Word: carolco
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With his gold jewelry, corporate jet, Beverly Hills compound and walkie- talkie-toting bodyguards, Kassar is the picture of Hollywood happiness. The industry's overpaid stars love him. But the 39-year-old chairman of Carolco Pictures, the father of the lucrative Rambo series, is coming under fire from investors for squandering money on his films and himself. And major studio bosses claim that his extravagance is hurting the business. For Sylvester Stallone's role in Rambo III, Kassar handed the star $16 million, more than the entire budget of First Blood, the series' opener. The cumbrous Arnold Schwarzenegger raked...
Other global entertainment deals are being done almost daily. Last week the Japanese electronics maker Pioneer bought the Japanese rights to all Carolco films, which include the Rambo series and Total Recall. Yet control of the remaining three U.S.-owned studios seems likely to remain in American hands. To reduce its $11 billion debt load, Time Warner is looking abroad for partners to take minority stakes in some of its entertainment subsidiaries. "We agree with Matsushita's concept ((of globalization)), but we disagree % with the execution," says Time Warner chairman Steven Ross. "Parent companies should keep their national identities...
...solve a murder. Black wrote the script "on spec," meaning on a speculative basis with no studio commission, a status that entitled him to shop it around for the highest price. The bidding started with an offer of $850,000 from 20th Century Fox and escalated until Carolco Pictures reached a top bid of $2.25 million. But the screenwriter went with the lower bid by Geffen because he agreed to hire producer Joel Silver, who handled Lethal Weapon...
...Nolte's streetwise sidekick in Another 48 Hrs., Eddie Murphy will take home at least $8 million, plus a share of the film's revenues. Arnold Schwarzenegger can count on $10 million for starring in Total Recall, a $50 million-plus sci-fi picture filmed by Los Angeles-based Carolco and distributed by Tri-Star...
...Laurentiis, who left DEG under pressure in 1988, is now struggling to quash the firm's case against him. Carolco Pictures, which has agreed to buy DEG's assets for $39 million, aims to pursue the charges. De Laurentiis has struck back with a dubious list of $79 million in claims against the company. The producer has blamed everyone but himself for DEG's woes, a version that doesn't play well with Hollywood insiders. "Dino was clearly, unequivocably, unquestionably responsible for what happened to this company," says Stephen Greenwald, DEG's former chairman. "His attempts to evade that responsibility...