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((Short description|Defunct US independent film production company))
((More citations needed|date=January 2016))
((Use American English|date=March 2019))
((Use mdy dates|date = March 2019))
((Infobox company
| name = Carolco Pictures, Inc.
| logo = Carolco-logo-png-transparent.png
| type = [[Private company|Private]]
| traded_as = 
| successors = ((Plain list|
* Company: [[C2 Pictures]]
* Library: 
*: [[StudioCanal]] (with some exceptions)
*: [[Paramount Pictures]] ((small|(through [[Republic Pictures|Melange Pictures]]))) (television, online streaming and digital distribution rights only)
))
| industry = [[Entertainment]]
| defunct = ((start date and age|1995|12|22))
| products = [[Film|Motion pictures]]
| owner = 
| parent = 
| divisions = Carolco Television Productions
| subsid = Orbis Communications<br>[[Daniel Melnick|The IndieProd Company]]
| foundation = ((start date and age|1976|3|30))<ref name="filmlexikon" />
| location = [[Los Angeles, California]]<ref name="filmlexikon" />
| location_city = [[United States]]
| founders = [[Mario Kassar]]<ref name="filmlexikon" /><br>[[Andrew G. Vajna]]<ref name="filmlexikon" />
| key_people = [[Mario Kassar]]<br>((small|(Chairman & [[CEO]])))
| fate = Bankruptcy, assets and name now owned by [[StudioCanal]]
| website = [http://www.carolcofilms.com/ www.carolcofilms.com] 
))

'''Carolco Pictures, Inc.''' was an American [[independent film]] studio that existed from 1976 to 1995, founded by [[Mario Kassar]] and [[Andrew G. Vajna]].<ref name="filmlexikon">((Cite web|title=Carolco Pictures [Das Lexikon der Filmbegriffe]|url=https://filmlexikon.uni-kiel.de/doku.php/c:carolcopictures-1716|url-status=live|access-date=2021-08-12|website=filmlexikon.uni-kiel.de|language=de|archive-url=https://web.archive.org/web/20210812164357/https://filmlexikon.uni-kiel.de/doku.php/c:carolcopictures-1716 |archive-date=August 12, 2021 ))</ref> Kassar and Vajna ran Carolco together until 1989, when Vajna left to form [[Cinergi Pictures]]. Carolco hit its peak in the 1980s and early 1990s, with blockbuster successes including the first three films of the [[Rambo (franchise)|''Rambo'' franchise]], ''[[Total Recall (1990 film)|Total Recall]]'', ''[[Terminator 2: Judgment Day]]'', ''[[Basic Instinct]]'', ''[[Universal Soldier (1992 film)|Universal Soldier]]'', ''[[Cliffhanger (film)|Cliffhanger]]'' and ''[[Stargate (film)|Stargate]]''. Nevertheless, the company was losing money overall and required a [[corporate restructuring]] in 1992. The 1995 film ''[[Cutthroat Island]]'', intended to be a comeback for the studio, instead lost $147 million and brought the company to an end.<ref>((cite web |url=https://www.denofgeek.com/movies/the-rise-and-fall-of-carolco/ |title=The rise and fall of Carolco |last1=Lambie |first1=Ryan |date=11 March 2014 |website=Den of Geek |access-date=11 March 2014))</ref>

== History ==
=== Early years ===
The company was founded through the partnership of two film investors, [[Mario Kassar]] and [[Andrew G. Vajna|Andrew Vajna]].<ref name="filmlexikon" /> The two were hailed by ''[[Newsweek]]'' as some of the most successful independent producers.<ref>Prince, p. 143.</ref> By the age of 25, Vajna went from wig-maker to the owner of two [[Hong Kong]] theaters. Then, Vajna ventured into the production and distribution of feature films. One of Vajna's early productions was a 1973 martial-arts film entitled ''The Deadly China Doll'' which made $3.7 million worldwide from a $100,000 budget.<ref name="Parish">((cite book |last1=Parish |first1=James |title=Fiasco: A History of Hollywood's Iconic Flops |date=2007 |publisher=Trade Paper Press |location=United States |isbn=978-0470098295 |pages=213))</ref>

