United Artists / Transamerica / Arthur B. Krim, Eric Pleskow, Robert Benjamin / 1970s
In the late 1960s and ’70s United Artists had become a cultural force, distributing landmark and controversial films. But after Transamerica Corporation bought 98% of UA in 1967 the marriage grew toxic. Transamerica publicly fretted about UA releases such as Midnight Cowboy and Last Tango in Paris—both X‑rated at the time—and demanded the removal of the tagline “A Transamerica Company” from prints and advertising when the parent wanted to dissociate its brand. At various points Transamerica even contemplated phasing out the UA name entirely. Tensions over administrative expenses and corporate control peaked in 1978 when chairman John R. Beckett clashed with UA leadership. Within days Arthur B. Krim, president Eric Pleskow, Robert Benjamin and other senior officers walked out and announced the formation of Orion Pictures with backing from the major studios, a dramatic public rupture that shook Hollywood. The departures were so rancorous that industry figures ran a trade‑paper advertisement warning Transamerica that it had made a ‘‘fatal mistake’’ letting the UA executives go. The walkout not only fractured UA’s executive core but helped seed Orion—an independent production force that would itself go on to be both lauded and troubled—while underscoring the ongoing, combustible tug‑of‑war between creative executives and corporate owners in late‑20th‑century Hollywood.
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