Word: hollywoodizations
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Dates: during 1990-1999
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...until last week, however, that Sony finally removed Schulhof, the architect of its Hollywood dreams and the only American ever to sit on its board. With Morita sidelined since his 1993 stroke and unable to protect him, and new president Nobuyuki Idei, 57, clearly ascendant, Schulhof, 53, resigned after conferring with Sony chairman Norio Ohga, his remaining Tokyo mentor. Ohga "felt he had no choice but to support Mr. Idei," Schulhof told Time in an interview. "Therefore I could not stay here...
There was little sympathy for Schulhof in Hollywood, where fellow moguls delighted in the downfall of a rival who was widely regarded as an interloper. Schulhof, the buzz said, may have been in Hollywood, but he was never really of it. Schulhof added to Sony's Hollywood expenses with the corps of studio chieftains who came and went at TriStar and Columbia, often departing with golden handshakes. Guber reportedly left with $40 million and a $200 million agreement from Sony to back him in a new company, an arrangement that was said to have infuriated Idei. A Hollywood executive summed...
...while Sony may be at a crossroads, the company staunchly denies having plans to leave Hollywood. Idei has stressed the importance of both entertainment and electronics to the future of Sony. He hammered home the point again last week in a statement declaring that "there is a definite linkage of hardware and software. Our companies will work together to maximize our business opportunities. That's Sony's big advantage." To further buttress this notion, Idei said, the heads of Sony's U.S. film, music and electronics businesses will for the first time sit together on the executive committee that oversees...
...course. But Sony continues the lavish spending on software that Schulhof charted. Last week Variety reported that TriStar agreed to pay Tom Cruise $20 million up front to star in the comedy Jerry Maguire. It was the third $20 million payday that Sony has recently served up to top Hollywood talent...
Fond of movies, she first invested in Hollywood studios, including Universal and Paramount, and kept a tally of their attendance rates. She also bought stock in about 100 blue chips and large franchise corporations, such as Coca-Cola and PepsiCo, and drug companies like Bristol-Myers Squibb and Schering-Plough. Her investments grew quickly, says William Fay, her stockbroker for 25 years. "After World War II, stocks really took off. While $5,000 sounds like a nominal amount, it could have increased fivefold in five years," says Fay, who retired from Merrill Lynch two years ago. At Scheiber's death...