Their goal was to focus on film sales, with their first venture being ''[[The Sicilian Cross]]''; eventually it went into financing low-budget films.<ref>((cite web |title=The Rise and Fall of Carolco ((!)) Den of Geek |date= March 11, 2014 |url= https://www.denofgeek.com/us/movies/carolco/233689/the-rise-and-fall-of-carolco |access-date= June 25, 2018))</ref> Their earliest films were produced by [[American International Pictures]] and [[ITC Entertainment]] with Carolco's financial support, and co-produced with Canadian theater magnate [[Garth Drabinsky]].<ref>((cite web|url=https://varietyultimate.com/search/?page=20&startYear=1976&endYear=1982&search=Carolco&searchType=&sortBy=DATE&searchDate=&showAll=|title=Variety Magazine (search term: "Carolco")|access-date=January 10, 2015|archive-url=https://web.archive.org/web/20150909023545/http://varietyultimate.com/search/?page=20&startYear=1976&endYear=1982&search=Carolco&searchType=&sortBy=DATE&searchDate=&showAll=|archive-date=September 9, 2015|url-status=dead))</ref> The name "Carolco" was purchased from a defunct company based in Panama, and according to Kassar, "it has no meaning."<ref name="kv">Lambie, Ryan (March 10, 2014). [https://www.denofgeek.com/movies/the-rise-and-fall-of-carolco/ ''The Rise and Fall of Carolco.''] [[Den of Geek!]]</ref>

=== Rise ===
Carolco's first major success was ''[[First Blood]]'' (1982), an adaptation of [[David Morrell]]'s [[First Blood (novel)|novel of the same name]]. Kassar and Vajna took a great risk buying the [[film rights]] to the novel (for $385,000) and used the help of European bank loans to cast [[Sylvester Stallone]] as the lead character, [[Vietnam War]] veteran John Rambo, after having worked with him on the [[John Huston]] film ''[[Escape to Victory]]'' (1981). The risk paid off after ''First Blood'' made $120 million worldwide, and placed Carolco among the major players in Hollywood.<ref name="prince">Prince, p. 144.</ref>

On May 15, 1984, Carolco Pictures entered into a long-term agreement with then-up-and-coming film distributor and fledging studio [[TriStar Pictures|Tri-Star Pictures]], with Tri-Star distributing Carolco's films in North America; [[HBO]] (a partner in the Tri-Star venture) handled pay cable TV rights, and [[Thorn EMI Video]] (later, [[HBO/Cannon Video]]) handled North American home video distribution rights. The first film under the agreement was ''Rambo: First Blood Part II''.<ref>((Cite news|date=1984-05-16|title=Tri-Star To Distribute Next Four Carolco Pics; 'Blood II' First Up|page=4|work=[[Variety (magazine)|Variety]]))</ref> TriStar released the majority of Carolco's films from that point on in the U.S. and some other countries until 1994.

The sequel ''[[Rambo: First Blood Part II]]'' (1985), was timed for the 10th anniversary of the United States' [[Vietnam War#U.S. exit and final campaigns, 1973–1975|exit from the Vietnam War]]; that event garnered publicity for the new film, which also became a hit.<ref name="prince" /> Tri-Star and Carolco would eventually renew their partnership in 1986, which called for Tri-Star to distribute upcoming Carolco product, including ''[[Rambo III]]'', in a new multi-feature agreement.<ref>((Cite news|date=1986-07-02|title=Third 'Rambo' Centerpiece Of Tri-Star-Carolco Deal|page=5|work=[[Variety (magazine)|Variety]]))</ref>

The release of the two ''Rambo'' films were so instrumental to Carolco's financial success that the studio focused more on big-budget action films, with major stars such as Stallone (who later signed a ten-picture deal with the studio) and [[Arnold Schwarzenegger]] attached. These films, aimed at appealing to a worldwide audience, were financed using a strategy known as "pre-sales", in which domestic and foreign distributors invested in these marketable films in exchange for local releasing rights.<ref>Prince, pp. 144-145.</ref>

Carolco entered home video distribution as well. Independent video distributor [[Artisan Entertainment|International Video Entertainment]] (IVE) was going through financial difficulties and was near bankruptcy. In 1986, Carolco purchased IVE in the hopes of "turning the company around." The deal was finalized a year later.<ref>((Cite web|url=http://www.fundinguniverse.com/company-histories/artisan-entertainment-inc-history/|title=History of Artisan Entertainment Inc. – FundingUniverse|website=www.fundinguniverse.com|access-date=2016-09-11))</ref> This resulted in Carolco paying $43 million to [[HBO/Cannon Video]] (successor to Thorn-EMI Video) in exchange for the video rights to two of Carolco's upcoming releases, ''[[Angel Heart]]'' and ''[[Extreme Prejudice (film)|Extreme Prejudice]]'', allowing Carolco to relicense the pictures to IVE.<ref>((Cite news|date=1986-12-17|title=Carolco Regains 'Heart', 'Prejudice' For IVE Label; Melnick Tie Eyed|page=37|work=[[Variety (magazine)|Variety]]))</ref> IVE merged with another distributor,  Lieberman, and became LIVE Entertainment in 1988.<ref>Prince, pp. 145-146.</ref>

