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78-645: PolyGram Filmed Entertainment (formerly known as Filmworks , Casablanca Records & Filmworks , PolyGram Films and PolyGram Pictures or simply PFE ) was a film production company founded in 1975 as an American film studio, which became a European competitor to Hollywood within two decades, but was eventually sold to Seagram in 1998 and was folded into Universal Pictures a year later. Among its most successful and well known films were The Deep (1977), Midnight Express (1978), An American Werewolf in London (1981), Flashdance (1983), Four Weddings and

156-403: A chief executive or managing director , is the top-ranking corporate executive charged with the management of an organization , usually a company or a nonprofit organization . CEOs find roles in various organizations, including public and private corporations , nonprofit organizations , and even some government organizations (notably state-owned enterprises ). The governor and CEO of

234-423: A command hierarchy . Entertainment companies operate as mini conglomerate , operating many divisions or subsidiaries in many different industries. Warner Bros. Entertainment and Lionsgate Entertainment are two companies with this corporate structure. It allows for a single company to maintain control over seemingly unrelated companies that fall within the ranges of entertainment, which increases and centralises

312-773: A "one time hit" or an ongoing "entertainment franchise " that can be continued, remade, rebooted , or expanded into other sister industries; such as the video game industry (see Star Wars , Star Trek ). Entertainment projects can be either an original or an adaptation from another industry. In rare occasional cases, a few troubled major studios would also shed their distribution and/or marketing staffs, mainly due to reduced resources, and resort to co-investing and/or co-distributing film projects with larger studios, operating as virtual, production-only movie studios. Notable examples include legendary studio Metro-Goldwyn-Mayer , which, after many years of box office flops (mostly with low budgets), bad management and distribution, and bankruptcy,

390-558: A 50% by 1977, and by 1980, PolyGram took the other 50% stake in the company and renamed the film unit as PolyGram Pictures. During the late 1980s and early 1990s, PolyGram continued to invest in a diversified film unit with the purchases of individual production companies. In 1995, PolyGram purchased ITC Entertainment for $ 156 million. In May 1998, PolyGram was sold to Seagram, which owned Universal Pictures and Universal Music Group (UMG), for $ 10 billion. Seagram sold off some of PolyGram's assets while mainly acquiring its music division:

468-415: A Funeral (1994), Trainspotting (1996), Dead Man Walking (1995), The Big Lebowski (1998), Fargo (1996), The Usual Suspects (1995), The Game (1997), Candyman (1992) and Notting Hill (1999). In 1975, Peter Guber formed its own production company FilmWorks, then in 1976, it became Casablanca Records & FilmWorks after a merger with Casablanca Records , which PolyGram got

546-488: A company's business decisions, including those in operations, marketing, business development , finance, human resources , etc. The use of the CEO title is not necessarily limited to describing the head of a company. For example, the CEO of a political party is often entrusted with fundraising, particularly for election campaigns. In some countries, there is a dual board system with two separate boards, one executive board for

624-424: A corporation or company typically reports to the board of directors and is charged with maximizing the value of the business, which may include maximizing the profitability , market share , revenue , or another financial metric. In the nonprofit and government sector, CEOs typically aim at achieving outcomes related to the organization's mission, usually provided by legislation . CEOs are also frequently assigned

702-586: A deal to co-finance films produced by Castle Rock Entertainment . PFE's film distribution arm was based in the United Kingdom , and invested heavily in British film making — some credit it with reviving the British film industry in the 1990s. Despite a successful production history, new Philips CEO Cor Boonstra began to draw back Philips' media operations, excepting their stake in PolyGram, in 1997. At

780-614: A development and co-finance plan. Macmillan Films was launched by Thomas Dunne Books in October 2010 under the packaging model similar to Alloy while also moving to get film rights from Dunne's published author. Also that year, Random House changed their strategy to film development and packaging only. Condé Nast Entertainment was started by Magazine publisher Conde Nast in October 2012. In 2013, Macmillan Films became Macmillan Entertainment with an expansion to look at other divisions' book for possible films. A production company

