Arthur B. Krim, United Artists, and Transamerica Corporation / 1970s
After Transamerica Corporation acquired 98 percent of United Artists in 1967, tensions grew between the conglomerate and the executives who had rebuilt UA as a filmmaker-driven company. Transamerica objected to releases such as Midnight Cowboy and Last Tango in Paris carrying an X rating from the Motion Picture Association of America. The parent company demanded that the “A Transamerica Company” byline be removed from prints and advertising for those films and even considered replacing the United Artists name with Transamerica Films. Arthur Krim, who had helped transform UA into a highly profitable distributor of independent productions, tried to persuade Transamerica to spin the company off. The dispute worsened over corporate administration and expenses, culminating in a confrontation with Transamerica chairman John R. Beckett in 1978. Krim, president Eric Pleskow, Robert Benjamin, and other senior executives walked out almost as a group. Within days they announced the formation of Orion Pictures with backing from Warner Bros. The mass departure was treated in Hollywood as a corporate disaster: industry figures placed a trade-paper advertisement warning Transamerica that it had made a fatal mistake by allowing the executives to leave. The episode marked the collapse of the relationship between UA’s independent-production culture and its conglomerate owner.
Follow the sources
Status and citations are supplied by the archive. AI concept art is an interpretation, not historical evidence.