Since Madchen Amick was still filming Leaving Las Vegas, she didn't stay long in Los Angeles and quickly returned to the set in Las Vegas.
Meanwhile, in February 1995, after more than a year of investigation, Michael Jackson was declared not guilty by the Santa Barbara County Court.
The allegations by the Chandler family against Michael Jackson were deemed slander.
"Looks like Michael Jackson's fate has changed now?" Arthur Smith remarked to himself as he watched the news on TV from his luxurious Beverly Hills mansion.
However, this incident still took a toll on Michael Jackson, increasing his dependence on medication.
MGM's disaster film Twister completed its initial preparations. Director Jan de Bont hoped to shoot as much as possible outside of the studio.
Hence, the filming location for Twister was changed from California and the UK to Oklahoma!
"90 million dollars for the budget," Arthur chuckled and approved the shooting plan. Twister became the largest project for Galaxy so far.
Amy Pascal was shocked, "I never imagined that I'd get to work on a movie of this magnitude."
She continued, "But MGM is not Carolco. We won't allow anything like Cutthroat Island to happen."
Carolco gambled its fate on Cutthroat Island, spending 98 million dollars, only to be riddled with scandals from start to finish. Director Renny Harlin and actress Geena Davis, a couple in real life, were utterly reckless and chaotic during the filming.
"Carolco?" Arthur laughed, "These foreign-funded companies only mess around with sci-fi and action films. Early investments in Sylvester Stallone's First Blood blazed a trail, and then came Arnold Schwarzenegger, Michael Douglas, and others with record-breaking paychecks. Carolco never had any drama films. Good storytelling never reaches their hands!"
This is called heritage. It requires not only the eyes to discover good scripts but also the courage to invest in dramas. Sci-fi and action films are the easiest for movie companies - they just need money to invite big directors and stars.
A company that can't produce excellent dramas and quality art films will never be recognized by Hollywood. After its animation renaissance, Disney acquired Miramax, an art film label, to gain Hollywood's recognition, proving it's not just about children's movies and animations.
Amy Pascal admired Arthur because with him, Galaxy became the most popular movie company for new directors. Over the years, Arthur discovered countless new directors. After succeeding at Galaxy, these directors all held the company in high regard. That's heritage!
"Roland Emmerich's Stargate was quite a success, especially overseas where it surpassed one hundred million in box office," Amy Pascal continued. "His new script, Independence Day, has an epic setting. Although the 70 million dollar budget isn't as much as Twister, should we delay its development by a year?"
Arthur shook his head, "No need. Galaxy's cash flow is ample; we can handle both projects simultaneously."
No doubt, Galaxy had several box office hits in recent years. Overseas distribution pre-sales alone covered most of the production budgets. The real in-house funds are mostly used during the preparation and promotion phases.
"If Roland Emmerich completes the preparations for Independence Day, it can go straight into production."
"Understood!"
...
As VCD market developed rapidly, a battle for the DVD format standard began in the US. Philips and Sony proposed the MMCD standard, whereas Toshiba, Warner Bros., and others proposed the SD standard.
Both MMCD and SD standards belonged to the DVD format, but neither satisfied Hollywood. Soon, MGM, Paramount, and the other major Hollywood firms formed the "HDVA Group" to pressure manufacturers into unifying the standard and developing DVDs that met their requirements.
Compared to VCDs, DVDs had higher storage density, shorter laser wavelength, better image and sound quality, and longer playback time.
Arthur visited Panasonic President Yoichi Morishita in Universal City, Hollywood. Akio Tanii, the former president, had stepped down two years earlier. Arthur wanted to understand the details about the DVD format standards battle. It ultimately boiled down to patent profits for future DVD players.
"MCA Universal must be quite a burden for Panasonic, right?" Arthur laughed while discussing other matters.
Universal's recently wrapped post-apocalypse sci-fi film, Waterworld, with a 175 million dollar budget, set a new record, making it the most expensive movie ever. Similar to Sony's acquisition of Columbia, owning MCA Universal brought Panasonic heavy debts. If Waterworld, set to release this summer, fell short of expectations, it could be a major problem!
Yoichi Morishita shook his head, "Although Panasonic's main business is electrical appliances, combining electronics with content is part of our strategy."
Arthur replied, "I see! It seems Panasonic doesn't mind such losses. But now, with Steven Spielberg, Universal's top partner, starting his own company, DreamWorks, Universal's future looks even tougher!"
Yoichi Morishita forced a smile, "Mr. Smith is Hollywood's golden boy and an American icon. His understanding of entertainment is unparalleled. For Panasonic and Sony, as foreign companies, facing setbacks in the US market is normal. Is Mr. Smith interested in MCA Universal as well?"
"Galaxy just acquired MGM; there's no chance of another purchase move so soon." Currently, Arthur's focus was on TV operations.
After leaving Universal City, Arthur instructed his assistant Anna, "Keep an eye on Universal's upcoming big releases. Panasonic's financial strength is not as robust as Sony's!"
"Boss, do you mean Panasonic might sell MCA Universal?"
"Precisely, plus Panasonic primarily deals in electrical products, and electronics aren't their core business. Owning a Hollywood studio is just icing on the cake for them."
*****
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