858-410: A diversified film unit with the purchases of individual production companies. In 1989, PolyGram launched Manifesto Film Sales to handle the licensing of films outside North America. In 1991, PolyGram's Michael Kuhn became the head of PolyGram Filmed Entertainment, with US$ 200 million pumped in with the intention of developing a European film studio that could produce and distribute films internationally on

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936-402: A facade of charm and eloquence. Traits such as courage and risk-taking, generally considered desirable, are often found alongside these psychopathic tendencies. Tara Swart, a neuroscientist at MIT Sloan School of Management , has suggested that individuals with psychopathic traits thrive in chaotic environments and are aware that others do not. As a result, they may intentionally create chaos in

1014-516: A film was not centralised in the hands of a small number of executives, but instead was decided by negotiations between producers, management and marketing. Kuhn claimed that "movies sort of green lit themselves." In 1993, PolyGram purchased Vision Video Ltd (which was previously the video arm of Virgin Group ) from General Electric Capital for $ 5.6 million. PolyGram also built up a sizable film and television library that could be profitable. In 1995,

1092-462: A formal delegation of authority regarding business administration . Typically, responsibilities include being an active decision-maker on business strategy and other key policy issues, as well as leader , manager, and executor roles. The communicator role can involve speaking to the press and to the public, as well as to the organization's management and employees; the decision-making role involves high-level decisions about policy and strategy. The CEO

1170-447: A joint venture with Heron Communications, Channel 5 Video began operation. Channel 5 Video later began to obtain the rights to titles from Heron's US children's arm, Hi-Tops Video . Kuhn and Hockman were able to parlay PolyGram Video's success into financing feature films. The first film produced by PolyGram's new film division was P.I. Private Investigations in 1987. During the late 1980s and early 1990s, PolyGram continued to invest in

1248-422: A label of Focus Features, but shut down and went dormant the next year. Among the films directly produced by PFE were: Production company Generally the term refers to all individuals responsible for the technical aspects of creating a particular product, regardless of where in the process their expertise is required, or how long they are involved in the project. For example, in a theatrical performance,

1326-497: A lack of major pop music hits. In hindsight, analysts have also pointed to another reason for Boonstra's sale of the assets, namely Philips manufacturing blank CDs, as music piracy subsequently impacted the music industry hugely in the years afterwards. Philips ultimately decided to sell PolyGram to the beverage conglomerate Seagram in 1998 (Seagram had chosen PolyGram over EMI because of PolyGram's better management); only interested in PolyGram's music operations, Seagram, which at

1404-437: A new Batman movie with them, along with a few other projects. The duo eventually found a home at Warner Bros. A part of their exit proceedings, PolyGram would still own 7.5% of profits from some of its projects, including the 1989 Batman film. Also in 1980, PolyGram launched a syndicated television division, PolyGram Television, to be headed by former Columbia Pictures Television syndication executive Norman Horowitz, both

1482-541: A prime source for films for years. In 2012, six out of the nine best picture Oscar nominees were originally books. Previously, publishers did not develop their books into movie nor receive any of the profits. Neither Scholastic or Little Brown, get any box office revenue from the Harry Potter and The Twilight Saga movies just through book sales. As the publishers faced decreasing revenue due to increased competition from self-published e-books, or Amazon.com moving into

1560-465: A private corporate investment entity (see Legendary Pictures ). Their only source of profit comes from the productions they produce. Because entertainment and media are currently in "high demand", a production company can profit if its management is capable of using its resources to supply good quality products and services to the public. Many entertainment production companies brand their entertainment projects. An entertainment project can either become

1638-451: A production. The entertainment industry is centered on funding (investments from studios, investment firms, or individuals either from earnings from previous productions or personal wealth), projects (scripts and entertainment franchises), and talent ( actors , directors, screenwriters , and crew). Production companies are judged and ranked based on the amount of funding it has, as well the productions it has completed or been involved with in

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1716-610: A scale to match the major Hollywood studios . Following the style of its music business, the company produced films through a number of creatively semi-autonomous 'labels', such as Working Title Films in the United Kingdom and Propaganda Films and Interscope Communications in the United States ; it also built up its own network of distribution companies. Film production within PolyGram differed from traditional Hollywood studios, in that power to make ('green light')

