19 Facts About Carolco


Carolco Pictures, Inc was an American independent film studio that existed from 1976 to 1995, founded by Mario Kassar and Andrew G Vajna.

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Carolco hit its peak in the 1980s and early 1990s, with blockbuster successes including the first three films of the Rambo franchise, Total Recall, Terminator 2: Judgment Day, Basic Instinct, Universal Soldier, Cliffhanger and Stargate.

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On May 15,1984, Carolco Pictures entered into a long-time agreement with then-up-and-coming film distributor and fledging studio Tri-Star Pictures, whereas Tri-Star would distribute films in North America, whereas HBO handled pay cable TV rights, and Thorn EMI Video, which handled North American home video distribution rights.

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On May 14,1986, Carolco decided to restructure their corporation into a new structure with Peter Hoffman hired as president and CEO of the studio, and decided to set up subsidiaries and alliances within the branch of the own Carolco movie studio.

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On December 24,1986, Carolco expanded into video retail holdings by acquiring Filk's Video, which was a Woolbridge, New Jersey video store that has been officially opened shortly and that they teamed up with Tom House of the New York-area American Video Enterprises chain, in order to expand the distribution channels of the Carolco material, and it would be simultaneously with Paramount's move into video retailers.

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Carolco acquired the rights to make a sequel to The Terminator from Hemdale Film Corporation in 1990 .

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Halfway through the year, Carolco entered into a joint venture with New Line Cinema to start Seven Arts, a distribution company which primarily released much of Carolco's low-budget output.

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Carolco struggled for some years to secure the rights to Spider-Man, a property that Cameron was keen to produce as a film.

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Carolco attempted to make Bartholomew vs Neff, a comedy film that was to have been written and directed by John Hughes and would have starred Sylvester Stallone and John Candy.

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In 1992, Carolco went under a corporate restructuring, invested in by a partnership of Rizzoli-Corriere della Sera of Italy, Le Studio Canal+ of France, Pioneer, and MGM.

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In 1993, Carolco was forced to sell its shares in LIVE Entertainment to a group of investors led by Pioneer; it was later renamed Artisan Entertainment, which was bought by Lions Gate Entertainment.

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Cutbacks at Carolco forced the studio to make a deal with TriStar over the funding of the Stallone action film Cliffhanger: Carolco would have to sell full distribution rights in North America, Mexico, Australia, New Zealand, Germany, and France to TriStar in exchange for half of the film's budget.

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However, Carolco was able to complete a merger with The Vista Organization in late October 1993.

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Carolco attempted a comeback with the big-budget swashbuckler Cutthroat Island, with Michael Douglas in the lead.

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In October 1994, Carolco ran out of funds and Pioneer invested another $8 million.

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Carolco agreed to sell its assets to 20th Century Fox for $50 million.

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However, on April 7,2016, it was announced that both Bafer and Kassar had left the company, Kassar taking with him one of Carolco's planned projects, a remake of the 1999 Japanese horror film Audition which he was producing.

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The ancillary rights to Carolco's library are held by French production company StudioCanal, since its parent company, Canal+ Group, owned a stake in Carolco, eventually buying out its partners.

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In 1992, Carolco Pictures licensed television distribution rights to its library to Spelling Entertainment's Worldvision Enterprises in order to pay off debt.

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