Lew Wasserman
This article needs additional citations for verification. (June 2023) |
Lew Wasserman | |
---|---|
Hillside Memorial Park, Culver City, California | |
Occupation(s) | Hollywood studio head; talent agent |
Spouse |
Edith Beckerman (m. 1936) |
Children | 1 |
Lewis Robert Wasserman (March 22, 1913 – June 3, 2002) was an American businessman and
Career
Early life
Wasserman was born to a
Hollywood career
Under Wasserman, MCA branched out into representing actors and actresses in addition to musicians and in the process created the
Wasserman was an influential player and fundraiser in the Democratic Party, but was also a lifelong and instrumental advocate, mentor, and close friend of Reagan's.[4] The Newsmeat Power Rankings identify Wasserman and his close friend Jack Valenti as two of the top five "most famous and powerful Americans whose campaign contributions result most often in victory."[5]
At MCA, Wasserman expanded upon a business practice known as
Wasserman expanded on practices established by earlier agents. For example, Feldman and Selznick realized in the late 1930s that an actor could pay much less tax by turning himself into a corporation. The corporation, which would employ the actor, would own part of a motion picture in which the actor appeared, and all monies would accrue to the corporation, which was taxed at a much lower rate than was personal income.[citation needed]
Wasserman used this tax avoidance scheme with actor James Stewart, beginning with the Anthony Mann western Winchester '73 (1950). This marked the first time an onscreen talent ever received "points in the film"[clarification needed] – a business tactic that skyrocketed after Wasserman's negotiation and Stewart's ensuing success.[citation needed]
Following the rising postwar popularity of television and the resulting near bankruptcy of many studios, Wasserman purchased
According to the 2003 book When Hollywood Had a King: The Reign of Lew Wasserman, Who Leveraged Talent into Power and Influence, Wasserman was interested in acquiring The Walt Disney Company in 1984, and this deal came within inches of actually happening:[6]
In 1984, MCA held talks about acquiring Walt Disney Studios when that company was trying to repel the advances of investor Saul Steinberg. "All the terms were done," said Barry Diller, who had learned what happened from one of the principals. "But the Disney family said that Ron Miller [a Disney executive] had to be [MCA] president. [MCA president and COO] Sid [Sheinberg] said to Lew, "It's fine." Felix [Rohatyn, the investment banker advising MCA] said to Lew, "Do it – a year from now, you'll get rid of Miller, and make Sid President." But Lew said "No. Sidney is president." "It was Lew's inflexibility that caused him to blow deals he should not have blown," Diller added. "He and Jules had built the best company – they should have owned the world. And had they made this deal with Disney, everything would have been different."
As a tribute to the man who essentially built the park, the New York section of
Political connections
According to Dan Moldea's survey Dark Victory: Ronald Reagan, MCA, and the Mob (which inspired Clara and Julia Kuperberg's 2017 TV documentary Ronald Reagan: un Président Sur Mesure), Wasserman was the link between the Mafia, the Hollywood film industry and Reagan, who obtained very lucrative deals as an actor with Wasserman as his agent. By 1947, just after Al Capone died, and still with the help of his alliance with the underworld, Wasserman was instrumental in helping Reagan to become president of the Screen Actors Guild, which kicked-off Reagan's rise to power. Reagan allowed MCA to work both as a producer as well as an agent, which enabled the Mafia to earn a huge income.
Last years
In 1993, Wasserman created Universal CityWalk and made numerous, substantial changes to the Universal City area. Wasserman pocketed an estimated $350 million from the sale of MCA and remained as manager, but with vastly diminished power and influence, until Seagram bought controlling interest in 1995, which then resulted in his role becoming even more marginalized. Wasserman served on the board of directors until 1998. On September 29, 1995, Wasserman was presented with the Presidential Medal of Freedom by President Bill Clinton. In 1996, he was inducted into the Television Hall of Fame.[7]
Wasserman died of complications from a stroke in Beverly Hills in 2002 and was interred in
Personal life
Wasserman was married to Edith "Edie" Beckerman, who was also Jewish.
Wasserman's granddaughter, Carol Ann Leif, is a stand-up comedian.[10]
Wasserman's widow, Edie, died on August 18, 2011, at the age of 95.[12][13]
In popular culture
Wasserman was portrayed by David Eisner in the CBS film Martin and Lewis (2002), by Stewart Bick in the TV film The Reagans (2003), and by Michael Stuhlbarg in Hitchcock (2012). Wasserman was also the subject of the biography film The Last Mogul (2005).[citation needed]
References
- ^ a b c Kandell, Jonathan (June 4, 2002). "Lew Wasserman, 89, Is Dead; Last of Hollywood's Moguls". The New York Times. p. A1.
- ^ Gray, Tim (March 22, 2016). "Lew Wasserman: Still Remembered as Hollywood's Ultimate Mover and Shaker". Variety.
- ISBN 978-0-253-20493-6.
- ^ "Campaign Contribution Search: Lew Wasserman". Newsmeat. Archived from the original on February 5, 2010. Retrieved February 27, 2022.
- ^ "NEWSMEAT Power Rankings". Archived from the original on December 31, 2009. Retrieved April 29, 2010.
- ISBN 978-0-3755-0168-5.
- ^ "Hall of Fame Honorees". Television Academy. Retrieved February 27, 2022.
- ISBN 978-0-3068-1050-3.
- ^ Davis, David (October 27, 2002). "A Well-Nourished Mogul". Los Angeles Times. Archived from the original on 2017-04-18.
- ^ a b Dagan, Carmel (August 18, 2011). "Edie Wasserman dies at 95". Variety.
- ^ Feinberg, Scott (February 12, 2023). "Santa Barbara Film Fest: Jamie Lee Curtis Cracks That She's "The Only Oscar Nominee Who Sells Yogurt That Makes You Sh**"". The Hollywood Reporter. Retrieved March 12, 2023.
- ^ "Edie Wasserman 1915–2011" (Press release). California Institute of the Arts. August 26, 2011. Archived from the original on 2011-10-17. Retrieved February 27, 2022.
- ^ Berrin, Danielle (October 17, 2011). "'The end of an era': Clintons, Katzenberg, Pelosi pay tribute to Edie Wasserman". The Jewish Journal of Greater Los Angeles.
External links
- Hanson, Steve (2008). "Lew Wasserman". filmreference. Retrieved 2009-01-08.
- "Remarks by the President in Presentation of the Presidential Medal of Freedom" (Press release). The White House. September 29, 1995. Archived from the original on July 20, 2010.
- Lew Wasserman at IMDb
- Lew Wasserman profile at International Who's Who
- Lew Wasserman profile at the Internet Accuracy Project
- Oral History Interview with Lew Wasserman, from the Lyndon Baines Johnson Library
- Booknotes interview with Connie Bruck on When Hollywood Had a King: The Reign of Lew Wasserman, Who Leveraged Talent into Power and Influence, July 20, 2003.
- A 9 minute video produced by Universal City Studios (2013)