New World Entertainment: Difference between revisions
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In 1987, New World acquired [[Learning Corporation of America]], [[Highgate Pictures]], and Marvel Comics and was renamed to '''New World Entertainment''', but started to face financial problems in 1989. First, Marvel Comics was sold to Ronald O. Perelman and within months, Perelman acquired New World as well. New World's movie division was slowly shut down and the company's home video assets were sold to [[Trans Atlantic Entertainment]], effectively shutting down the video division. In 1990, LCA and Highgate Pictures were shut down. | In 1987, New World acquired [[Learning Corporation of America]], [[Highgate Pictures]], and Marvel Comics and was renamed to '''New World Entertainment''', but started to face financial problems in 1989. First, Marvel Comics was sold to Ronald O. Perelman and within months, Perelman acquired New World as well. New World's movie division was slowly shut down and the company's home video assets were sold to [[Trans Atlantic Entertainment]], effectively shutting down the video division. In 1990, LCA and Highgate Pictures were shut down. | ||
In 1991, New World sold most of its non-Marvel program library to [[Sony Pictures Entertainment]], who used the library to relaunch [[TriStar Television]]. New World then acquired the bankrupt television stations group SCI Television in 1992 and was renamed to "New World Communications" in 1993 after folding GCI Broadcast Services. New World also purchased stakes in the distributor [[Genesis International|Genesis Entertainment]]. New World bought Brandon Tartikoff's production company, Moving Target Productions, when Tartikoff joined the company. New World acquired the remaining stakes of Genesis Entertainment in 1994 and reincorporated it as New World/Genesis Distribution. New World acquired [[Cannell Entertainment]] on July 31, 1995 for $30 million. | In 1991, New World sold most of its non-Marvel program library to [[Sony Pictures Entertainment]], who used the library to relaunch [[TriStar Television (1991-1999)|TriStar Television]]. New World then acquired the bankrupt television stations group SCI Television in 1992 and was renamed to "New World Communications" in 1993 after folding GCI Broadcast Services. New World also purchased stakes in the distributor [[Genesis International|Genesis Entertainment]]. New World bought Brandon Tartikoff's production company, Moving Target Productions, when Tartikoff joined the company. New World acquired the remaining stakes of Genesis Entertainment in 1994 and reincorporated it as New World/Genesis Distribution. New World acquired [[Cannell Entertainment]] on July 31, 1995 for $30 million. | ||
On January 22, 1997, News Corporation (later [[21st Century Fox|21st Century Fox Inc.]], now part of [[The Walt Disney Company]]), then-parent company of [[20th Century Studios|20th Century Fox]], acquired the remainder of New World Communications, and with it the rights to many New World's television programs with some exceptions (''Tour of Duty'', ''Sledge Hammer!'' and ''Get a Life'' are held by [[Sony Pictures Television]], the Marvel programs are held by Disney after acquiring [[Saban Entertainment]] (and later, [[Marvel Studios|Marvel Comics]]), and most of the Cannell library is currently owned by the Cannell Studios, with distribution rights currently held by [[Shout! Factory]]), some post-1988 feature films, the New World/Genesis backlog and [[Cannell Entertainment]], which effectively ended the company. | On January 22, 1997, News Corporation (later [[21st Century Fox|21st Century Fox Inc.]], now part of [[The Walt Disney Company]]), then-parent company of [[20th Century Studios|20th Century Fox]], acquired the remainder of New World Communications, and with it the rights to many New World's television programs with some exceptions (''Tour of Duty'', ''Sledge Hammer!'' and ''Get a Life'' are held by [[Sony Pictures Television]], the Marvel programs are held by Disney after acquiring [[Saban Entertainment]] (and later, [[Marvel Studios|Marvel Comics]]), and most of the Cannell library is currently owned by the Cannell Studios, with distribution rights currently held by [[Shout! Factory]]), some post-1988 feature films, the New World/Genesis backlog and [[Cannell Entertainment]], which effectively ended the company. | ||