1794-599: A source of criticism following a dramatic rise in pay relative to the average worker's wage . For example, the relative pay was 20-to-1 in 1965 in the US, but had risen to 376-to-1 by 2000. The relative pay differs around the world, and, in some smaller countries, is still around 20-to-1. Observers differ as to whether the rise is due to competition for talent or due to lack of control by compensation committees. In recent years, investors have demanded more say over executive pay. Lack of diversity amongst chief executives has also been

1872-504: A source of criticism. In 2018, 5% of Fortune 500 CEOs were women. In 2023 the number rose to 10.4% of for Women CEO's of Fortune 500 companies . The reasons for this are explained or justified in various ways, and may include biological sex differences, male and female differences in Big Five personality traits and temperament, sex differences in psychology and interests, maternity and career breaks, hypergamy , phallogocentrism ,

1950-482: A thousand feature films from a variety of companies, from Crédit Lyonnais for $ 225 million. PolyGram also attempted purchasing MGM and The Samuel Goldwyn Company 's library, but to no avail. In July 1998, PolyGram was in talks to sell their stake in Abbey Home Entertainment back to Ian and Anne Miles, letting AHE trade independently again. On December 7, 1997, PolyGram and Warner Bros. reached

2028-402: Is considered to be a small production company. These companies often work with up and coming talent. Small production companies will either grow to become a major production company, a subsidiary completely owned by another company, remain small, or fail. The success of an entertainment production company is centered on the projects it produces, the talent it can acquire, and the performance of

2106-477: Is not uncommon for production companies to act as a publication . For example, The Walt Disney Company and Nintendo act as publisher for Walt Disney Animation Studios and Nintendo Entertainment Planning & Development respectively. Self-publishing , in this case, should not be confused with a self-publishing vanity press which are paid services. Both large and small production studios have an editorial board or editor-in-chief , along with other forms of

2184-502: Is often not involved in the making of products that are not motion picture related. A film production company can either operate as an affiliate (under a contract) or as a subsidiary for an entertainment company, motion picture company, television network, or all, and are generally smaller than the company they are partnered with. A book to film unit is a unit of a book publishing company for the purposes of getting books that they published adapted into film . Films have been using books as

2262-402: Is often used in lieu of chief executive officer. Business publicists since the days of Edward Bernays (1891–1995) and his client John D. Rockefeller (1839–1937) and even more successfully the corporate publicists for Henry Ford , promoted the concept of the " celebrity CEO". Business journalists have often adopted this approach, which assumes that the corporate achievements, especially in

2340-410: Is owned by Paramount Global ). Alloy Entertainment while not a unit of a publisher started using a book packaging to film model of film and TV development by developing the property in-house, hire authors for the books and films, so as to own the property. Random House was the first big six book publisher to establish a book to film unit, Random House Films , in 2005 with a Focus Features deal under

2418-418: Is sometimes included as one such subordinate executive officer, but, as suggested by Anthony Johndrow, CEO of Reputation Economy Advisors, it can also be seen as "simply another way to add emphasis to the role of a modern-day CEO – where they are both the external face of, and the driving force behind, an organization culture". In the US, the term "chief executive officer" is used primarily in business, whereas

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2496-427: Is tasked with implementing the goals, targets and strategic objectives as determined by the board of directors. As an executive officer of the company, the CEO reports the status of the business to the board of directors, motivates employees, and drives change within the organization. As a manager, the CEO presides over the organization's day-to-day operations. The CEO is the person who is ultimately accountable for

2574-542: Is to prevent a conflict of interest and too much power being concentrated in the hands of one person. In the United States, the board of directors (elected by the shareholders ) is often equivalent to the supervisory board, while the executive board may often be known as the executive committee (the division/subsidiary heads and C-level officers that report directly to the CEO). In the United States, and in business,