Fueled by the success of ''Rambo'' and their other offerings, Carolco expanded into various other business sectors over the next few years. This included video retail holdings, licensing of their IP, an international division (which included deals with [[John Carpenter]] and [[Alive Films]], as well as Canada's [[Alliance Films|Alliance Entertainment Corporation]]), and television production and distribution via the buyout of independent syndicator Orbis Communications.<ref>((Cite news|last=Bierbaum|first=Tom|date=1986-12-24|title=Carolco Moves Into Homevideo Retailing|pages=2, 108|work=[[Variety (magazine)|Variety]]))</ref><ref>((Cite news|date=1987-01-21|title=Carolco Sets Licensing|page=9|work=[[Variety (magazine)|Variety]]))</ref><ref>((Cite news |last=Greenberg |first=James |date=1987-08-05 |title=Newly Formed Carolco Intl. Gets O'seas Rights To Carpenter Pix |page=28 |work=[[Variety (magazine)|Variety]]))</ref><ref>((Cite news |date=1987-10-21 |title=New Pics, New Execs In Carolco Caravan; Pickups On The Agenda |page=18 |work=[[Variety (magazine)|Variety]]))</ref><ref>((Cite news |date=1987-10-07 |title=Carolco Boosts London Operation With Two Execs From Goldcrest |page=4 |work=[[Variety (magazine)|Variety]]))</ref><ref>((Cite news |date=1987-09-23 |title=Carolco Adds $30-Mil Orbis Fuel For Firstrun Syndie, Made-Fors |page=124 |work=[[Variety (magazine)|Variety]]))</ref>

Carolco also attempted to buy troubled film distributor [[Orion Pictures]] and home video distributor [[Media Home Entertainment]], but these deals failed.<ref name="nyc">Kornbluth, Jesse (April 6, 1987). "The Little Studio that Could". ''[[New York Magazine]]''. pp. 48–54.</ref><ref>((Cite news|last=Melanson|first=James|date=1987-04-02|title=Media Home Ent. Reportedly On The Homevid Sales Block; Carolco An Interested Bidder?|pages=43–44|work=[[Variety (magazine)|Variety]]))</ref> They also purchased the former [[De Laurentiis Entertainment Group]] production facility in [[Wilmington, North Carolina]].<ref>((cite magazine|last=Hammer|first=Joshua|title=Total Free Fall|date=8 March 1992|magazine=[[Newsweek]]|url=https://www.newsweek.com/total-free-fall-195938|access-date=24 April 2015))</ref>

Vajna sold his share of Carolco in December 1989 for $106 million to Kassar due to increasing disagreement with Kassar over the direction of the company.<ref name=sale>((cite news|work=[[Variety (magazine)|Variety]]|title=Vajna to receive $106-mil from sale of his Carolco Pictures stake|date=November 29, 1989|page=3|last=Daniels|first=Bill))</ref><ref name="Parish" /> That November, Vajna formed [[Cinergi Pictures]], with [[The Walt Disney Company]] as a distribution partner. Kassar's ownership of the company increased to 62%.<ref name=sale/>

=== 1990–1994 ===
In 1990, [[Pioneer Corporation|Pioneer Electric Corporation]] of Japan acquired a share in Carolco.<ref name=pioneer>((cite magazine|magazine=[[Variety (magazine)|Variety]]|date=April 17, 1995|page=4|title=Pioneer pulls back|last1=Robinson|first1=Gwen|last2=Weiner|first2=Rex))</ref>

