章 68: Chapter 68: Carolco Pictures
In early June, with the North American box office of Sleepless in Seattle reaching one hundred million dollars, Arthur Smith received an invitation from Columbia TriStar to attend the premiere of Schwarzenegger's sci-fi action blockbuster Total Recall!
This action movie, directed by Dutch director Paul Verhoeven and produced by Carolco Pictures, cost $65 million to make.
Surrounded by fans and reporters on the red carpet at the TCL Chinese Theatre on Hollywood Boulevard, Arthur guessed that he was invited probably because he had several movies currently being distributed by Columbia TriStar.
Castle Rock didn't need to be mentioned; they already had a cooperation agreement with Columbia TriStar, and Orion's overseas distribution was also handled by Columbia TriStar!
Currently connected to Arthur's work, Sleepless in Seattle was produced by Castle Rock and distributed by Columbia TriStar.
Sleeping with the Enemy was produced by Orion, self-distributed in North America, and handled by Columbia TriStar for international distribution.
The Silence of the Lambs, currently in production, was made by Orion, responsible for the North American market, and Columbia TriStar handling the international market!
"Arthur, good evening, I'm Peter Hoffman, President of Carolco," as Arthur arrived in the theater's lounge, he was approached by a middle-aged man.
"Good evening, Mr. Hoffman," Arthur, of course, knew about Carolco Pictures. The current company owner, Mario Kassar, was quite an interesting character.
"Arthur, actually, Carolco Pictures is more suitable for you than Orion because our cash flow is very abundant. Don't you agree?" Peter Hoffman said, pulling Arthur to sit on a chair.
Arthur sighed, "Mr. Hoffman, I'm not from Orion. I've just collaborated with them on a couple of projects recently!"
"Carolco can also collaborate. We won't underestimate you because you're young," Peter Hoffman chuckled.
Arthur looked at him, "The films I develop aren't blockbusters. Does Carolco still consider my low-budget projects?"
Carolco, founded in the seventies by Mario Kassar and Andrew Vajna, made a name by investing in Stallone's First Blood series.
Due to differing opinions, Andrew Vajna sold his shares and left the company. Mario Kassar now focused on big-budget strategies.
Carolco Pictures is currently known as a mini-major studio, second only to the big six and comparable to MGM, with a focus on big investments and major stars.
Hollywood stars' skyrocketing pays are largely due to Carolco!
"Two scripts. Sleepless in Seattle has now grossed over a hundred million dollars in North America, while American Pie, with less than a ten million dollar investment, has grossed over forty million dollars," Peter Hoffman said, impressed. "Arthur, Carolco doesn't only invest in big-budget movies!"
Arthur laughed inwardly. Who were they kidding? A hundred-million-dollar investment in Terminator 2, and Schwarzenegger's salary was a private Gulfstream III jet worth over $15 million!
"Mr. Hoffman, Carolco spent $5 million earlier this year to buy half the rights to The Terminator from Hemdale Film Corporation. They partnered with James Cameron and Arnold Schwarzenegger and invested $100 million to develop the sequel," Arthur shook his head.
"Orion even handed over the distribution rights to Columbia TriStar, which isn't a secret!"
The script for The Terminator was originally sold by James Cameron to his ex-wife Gale Anne Hurd for $1 to secure the directing role for Pacific Western Productions.
Pacific Western Productions, a newly established small company at the time, didn't have the funds to shoot The Terminator.
Therefore, Gale Anne Hurd sold half the rights to Hemdale Film Corporation and teamed up with Orion as the distributor to develop The Terminator.
Subsequently, James Cameron solidified his fame with the film, married and divorced Gale Anne Hurd. Now, needing a large sum of money to prepare for Terminator 2, Hemdale Film Corporation couldn't afford to play that game.
Carolco Pictures stepped in, bought half the rights to The Terminator from Hemdale Film Corporation, and invested in what is currently their most costly project.
Carolco, solely a film production company without distribution capabilities, transferred distribution rights from the independent distributor Orion to Columbia TriStar.
However, as the main financier of the project with a $100 million investment, it wasn't an easy undertaking for Carolco!
"Arthur, Carolco has high hopes for you and sincerely wishes for you to join us," Peter Hoffman genuinely believed in Arthur's potential.
"Join?" Arthur shook his head. "I established Galaxy Pictures to be an independent filmmaker, to shoot movies the way I want!"
Besides, even if Arthur were to join another film company, he wouldn't choose Carolco. They weren't a distributor, and Carolco's chairman, Mario Kassar, was obstinate, focused on large productions and big stars, which Arthur didn't like.
That approach was entirely disrupting the market. The record-breaking salaries for Stallone and Schwarzenegger were all Carolco's doing!
Peter Hoffman stopped smiling. "Carolco is willing to spend $3 million to buy 60% of Galaxy Pictures' shares and sign a three-year contract, with you continuing to manage the company. How about it?"
Arthur paused for a moment, then looked at Peter Hoffman as if he were an idiot. Do they think I'm a fresh graduate?
"Three million dollars? That's a lot!" Arthur sighed. Although Galaxy Pictures was currently an empty shell without any assets, was a three-year contract only worth $3 million?
Just recently, Arthur had spent $400,000 buying scripts! Nowadays, the annual salaries for heads of small film companies range between $300,000 and $500,000, and adding bonuses, exceeding a million isn't common!
But Arthur already had a film that grossed over a hundred million dollars. A single script could be worth $400,000 to $500,000.
Which was far beyond what Peter Hoffman, an operational president of an independent film company, could compare with.
"Mr. Hoffman, Sleepless in Seattle is my first script and the first project I participated in producing. You know how profitable it is. Before the movie was even released, Columbia TriStar had already expressed interest in having me join them," Arthur said, shaking his head.
"If Sleeping with the Enemy, set for release at the end of the year, performs well, do you think I'll lack distributors investing in my movies? And if next year's The Silence of the Lambs is also successful, the price of my next script might very well be $3 million!"
Peter Hoffman couldn't miss the sarcasm in Arthur Smith's words. "Arthur, it's good for young people to have ambition, but you shouldn't be too arrogant."
Faced with such arrogance, Arthur merely smiled, "What's the point of being young if not a bit reckless?"
Had it been Mario Kassar in person, Arthur might have shown a bit more respect. Peter Hoffman, however, was just a professional manager, not even a partner at Carolco, unworthy of Arthur's time.
Besides, Carolco Pictures would go bankrupt in a few years. As merely a production company, they weren't on Arthur's radar. Had they been an independent distributor, Arthur might have had a bit more respect!
*****
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