolving in 1972. Mining of gold, silver, copper, and oil was a major activity early on and remains so today. International mining companies became prominent in Britain in

2450-507: The West to the post-colonial South and invest either in foreign expenditures or ostentatious economic development projects. After 1974, most of the money from OPEC members ceased as payments for goods and services or investments in Western industry. In February 1974, the first Washington Energy Conference was convened. The most significant contribution of this conference was the establishment of

2520-469: The behavior of multinational corporations, given that they are effectively "stateless" actors, is one of several urgent global socioeconomic problems that has emerged during the late twentieth century. Potentially, the best concept for analyzing society's governance limitations over modern corporations is the concept of "stateless corporations". Coined at least as early as 1991 in Business Week ,

2590-454: The children's market by selling their Kids & Family Entertainment division to Canadian production company Boat Rocker Media under their global distribution unit Boat Rocker Rights in order for the former to focus on their scripted and unscripted entertainment genres. In July 2018, FremantleMedia North America CEO Jennifer Mullin was named the new CEO of the worldwide company, replacing the outgoing Cecile Frot-Coutaz. On 10 September 2018,

2660-742: The collapse of the Shah's regime in Iran. Iran became a regional power due to oil money and American weapons. The Shah eventually abdicated and fled the country. This prompted a strike by thousands of Iranian oil workers, significantly reducing oil production in Iran. Saudi Arabia tried to cope with the crisis by increasing production, but oil prices still soared, leading to the "second oil shock." Saudi Arabia significantly reduced oil production, losing most of its revenues. In 1986, Riyadh changed course, and oil production in Saudi Arabia sharply increased, flooding

2730-654: The companies. This occurred in 1960. Prior to the 1973 oil crisis , the Seven Sisters controlled around 85 percent of the world's petroleum reserves . In the 1970s, most countries with large reserves nationalized their reserves that had been owned by major oil companies. Since then, industry dominance has shifted to the OPEC cartel and state-owned oil and gas companies, such as Saudi Aramco , Gazprom (Russia), China National Petroleum Corporation , National Iranian Oil Company , PDVSA (Venezuela), Petrobras (Brazil), and Petronas (Malaysia). A unilateral increase in oil prices

2800-851: The company changed its public-facing brand to "Fremantle", introducing a new handwritten logo (Fremantle Media remains the company's legal name). Mullin described the logo as a "creative signature " that "[puts] our own unique mark on everything that we do." In June 2019, Fremantle announced that they've striked an overall deal with Richard Brown 's new production company Passenger being based in New York and London. Brown's production company Passenger will be developing and producing their scripted drama television shows alongside Fremantle, with Fremantle will be distributing their projects worldwide. In December 2019, Fremantle announced that they're restructuring their Italian operations in Italy and had established

2870-652: The company under their French operations with the CEO of the French division of FremantleMedia Monica Galer becoming CEO of the acquired company. In January 2016, FremantleMedia acquired a 51% majority stake in Tel Aviv-based Israeli scripted reality, drama and entertainment formats television production company Abot Hameiri to expand their international outprint with FremantleMedia's international distribution division will distribute Abot Hameiri's programmes worldwide. In September 2017, FremantleMedia acquired

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2940-558: The company's assets were later acquired by Canadian-based Kaleidoscope Entertainment in June 2006. All American Fremantle International managed and distributed Mark Goodson Productions' game show formats worldwide. In 1998, All American Television and All American Fremantle International were renamed Pearson Television North America and Pearson Television Licensing , and operated under those names until being renamed in 2001. In 2000, German conglomerate Bertelsmann announced that it would form

3010-510: The conception was theoretically clarified in 1993: that an empirical strategy for defining a stateless corporation is with analytical tools at the intersection between demographic analysis and transportation research. This intersection is known as logistics management , and it describes the importance of rapidly increasing global mobility of resources. In a long history of analysis of multinational corporations, we are some quarter-century into an era of stateless corporations—corporations that meet

3080-643: The creation of a "world customer". The idea of a global corporate village entailed the management and reconstitution of parochial attachments to one's nation. It involved not a denial of the naturalness of national attachments, but an internationalization of the way a nation defines itself. "Multinational enterprise" (MNE) is the term used by international economist and similarly defined with the multinational corporation (MNC) as an enterprise that controls and manages production establishments, known as plants located in at least two countries. The multinational enterprise (MNE) will engage in foreign direct investment (FDI) as

3150-487: The current largest and most influential companies are publicly traded multinational corporations, including Forbes Global 2000 companies. The history of multinational corporations began with the history of colonialism . The first multi-national corporations were founded to set up colonial "factories" or port cities. The two main examples were the British East India Company founded in 1600 and