2652-448: Is usually run by a producer or director, but can also be run by a career executive. In entertainment, a production company relies highly on talent or a well known entertainment franchise to raise the value of an entertainment project and draw out larger audiences. This gives the entertainment industry a democratized power structure to ensure that both the companies and talent receive their fair share of pay and recognition for work done on

2730-552: The Dictionary says that the use of "CEO" as an acronym for a chief executive officer originated in Australia , with the first attestation being in 1914. The first American usage cited is from 1972. The responsibilities of an organization's CEO are set by the organization's board of directors or other authority, depending on the organization's structure. They can be far-reaching or quite limited, and are typically enshrined in

2808-753: The "PolyGram" name in the process. In 1975, Peter Guber quit Columbia Pictures to start out FilmWorks with a producing deal. A year later, during the production of The Deep , it was merged with Casablanca Records to form Casablanca Records & FilmWorks . The company would enjoy success with The Deep and Midnight Express . The music company PolyGram (owned by Dutch -based Philips and Germany 's Siemens ) bought out its share of Casablanca Records & FilmWorks in 1977. Two years later, in 1979, Casablanca Record & Filmworks left Columbia Pictures to join Universal Pictures , and gave Casablanca Records & Filmworks creative control over

2886-535: The CEO is also the president, is the vice president (VP). An organization may have more than one vice president, each tasked with a different area of responsibility (e.g., VP of finance, VP of human resources). Examples of subordinate executive officers who typically report to the CEO include the chief operating officer (COO), chief financial officer (CFO), chief strategy officer (CSO), chief marketing officer (CMO) and chief business officer (CBO). The public relations -focused position of chief reputation officer

2964-473: The ITC Entertainment library was sold to Carlton Communications for £91 million, the pre-March 1996 PFE library was sold to MGM , and PolyGram's US distribution operation was sold to USA Network . After many of its assets were sold, the remains of PolyGram's film division were folded into Universal Pictures. When the newly formed entertainment division of Seagram faced financial difficulties, it

3042-528: The UK, chief executive and chief executive officer are used in local government , where their position in law is described as the "head of paid service", and in business and in the charitable sector . As of 2013 , the use of the term director for senior charity staff is deprecated to avoid confusion with the legal duties and responsibilities associated with being a charity director or trustee, which are normally non-executive (unpaid) roles. The term managing director

3120-422: The arena of manufacturing, are produced by uniquely talented individuals, especially the "heroic CEO". In effect, journalists celebrate a CEO who takes distinctive strategic actions. The model is the celebrity in entertainment, sports, and politics – compare the " great man theory ". Guthey et al. argues that "...these individuals are not self-made, but rather are created by a process of widespread media exposure to

3198-399: The ashes of PFE's international division on February 9, 1999 that included theatrical and video distribution; pulling out of CIC Video and nearly pulling out of United International Pictures . After the box office failure of Mickey Blue Eyes , a title inherited from PolyGram that ended up becoming one of the few titles that were self-distributed by Universal internationally until 2007, all

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3276-617: The case of a partnership , an executive officer is a managing partner, senior partner, or administrative partner. In the case of a limited liability company , an executive officer is any member, manager, or officer. Depending on the organization, a CEO may have several subordinate executives to help run the day-to-day administration of the company, each of whom has specific functional responsibilities referred to as senior executives, executive officers or corporate officers. Subordinate executives are given different titles in different organizations, but one common category of subordinate executive, if

3354-468: The case of television, a production company would serve under a television network . Production companies can work together in co-productions . In music, the term production team typically refers to a group of individuals filling the role of " record producer " usually reserved for one individual. Some examples of musical production teams include Matmos and D-Influence . The aforementioned publishing conglomerates distribute said creative works, but it

3432-483: The company purchased ITC Entertainment for $ 156 million. Through this purchase, PolyGram acquired 350 feature films, several thousand hours of television programming, and gained further access into the television market. That same year, PolyGram Filmed Entertainment acquired a 75% majority stake in British home video distributor Abbey Home Entertainment . In 1997, PFE agreed to purchase the Epic film library , which included