Carolco acquired the rights to make a sequel to ''[[The Terminator]]'' from [[Hemdale Film Corporation]] in 1990 (the company already had the television rights to the original film courtesy of a television distribution deal with Hemdale). The company re-hired ''Terminator'' director [[James Cameron]] (who had worked as a screenwriter on ''Rambo II'') and [[Arnold Schwarzenegger]] to star in a multi-million-dollar budgeted sequel, ''[[Terminator 2: Judgment Day]]'' (1991). It was the highest-grossing film of the year and the most successful film in Carolco's history.<ref>((Cite news|url=https://www.nytimes.com/1991/06/26/business/carolco-flexes-its-muscle-overseas.html|title=Carolco Flexes Its Muscle Overseas|last=Stevenson|first=Richard W.|date=1991-06-26|work=The New York Times|access-date=2017-11-03|language=en-US|issn=0362-4331))</ref> 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.<ref>((Cite web|url=https://www.latimes.com/archives/la-xpm-1990-07-19-fi-141-story.html|title=Carolco, New Line in Distribution Agreement: Carolco...|first=L. A. Times|last=Archives|date=July 19, 1990|website=Los Angeles Times|accessdate=December 31, 2022))</ref> In 1991, syndicator Orbis Communications was renamed to Carolco Television, to better emphasize the Carolco connection.<ref>((Cite news|last=Freeman|first=Mike|date=1991-12-09|title=Orbis changes its name to Carolco Television|work=[[Broadcasting & Cable|Broadcasting]]|url=https://worldradiohistory.com/hd2/IDX-Business/Magazines/Archive-BC-IDX/91-OCR/BC-1991-12-09-OCR-Page-0023.pdf|access-date=2021-11-15))</ref> Also around this time, '''Carolco Home Video''' was established, with LIVE Entertainment as output partner.

Carolco struggled for some years to secure the rights to ''[[Spider-Man (2002 film)|Spider-Man]]'', a property that Cameron was keen to produce as a film. Plans fell through, though [[Columbia Pictures]] would eventually produce several Spider-Man films. Toward the end of shooting ''[[True Lies]]'', ''[[Variety (magazine)|Variety]]'' carried the announcement that Carolco had received a completed screenplay from Cameron.<ref name="CameronVariety">((cite magazine | title=Cameron Delivers Spider-Man Script | url=https://www.variety.com/article/VR110100.html?categoryid=13&cs=1&query=cameron+spider%2Dman | page=3 | magazine=[[Variety (magazine)|Variety]] | date=1993-09-01 | access-date=2010-08-10 | first=Christian | last=Moerk | archive-url=https://web.archive.org/web/20090228064746/http://www.variety.com/article/VR110100.html?categoryid=13&cs=1&query=cameron+spider-man | archive-date=February 28, 2009 | url-status=dead ))</ref> This script bore the names of Cameron, John Brancato, Ted Newsom, Barry [sic] Cohen and "Joseph Goldmari", a typographical scrambling of [[Menahem Golan]]'s pen name, "Joseph Goldman", with Marvel executive Joseph Calimari.<ref>((cite web | url=https://www.hundland.com/scripts/Spider-Man.txt  | title=Spider-Man | author=Barry Cohen | author2=Ted Newson | author3=James Cameron | author4=Joseph Goldmari | author5=James Cameron | author6=John Brancato | publisher=Carolco | access-date=2010-08-10 |archive-url = https://web.archive.org/web/20080214112142/http://www.hundland.com/scripts/Spider-Man.txt |archive-date = 2008-02-14))</ref> (Golan had previously, and unsuccessfully, tried to produce a Spider-Man film for his own studio, [[The Cannon Group, Inc.|Cannon Films]].) The script's text was identical to what Golan had submitted to Columbia the previous year, with the addition of a new 1993 date. Cameron stalwart Arnold Schwarzenegger was frequently linked to the project as the director's choice for [[Doctor Octopus]].<ref>((cite web | url=http://www.realmovietrivia.com/page_xmen.html | title=Spider-Man | publisher=Sci-Fi Trivia Reel | access-date=2010-08-10 | archive-url=https://web.archive.org/web/20080119223241/http://www.realmovietrivia.com/page_xmen.html | archive-date=January 19, 2008 | url-status=dead ))</ref><ref>((cite web | url=https://www.cracked.com/article_15072_p2.html | title=10 Most Awesome Movies Hollywood Ever Killed | author=[[David Wong (writer)|David Wong]] | date=August 14, 2007 | publisher=Cracked.com | access-date=2010-08-10))</ref> As late as 1995, Internet industry sources such as Baseline Hollywood still listed both Neil Ruttenberg (author of one of the 1990 "Doc Ock" variations submitted to Columbia) and Cameron as co-writers.<ref>((cite web|url=http://www.blssi.com/overview.aspx |format=Dead link |title=Spider-Man the Movie |publisher=[[Baseline (database)|Baseline]]/[[The New York Times]] |access-date=2010-08-10 |url-status=dead |archive-url=https://web.archive.org/web/20080812045553/http://www.blssi.com/overview.aspx |archive-date=August 12, 2008 ))</ref>

