1980
Michael Cimino’s Heaven Gate is a huge box-office disaster. Budgeted at $44 million, it recoups only $3.5 million leading Transamerica to withdraw from the film industry and sell United Artists.
Sherry Lansing becomes president of 20th Century Fox, the first woman to head a major production company.
Raging Bull, directed by Martin Scorsese, is released. Released by United Artists, the film comes to mark the end of the New Hollywood era.
1981
Oil tycoon Martin Davis buys 20th Century Fox.
The MGM/UA Entertainment Company is formed after Kirk Kerkorian buys United Artists from Transamerica.
1982
Steven Speilberg’s E.T: The Extra-Terrestrial (Universal) becomes the highest-grossing film of all time.
Columbia Pictures is bought by The Coca-Cola Company. Partnering with HBO and CBS, Columbia forms Tri-Star Pictures.
1983
George Lucas’ Star Wars trilogy comes to a close with the release of Return of the Jedi. Directed by Richard Marquand, it is the first film to use THX technology.
Warner Communications Inc. restructres to concentrate on film and television production and distribution.
1984
Touchstone Pictures is formed by Disney’s new management, led by Michael Eisner and Jeffrey Katzenberg.
In response to controversey over Steven Speilberg’s Indiana Jones and the Temple of Doom (Paramount), the PG-13 rating is introduced.
Japan becomes the largest importer of American films.
1985
The major studios return to buying movie theatre chains after the 1948 decree is reversed.
Home video business generates $2.1 billion, more revenue than theatrical rentals.
Rupert Murdoch buys 20th Century Fox, whilst MGM/UA is bought by Ted Turner.
1986
Britsh producer David Putnam becomes chairman and CEO of Columbia.
30,000 video stores are now recorded in the US.
Pixar Animation Studios is founded by Edwin Catmull and Alvy Ray Smith.
1987
The James Bond film series celebrates its 25th anniversary with its 15th film, The Living Daylights, directed by John Glen,
25% of the top 100 films are released by independent prouction companies.
1988
50% of American households own VCRs.
Video sales of E.T generate S150 million.
The success of Who Framed Roger Rabbit renews interest in the Golden Age of Animation and sperheads both modern American animation and the Disney Renaisance.
1989
Columbia is bought by the Sony Corportation.
WCI merges with Time Inc. to become Time Warner, the world’s largest conglomerate.
Back to the Future Part II, Ghostbusters II, Indiana Jones and the Last Crusade, Lethal Weapon 2 are all sequels released this year. Another major franchise also begins with Tim Burton’s Batman.
film-journalist.com 