3510-455: The company's daily activities. In some cases, a production company can be run by only a handful of people. The company's funds are mainly committed towards employing talent, crew, and acquiring new updated production equipment on a regular basis. Many productions often require at least one to two cameras and lighting equipment for on location shooting. Production equipment is either leased or purchased from another production company or directly from

3588-450: The day-to-day business and one supervisory board for control purposes (selected by the shareholders). In these countries, the CEO presides over the executive board and the chairperson presides over the supervisory board, and these two roles will always be held by different people. This ensures a distinction between management by the executive board and governance by the supervisory board. This allows for clear lines of authority. The aim

3666-616: The deal did not include the ITC library, which in 1999, was sold to Carlton Communications (later known as ITV Studios ) for $ 150 million. Some of PFE's North American distribution assets, including PolyGram Video's US & Canada operations were sold to USA Networks . Universal would inherit the remaining titles, which included a third of the pre-April 1996 films, one-third of the post-April 1996 films, as well as PolyGram Television's library, and PolyGram Video's international operations. Universal would then set up their own international arm from

3744-506: The executive officers are usually the top officers of a corporation, the chief executive officer (CEO) being the best-known type. The definition varies; for instance, the California Corporate Disclosure Act defines "executive officers" as the five most highly compensated officers not also sitting on the board of directors. In the case of a sole proprietorship , an executive officer is the sole proprietor. In

3822-562: The existence of old boy networks , tradition, and the lack of female role models in that regard. Some countries have passed laws mandating boardroom gender quotas. In 2023 Rockefeller Foundation awarded a grant to Korn Ferry to research strategies and then action a plan to help more women to become CEO's. There are contentious claims that a significant number of CEO's have psychopathic tendencies, often characterized by power-seeking behavior and dominance. These individuals can often conceal their ruthlessness and antisocial behavior behind

3900-440: The exposure, when shooting in public locations, major productions often employ security to ensure the protection of the talent and crew working on a specific production. After filming is completed, the production enters into post production, which is handled by a post production company and overseen by the production company. The editing, musical score, visual effects, re-recording of the dialog, and sound effects are "mixed" to create

3978-440: The film and TV units eventually closed down by 1983 after a string of first-run syndication strip flops. In the early 1980s, PolyGram Video was launched. PolyGram Video, headed by Michael Kuhn and David Hockman, was created to distribute concert films and feature films acquired from third-parties, as well as long-form music videos and stand-up videos from the likes of Roy Chubby Brown , Jethro and Bernard Manning ; in 1986,

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4056-425: The final film, which is then screened at the final screening. Marketing is also launched during this phase, such as the release of trailers and posters. Once a final film has been approved, the film is taken over by the distributors, who then release the film. For legal reasons, it is common within the entertainment industry for production companies not to accept unsolicited materials from any other company, talent, or

4134-441: The general public. It is also common for filmmakers or producers to become entrepreneurs and open their own production companies so that they can have more control over their careers and pay, while acting as an "in-house" creative and business driving force for their company but continuing to freelance as an artist for other companies, if desired. Chief executive officer A chief executive officer ( CEO ), also known as

4212-426: The guild. Productions with smaller budgets are allowed to use both guild talent and talent from the public. The majority of the talent and crew working in the entertainment industry are members of their professions guild. Most productions in the entertainment industry are guild productions. A production company is responsible for the development and filming of a specific production or media broadcast. In entertainment,

4290-535: The licenses. This was due to Manga Entertainment being moved from Island Records to Palm Pictures. In 1992, PolyGram partnered with Universal Pictures to create a joint venture called Gramercy Pictures . Gramercy primarily distributed PolyGram films in the United States, and it doubled as a specialty label for Universal. In 1993, the company also had another distribution deal with Metro-Goldwyn-Mayer to fund and distribute its films. In January 1996, PolyGram bought out Universal's 50% stake and in 1997, PolyGram Films

4368-440: The manufacturer. In the entertainment industry, in order to secure experienced professional talent and crew, production companies often become a signatory company to that talent or crew members "guild". By becoming a signatory company, it agrees to abide by the guild regulations. All big budget guild productions are exclusive to guild members and non guild members are not allowed to participate in these productions unless authorized by