Carolco also attempted to make ''Bartholomew vs. Neff'', a comedy film that was to have been written and directed by [[John Hughes (filmmaker)|John Hughes]] and would have starred [[Sylvester Stallone]] and [[John Candy]].<ref>((cite news|title=SHORT TAKES : Stallone in Line for Comedy Role|date=30 July 1990|newspaper=[[Los Angeles Times]]|url=https://www.latimes.com/archives/la-xpm-1990-07-30-ca-997-story.html|access-date=26 February 2015))</ref>

=== Decline and collapse ===
Though Carolco made several successful films through the 1990s, including ''[[Total Recall (1990 film)|Total Recall]]'', ''[[Terminator 2: Judgment Day]]'', and ''[[Basic Instinct]]'', the studio was gradually losing money as the years went on. Carolco mixed blockbusters with small-budget arthouse films which were not profitable. In addition, the studio was criticized for overspending on films through reliance on star power and far-fetched deals (Schwarzenegger received a then-unheard-of $10–14 million for his work on ''Total Recall'' and ''Terminator 2: Judgment Day''; Stallone also had similar treatment). Losses of partnerships also threatened the studio's stability and drove it towards bankruptcy.<ref>Prince, pp. 147-148.</ref>

In 1992, Carolco went under a corporate restructuring, invested in by a partnership of [[RCS MediaGroup|Rizzoli-Corriere della Sera]] of Italy, [[StudioCanal|Le Studio Canal+]] of France, [[Pioneer Corporation|Pioneer]], and [[Metro-Goldwyn-Mayer]] (MGM). Each partner helped infuse up to $60 million into the studio's stock and another $50 million for co-financing deals.<ref name="Parish" /> MGM also agreed to distribute Carolco products domestically after a previous deal with [[TriStar Pictures|TriStar]] expired.<ref>((cite news|last=Bates|first=James|title=Back in the Limelight: Carolco Pictures to Receive a $120-Million Bailout From Investors|url=https://www.latimes.com/archives/la-xpm-1992-12-25-fi-2557-story.html|newspaper=Los Angeles Times|date=December 25, 1992))</ref> 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 [[Lionsgate|Lions Gate Entertainment]].<ref name="Artisan Entertainment Inc. - Company Profile on Artisan Entertainment Inc.">[http://www.referenceforbusiness.com/history2/20/Artisan-Entertainment-Inc.html History of Artisan Entertainment Inc.], referenceforbusiness.com</ref>

Cutbacks at Carolco also forced the studio to make a deal with TriStar over the funding of the Stallone action film ''[[Cliffhanger (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.<ref name="prince148">Prince, pp. 148.</ref> Although a major box-office success, Carolco saw little revenue from ''Cliffhanger'' since it ended up becoming a minority owner in the film.<ref>((cite news|last=Bates|first=James|title=COMPANY TOWN : SEC Filings Show Carolco Has Little to Sing About : Movies: The company expects to lose money this year and next, despite a major financial reorganization negotiated last year.|url=https://www.latimes.com/archives/la-xpm-1994-08-30-fi-32931-story.html|newspaper=Los Angeles Times|date=August 30, 1994))</ref> Before plans to produce their own ''Spider-Man'' film with James Cameron fell through, the studio filed a lawsuit against Columbia Pictures and [[Viacom (1952–2006)|Viacom]] in an attempt to gain the home video and television rights to ''Spider-Man'', but the suit backfired when Columbia and Viacom counter-sued Carolco, and the studio also became sued by MGM.<ref>[https://www.sec.gov/Archives/edgar/data/801441/0000801441-95-000005.txt Quarterly report] US Securities and Exchanges Commission. March 31, 1995. Retrieved December 31, 2022</ref><ref name=":0">((Cite news |date=August 29, 1998 |title=A Tangled Web of Deal-Making |work=Los Angeles Times |url=https://www.latimes.com/archives/la-xpm-1998-aug-29-mn-17619-story.html |access-date=October 10, 2022))</ref> Since court did not rule in their favor, these lawsuits caused Carolco to lose an additional amount of money, along with the film rights to ''Spider-Man''.<ref name=":0" /> Carolco's attempt to make more of its specialties proved to be more strenuous: the studio had to shelve ''Crusade'', an upcoming Schwarzenegger vehicle based on a script by [[Walon Green]] and with [[Paul Verhoeven]] attached as director, in 1994 when the budget exceeded $100((spaces))million.<ref name="prince148" /> However, Carolco was able to complete a merger with The Vista Organization in late October 1993.<ref>((cite web|url=https://variety.com/1993/biz/news/financial-briefs-149-115505/|title=Financial Briefs|author=<!--Not stated-->|date=1 November 1993))</ref>