3220-481: The firm makes direct investments in host country plants for equity ownership and managerial control to avoid some transaction costs . Sanjaya Lall in 1974 proposed a spectrum of scholarly analysis of multinational corporations, from the political right to the left. He put the business school how-to-do-it writers at the extreme right, followed by the liberal laissez-faire economists, and the neoliberals (they remain right of center but do allow for occasional mistakes of

3290-416: The hands of state-owned companies that operated in one country and sold oil to multinationals such as BP, Shell, ExxonMobil and Chevron. Down through the 1930s, about 80% of the international investments by multinational corporations were concentrated in the primary sector, especially mining (especially oil) and agriculture (rubber, tobacco, sugar, palm oil , coffee, cocoa, and tropical fruits). Most went to

3360-576: The international oil market. Iran was unable to sell any of its oil. In August 1953, the then-prime minister was overthrown by a pro-American dictatorship led by the Shah, and in October 1954, the Iranian industry was denationalized. Worldwide oil consumption increased rapidly between 1949 and 1970, a period known as the 'golden age of oil'. This increase in consumption was caused not only by the growth of production by multinational oil companies but also by

3430-415: The internationalization of production. For the first time in history, production, marketing, and investment are being organized on a global scale rather than in terms of isolated national economies. International business is also a specialist field of academic research. Economic theories of the multinational corporation include internalization theory and the eclectic paradigm . The latter is also known as

3500-453: The largest independent television production company named TalkBack Thames. In 2005, FremantleMedia announced their acquisition of a 75% majority stake in Danish production company Blu. They would eventually acquire the remaining shares in the company five years later giving them full control. In April 2010, FremantleMedia acquired Dutch drama television production company FourOne Media. In

3570-460: The largest recipients. However, 70% of foreign direct investment went into developed countries in the form of stocks and cash flows. The rise in the number of multinational companies could be due to a stable political environment that encourages cooperation, advances in technology that enable management of faraway regions, and favorable organizational development that encourages business expansion into other countries. A multinational corporation (MNC)

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3640-474: The laws and regulations of both their domicile and the additional jurisdictions where they are engaged in business. In some cases, the jurisdiction can help to avoid burdensome laws, but regulatory statutes often target the "enterprise" with statutory language around "control". As of 1992 , the United States and most OECD countries have the donot legal authority to tax a domiciled parent corporation on its worldwide revenue, including subsidiaries. As of 2019 ,

3710-494: The market with cheap oil. This caused a worldwide drop in oil prices, hence the "third oil shock" or "counter-shock." However, this shock represented something much bigger—the end of OPEC's dominance and its control over oil prices. Iraqi President Saddam Hussein decided to attack Kuwait. The invasion sparked a crisis in the Middle East, prompting Saudi Arabia to request assistance from the United States. The United States sent

3780-543: The marketplace such as externalities). Moving to the left side of the line are nationalists, who prioritize national interests over corporate profits, then the "dependencia" school in Latin America that focuses on the evils of imperialism, and on the far left the Marxists. The range is so broad that scholarly consensus is hard to discern. Anti-corporate advocates criticize multinational corporations for being without

3850-563: The mid-2010s, FremantleMedia began to increase its investments into "high-end" scripted dramas to diversify its output. The strategy proved successful for the company, with international dramas having increasingly accounted for more of its overall revenue. In August 2015, FremantleMedia acquired 62% majority stake in Italian production company Wildside. In September 2015, FremantleMedia acquired French scripted content production company Fontaram Productions. Later in that same month, they acquired

3920-560: The price collapse in 1998–1999. The United States still maintains close relations with Saudi Arabia. In 2003, U.S. forces invaded Iraq with the aim of removing the dictatorship and gaining access to Iraqi oil reserves, giving the United States greater strategic importance from 2000 to 2008. During this period, there was a constant shortage of oil, but its consumption continued to rise, maintaining high prices and leading to concerns about "peak oil". From 2005 to 2012, there were advances in oil and gas extraction, leading to increased production in

3990-611: The realities of the needs of source materials on a worldwide basis and to produce and customize products for individual countries. One of the first multinational business organizations, the East India Company , was established in 1601. After the East India Company came the Dutch East India Company , founded on March 20, 1603, which would become the largest company in the world for nearly 200 years. The main characteristics of multinational companies are: When

4060-501: The strong influence of the United States on the global oil market. In 1959, companies lowered the price of oil due to a surplus in the market. This reduction dealt a significant blow to the finances of producers. Saudi oil minister Abdullah Tariki and Venezuela’s Juan Perez Alfonso entered into a secret agreement (the Mahdi Pact), promising that if the price of oil was lowered a second time, they would take collective action against