4446-424: The past. If a production company has major funding either through earnings, studio investors, or private investors, and has done or been involved with big budget productions in the past, it is considered to be a major production company. These companies often work with well-known and expensive talent. If a production company does not have much funding and has not done or been involved with any big budget productions, it

4524-464: The pictures. A year later, PolyGram took on its stake of the company and it was renamed to PolyGram Pictures in 1980. PolyGram reserved the finances and Guber would run as CEO . Guber would form a partnership with Barbra Streisand 's hairdresser Jon Peters , who co-produced his client's A Star Is Born remake. Peters would produce PolyGram's films, and eventually become a stockholder with Guber. He had intended to work with Boardwalk Records , but he

4602-409: The point that their actions, personalities, and even private lives function symbolically to represent significant dynamics and tensions prevalent in the contemporary business atmosphere". Journalism thereby exaggerates the importance of the CEO and tends to neglect harder-to-describe broader corporate factors. There is little attention to the intricately organized technical bureaucracy that actually does

4680-575: The production itself, post-production , distribution, and marketing . Production companies are often either owned or under contract with a media conglomerate , film studio , record label , video game publisher , or entertainment company, due to the concentration of media ownership , who act as the production company' s partner or parent company . This has become known as the "studio system". Independent studios usually prefer production house (see Lionsgate ), production studio (see Amazon Studios ), or production team (see Rooster Teeth ). In

4758-416: The production process begins with the development of a specific project. Once a final script has been produced by the screenwriters, the production enters into the pre-production phase, most productions never reach this phase for financing or talent reasons. In pre-production, the actors are signed on and prepared for their roles, crew is signed on, shooting locations are found, sets are built or acquired, and

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4836-406: The production team has not only the running crew , but also the theatrical producer , designers , and theatrical direction . The production company may be directly responsible for fundraising the production or may accomplish this through a parent company , partner, or private investor. It handles budgeting, scheduling, scripting, the supply with talent and resources , the organization of staff,

4914-486: The production's shooting locations for both privacy and safety reasons. In many cases, the director, producers, and the leading actors are often the only people with access to a full or majority of a single script. Supporting actors, background actors, and crew often never receive a full copy of a specific script to prevent leaks. Productions are often shot in secured studios, with limited to no public access, but they are also shot on location on secured sets or locations. Due to

4992-552: The proper shooting permits are acquired for on location shooting. Actors and crew are hand picked by the producer, director, and casting director, who often use collaborators or referenced personnel to prevent untrusted or unwelcomed people from gaining access to a specific production and compromising the entire production through leaks. Once a production enters into principal photography, it begins filming. Productions are almost never cancelled once they reach this phase. Codenames are often used on bigger productions during filming to conceal

5070-517: The publishing field, publishers have started to enter the film and TV production business to boost their net income with Amazon attempting to compete there too. More screenwriters are turning to book publishers to get their screenplay published as a book, so as to have a boost in their attempt to have the screenplay turned into a movie, given that it is a known product after the book. Publisher Simon & Schuster , though not involved with film and TV, shares possible film and TV deals with CBS (S&S

5148-566: The revenue into one company (example: a film production company, TV production company, video game company, and comic book company are all owned by a single entertainment company). A motion picture company, such as Paramount Pictures , specializing "only" in motion pictures is only connected with its other counterpart industries through its parent company. Instead of performing a corporate reorganization, many motion picture companies often have sister companies they collaborate with in other industries that are subsidiaries owned by their parent company and

5226-774: The role of the main manager of the organization and the highest-ranking officer in the C-suite . The term "chief executive officer" is attested as early as 1782, when an ordinance of the Congress of the Confederation of the United States of America used the term to refer to governors and other leaders of the executive branches of each of the Thirteen Colonies . In draft additions to the Oxford English Dictionary published online in 2011,

5304-415: The talent. Marketing is also a major factor. All films, as a tradition, are often marketed around the image and the performance of the actors; with an option of marketing the behind the scenes crew such as the directors and screenwriters. Unlike many other businesses, a production company does not rely on an ongoing revenue stream , they operate on ongoing investments; this often requires a parent company or