Carolco attempted a comeback with the big-budget swashbuckler ''[[Cutthroat Island]]'', with [[Michael Douglas]] in the lead. Douglas dropped out early in its production and was replaced by the less-bankable [[Matthew Modine]]. [[Geena Davis]], cast as the female lead through her ties with then-husband, the director [[Renny Harlin]], was already an established [[A-list]]er but was coming off a string of flops. MGM hoped to advertise ''Cutthroat Island'' based on spectacle rather than cast. In an attempt to raise more financing for the projected $90–100((spaces))million film, Carolco sold off the rights to several films in production, including ''[[Last of the Dogmen]]'', ''[[Stargate (film)|Stargate]]'' and ''[[Showgirls]]''.<ref>Prince, pp. 148-149.</ref><ref>((cite magazine|url=https://variety.com/1997/scene/vpage/recall-in-new-dimension-1117433616/|title='RECALL' IN NEW DIMENSION|date=14 January 1997|magazine=[[Variety (magazine)|Variety]]|access-date=24 July 2019))</ref><ref>((cite news|url=https://www.latimes.com/archives/la-xpm-1995-02-14-fi-31810-story.html|title=Company Town: Carolco May Be Close to Restructuring|date=14 February 1995|newspaper=LA Times|access-date=24 July 2019))</ref><ref>((cite web|url=https://www.upi.com/Archives/1996/01/03/Kassar-signs-deal-with-Paramount/9852820645200/|title=Kassar signs deal with Paramount|date=3 January 1996|work=United Press International|access-date=25 April 2020))</ref><ref>((cite web | title=Carlco Pictures Contract | url=https://www.sec.gov/Archives/edgar/data/801441/0000801441-94-000015.txt | date=November 15, 1994 | access-date=April 25, 2020))</ref> In October 1994, Carolco ran out of funds and Pioneer invested another $8 million.<ref name=pioneer/> In April 1995, Carolco announced that it was unable to make interest payments on $55 million of debt.<ref>((cite magazine|magazine=[[Variety (magazine)|Variety]]|date=April 17, 1995|page=4|title=Will 'Island' cut Carolco's throat?|last=Busch|first=Anita M.))</ref> In November 1995, Carolco filed for [[Chapter 11, Title 11, United States Code|Chapter 11 bankruptcy]] protection. ''Cutthroat Island'' was released that Christmas and became a box-office disaster.<ref>((cite news |last1=Sterngold |first1=James |title=Debacle on the High Seas |url=https://www.nytimes.com/1996/03/31/movies/debacle-on-the-high-seas.html |access-date=25 December 2018 |work=The New York Times |date=31 March 1996))</ref> Carolco agreed to sell its assets to [[20th Century Fox]] for $50 million.<ref>((cite news|title= COMPANY NEWS; CAROLCO PICTURES FILES FOR BANKRUPTCY PROTECTION|work= New York Times|date=1995-11-11|url= https://www.nytimes.com/1995/11/11/business/company-news-carolco-pictures-files-for-bankruptcy-protection.html))</ref> But when Canal+ made a $58 million bid for the library in January 1996, Fox, which by then lowered their purchase price to $47.5 million, dropped their deal.<ref>Bates, James. [https://www.latimes.com/archives/la-xpm-1996-01-17-fi-25405-story.html "New Carolco Library Bid Sends Fox Running."] ''[[Los Angeles Times]]'' (January 17, 1996)</ref>

A new partnership was formed between Carolco's owner (Mario Kassar) and [[Cinergi Pictures|Cinergi]]'s owner (Andrew G. Vajna) in 1998. The duo formed [[C2 Pictures]] and produced ''[[Terminator 3: Rise of the Machines]]'' and ''[[Basic Instinct 2]]'', among other films.