4130-496: The world market, jobs for locals, and business and profits for companies. Cecil Rhodes (1853–1902) was one of the few businessmen in the era who became Prime Minister (of South Africa 1890–1896). His mining enterprises included the British South Africa Company and De Beers . The latter company practically controlled the global diamond market from its base in southern Africa. In 1945, the United States

4200-573: The world without a concentration in one area have been called stateless or "transnational" (although "transnational corporation" is also used synonymously with "multinational corporation" ), but as of 1992, a corporation must be legally domiciled in a particular country and engage in other countries through foreign direct investment and the creation of foreign subsidiaries. Geographic diversification can be measured across various domains, including ownership and control, workforce, sales, and regulation and taxation. Multinational corporations may be subject to

4270-503: The worldwide revenue of a foreign subsidiary, and taxation is complicated by transfer pricing arrangements with parent corporations. For small corporations, registering a foreign subsidiary can be expensive and complex, involving fees, signatures, and forms; a professional employer organization (PEO) is sometimes advertised as a cheaper and simpler alternative, but not all jurisdictions have laws accepting these types of arrangements. Disputes between corporations in different nations

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4340-542: Was acquired by predecessor company All American Television in 1994. Pearson Television and Bertelsmann 's CLT-UFA merged in 2000 to form the RTL Group , with Pearson Television itself being renamed FremantleMedia on 20 August of the following year. Fremantle owns non-scripted formats , including the British talent shows Idols , Got Talent and The X Factor ; all of which have been sold globally. Since 1994, Fremantle has distributed American game shows locally in

4410-438: Was enabled by multinational corporations known as the 'Seven Sisters'. The "Seven Sisters" was a common term for the seven multinational companies that dominated the global petroleum industry from the mid-1940s to the mid-1970s. The nationalization of the Iranian oil industry in 1951 by Iranian Prime Minister Mohammad Mosaddegh and the subsequent boycott of Iranian oil by all companies had dramatic consequences for Iran and

4480-650: Was founded in 1952 by Paul Talbot as Fremantle Overseas Radio and Television and later renamed as Fremantle International in 1958, named after the city in Western Australia . It was involved in the production of television series , movies , and specials from 1964 to 1994 and owned game show formats from Mark Goodson - Bill Todman Productions, Stewart Television , Barry & Enright Productions , Kline and Friends, Hatos-Hall Productions , and Chuck Barris Productions internationally. In 1976, Australian executive Richard Becker, of Becker Entertainment

4550-448: Was fully aware that the means to overcoming cultural resistance depended on an "understanding" of the countries in which a corporation operated. He observed that companies with "foresight to capitalize on international opportunities" must recognize that " cultural anthropology will be an important tool for competitive marketing". However, the projected outcome of this was not the assimilation of international firms into national cultures, but

4620-546: Was labeled as "the largest nonviolent transfer of wealth in human history." The OPEC sought immediate discussions regarding participation in national oil industries. Companies were not inclined to object as the price hike benefited both them and OPEC members. In 1980, the Seven Sisters were entirely displaced and replaced by national oil companies (NOCs). The rise in oil prices burdened developing countries with balance of payments deficits, leading to an energy crisis. OPEC members had to abandon their plan of redistributing wealth from

4690-672: Was made head of the Australian operation of Fremantle International Productions, and a year later integrated its operations with R.A. Becker's production arm (later Becker Entertainment ) to license out its title library. By the 1980s, Fremantle had become the largest producer of game shows in Europe. In 1989, The Interpublic Group of Companies bought a 49% minority interest in Fremantle International. On 20 May 1991, Interpublic Group increased its ownership stake in Fremantle International to 80%, with Paul Talbot retaining

4760-647: Was merged into Pearson Television the following year. This acquisition gave Pearson worldwide rights to various game show formats as well as drama series in the U.S. such as Baywatch , while All American Music Group was sold to Zomba Records subsidiary Volcano Entertainment . Pearson Television acquired Italian drama production company Mastrofilm on 3 November 1998, and European animation financer and distributor EVA Entertainment on 2 February 1999. In June 2000, Pearson Television had announced that they decided to take over Smith & Jones' UK production company Talkback Productions . The first incarnation of Fremantle

4830-477: Was spun off to form Volta Pictures. In November 2022, Fremantle announced their acquisition of a majority stake in British documentary production company 72 Films. Later in that same month, it was announced that Fremantle had acquired a majority stake in the Tel Aviv -based Israeli independent production company, Silvio Productions. In March 2023, Fremantle announced that their documentaries division had launched

4900-513: Was the world's largest oil producer. However, their reserves were declining due to high demand. Therefore, the United States turned to foreign oil sources, which had a significant impact on the recovery of the West after World War II. Most of the world's oil was found in Latin America and the Middle East, particularly in the Arab states of the Persian Gulf. This increase in non-American production

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