5382-409: The term "executive director" is used primarily in the not-for-profit sector. These terms are generally mutually exclusive and refer to distinct legal duties and responsibilities. The CEO is the highest-ranking executive in a company, making corporate decisions, managing operations, allocating resources, and serving as the main point of communication between the board of directors and the company. In

5460-555: The theatrical assets of Universal Pictures International were folded into United International Pictures, which continued to exist until 2007. PolyGram Video took over the distribution of Manga Entertainment 's titles in Australia and New Zealand in late 1996 after Siren Entertainment's license to the Manga Video catalog expired, but PolyGram lost the license to the Manga Video catalog in 1998 after Madman Entertainment took over

5538-486: The time controlled Universal Pictures , looked forward to divesting in PFE. After being dissatisfied with offers to buy the studio (including a joint venture between Canal+ and Artisan Entertainment ), Seagram opted to sell off individual assets and folded whatever remained into Universal. In October 1998, Metro-Goldwyn-Mayer paid $ 235–250 million to acquire 1,300 films released before March 31, 1996, from PolyGram, however,

5616-422: The time, Philips was seen as a bloated conglomerate riddled with problems; Boonstra initially denied that PolyGram would be sold. However, by early 1998, Boonstra's attitude had shifted and various bidders began to make themselves known, as Philips began to pursue a manufacturing-only business model. At the same time, PolyGram had been suffering from their own internal issues, chiefly a series of loss-making films and

5694-457: The work. Hubris sets in when the CEO internalizes the celebrity and becomes excessively self-confident in making complex decisions. There may be an emphasis on the sort of decisions that attract the celebrity journalists . Research published in 2009 by Ulrike Malmendier and Geoffrey Tate indicates that "firms with award-winning CEOs subsequently underperform, in terms both of stock and of operating performance". Executive compensation has been

5772-802: The workplace. This perspective is explored in the book Snakes in Suits , co-authored by Robert D. Hare . However, Scott Lilienfeld has argued that the attention given to psychopathy in the workplace by both the media and scholars has far exceeded the available scientific evidence. Emilia Bunea, writing in Psychology Today , has linked psychopathic traits in managers to workplace bullying , employee dissatisfaction, and turnover intentions. Despite this, Bunea cautions that excessive worry about supposed psychopathic managers could discourage individuals from pursuing careers in corporations and deter employees from addressing issues with difficult bosses. In

5850-764: Was forced to join PolyGram Pictures instead. The first film under the Universal/PolyGram alliance was King of the Mountain (1981), which was a box-office flop. More money-losers followed. Ancillary markets such as home video and pay television were not yet established, and broadcast television networks were paying less for licenses to films. PolyGram's European investors were not happy; they had lost about $ 80 million on its film division. Not long after, Siemens parted with Philips. Guber and Peters left PolyGram Pictures in 1982, taking their plans for

5928-412: Was founded to release PFE's mainstream titles in the United States, while Gramercy became a low-budget/art-house sublabel. PolyGram Films' first release was The Game . When PolyGram was acquired by Universal in 1999, the company merged Gramercy with October Films , which included its subsidiary Rogue Pictures to create USA Films, which eventually became Focus Features . Gramercy was revived in 2015 as

6006-649: Was restructured at the end of 2010 under new management and currently struck deals with some of the Big Six studios (most notably the Sony Pictures Motion Picture Group and Warner Bros. ); Miramax , which was downsized by former owner Disney into a smaller division. Because a production company is only operational when a production is being produced and most of the talent and crew are freelancers , many production companies are only required to hire management staff that helps to oversee

6084-536: Was sold to Vivendi , and MCA became known as Universal Studios, as Seagram ceased to exist. Vivendi remained the majority owner of the UMG until 2021, when it sold most of its stake. MGM owns the rights to most of the pre-April 1996 library, and the remaining post-March 1996 film and television library is owned by NBCUniversal . On February 11, 2017, Universal Music Group established a film and television division and named it PolyGram Entertainment , thus fully resurrecting

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