November 8, 1989 |
Sony Corp. said Tuesday that it has completed its $3.4-billion buyout of Columbia Pictures Entertainment Inc., the film and television production giant. The Japanese electronics and records company said that its $200-million tender offer for Guber-Peters Entertainment Co., a Hollywood production concern, had also expired and that about 99.5% of Guber-Peters' shares were either tendered or promised by the deadline.
November 1, 1989 |
After more than a week of filing bitter accusations against each other in court, Warner Bros. and Sony Corp. reached a tentative settlement Tuesday that would release producers Peter Guber and Jon Peters from their Warner contract--leaving them free to manage Columbia Pictures Entertainment for its new parent company, Sony.
November 1, 1989 |
Until a few days ago, "Tango and Cash" was a forgotten element in the legal battle between Sony and Warner Bros. over the rights to Hollywood's hottest production company,Guber-Peters Entertainment. Now, by declaring in court papers that they were taken off the movie by Warner two days before Sony asked them to run Columbia Pictures, producers Peter Guber and Jon Peters have pushed "Tango and Cash" into the foreground.
October 31, 1989
I was disappointed to read your editorial. As a graduate of South Pasadena High School and a resident of Alhambra, I have friends on both sides of the issue. Beyond the destruction and disruption of a small town that this construction would bring, there is one concern that stands out. That is the problem of the proximity of this proposed link to South Pasadena High. If I were emperor of the universe, it would be a capital crime to even consider placing a freeway near a school.
October 27, 1989 |
The "Hollywood embrace" gained new meaning Thursday with the filing of court documents describing in detail the dispute between Warner Bros. and Sony Corp. for the executive talents of Peter Guber and Jon Peters, producers of this summer's smash hit, "Batman." According to pleadings filed by Guber and Peters' lawyers, Warner production president Terry Semel "hugged and congratulated" Peter Guber upon learning on Sept.
October 20, 1989 |
In a legal move that casts new doubt over Sony Corp.'s staffing plans for Columbia Pictures, Warner Bros. on Thursday filed a motion for a preliminary injunction to prevent the Japanese electronics giant from hiring producers Peter Guber and Jon Peters. If a Los Angeles Superior Court judge grants the motion at a hearing set for Nov. 2, Sony could be forced to look elsewhere for top talent to run Columbia, which the Japanese firm is now buying through a $3.
October 16, 1989 |
In his 1986 memoir, Sony Corp. Chairman Akio Morita berated American executives for their bad habit of jumping ship the minute a competitor offered more pay or a quick promotion. "I vowed that my company would do its best to avoid adopting this aspect of American managerial technique," he wrote. Still, Morita's top U.S. executives spent most of last week tangling with Time Warner Inc.
October 14, 1989 |
A tug-of-war between Sony Corp. and Warner Bros. for the movie-making talents of Peter Guber and Jon Peters turned nastier Friday as Warner filed a $1-billion lawsuit accusing Sony of unlawfully recruiting the producers to run Columbia Pictures Entertainment while under contract to Warner.
October 11, 1989 |
Sony Corp. said Tuesday that it would proceed with its $200-million acquisition of Guber-Peters Entertainment Co. regardless of whether Jon Peters and Peter Guber obtain releases from their five-year movie production contract with Warner Bros. The Japanese consumer electronics giant had previously said the offer would expire Oct. 25 if Guber and Peters didn't get the release. The film producers are to be named co-chairmen of Columbia Pictures Entertainment when Sony completes its $3.
October 6, 1989 |
In an unusually rich compensation package, Sony Corp. has promised five prospective managers of soon-to-be-acquired Columbia Pictures Entertainment a lump-sum payment of $50 million and a percentage of studio profits, in addition to their multimillion-dollar salaries and a promised stake in the company's future appreciation.