=== 2015–2017: Resurrection of Carolco brand ===
Film producer Alexander Bafer purchased the Carolco name and logo years later. On January 20, 2015, Bafer renamed his production company Carolco Pictures, formerly known as Brick Top Productions. Bafer then recruited Mario Kassar as the chief development executive of the new Carolco.<ref name="den">''[[Accesswire]]'' (January 21, 2015). [https://finance.yahoo.com/news/carolco-pictures-label-returns-first-185900234.html "Carolco Pictures Label Returns for First Time in 20 Years."] ''[[Yahoo!]] Finance''.</ref><ref>((cite web |url=https://www.denofgeek.com/movies/carolco/243077/exclusive-ceo-alex-bafer-tells-us-about-the-return-of-carolco |title=Exclusive: CEO Alex Bafer Tells Us About The Return of Carolco |last1=Lambie |first1=Ryan |date=26 January 2015 |website=Den of Geek |access-date=6 February 2015 |archive-date=April 17, 2016 |archive-url=https://web.archive.org/web/20160417065220/http://www.denofgeek.us/movies/carolco/243077/exclusive-ceo-alex-bafer-tells-us-about-the-return-of-carolco |url-status=dead ))</ref> 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 (1999 film)|Audition]]'' which he was producing. Investor Tarek Kirschen was then inducted as Carolco's CEO.<ref>((cite web|url=https://www.denofgeek.com/movies/carolco/39748/carolco-studio-co-founder-mario-kassar-leaves-company|title=Carolco: studio co-founder Mario Kassar leaves company|last=Lambie|first=Ryan|date=4 April 2016|work=Den of Geek|access-date=6 September 2016|archive-date=March 6, 2019|archive-url=https://web.archive.org/web/20190306174855/https://www.denofgeek.com/movies/carolco/39748/carolco-studio-co-founder-mario-kassar-leaves-company|url-status=dead))</ref> In 2017, [[StudioCanal]] and Carolco reached an agreement whereby StudioCanal would have sole control of the Carolco name and logo and the Carolco Pictures company would be renamed Recall Studios. That agreement settled a legal dispute over the Carolco mark brought by StudioCanal.<ref>((Cite web|url=https://m2compliance.com/hosting/company/CRCO/link_files/2017/08-21-2017/Form10-Q_(08-21-2017)_CarolcoPicturesInc/Form10-Q.html|title=Carolco Pictures Inc. Form 10-Q, August 21, 2017|accessdate=December 31, 2022))</ref><ref>((Cite web|url=https://m2compliance.com/hosting/company/CRCO/link_files/2017/09-28-2017/FormPre14C_(09-28-2017)_CAROLCOPICTURES,INC/FormPre14C.html|title=Carolco Pictures, Inc. Form PRE 14C, September 28, 2017|accessdate=December 31, 2022))</ref> The arrangement took effect on November 29 of that year.

== Carolco's library ==
After its bankruptcy, the assets of Carolco were sold off to other companies, most already sold during Carolco's existence. In March 1996, [[Canal+]] purchased the library in bankruptcy court for a value of approximately $58 million.<ref>((cite news|title=Other News|url=https://www.latimes.com/archives/la-xpm-1996-03-06-fi-43692-story.html|newspaper=Los Angeles Times|date=March 6, 1996))</ref> The ancillary rights to Carolco's library (up to 1995 with certain exceptions) are held by French production company [[StudioCanal]], since its parent company, [[Canal+ Group]], owned a stake in Carolco, eventually buying out its partners.

On September 17, 1991, [[Multimedia Entertainment]] acquired selected assets of Carolco's television distribution unit Orbis Communications, which included the telefilm subsidiary Carolco Television Productions.<ref>"AP News Archive" [https://apnews.com/6f3358592e521a030085f26eca0b018e Multimedia Buys Television Programming Assets] apnewsarchive.com, Retrieved on October 19, 2013</ref>

In 1992, Carolco Pictures licensed television distribution rights to its library to [[Spelling Entertainment]]'s [[Worldvision Enterprises]] in order to pay off debt.<ref>((cite news|last=Lippman|first=John|title=Carolco Pictures Sells Some Film Rights to Raise Cash: Movies: Spelling Entertainment will air the productions on TV. The deal is for $64 million.|url=https://www.latimes.com/archives/la-xpm-1992-02-13-fi-3155-story.html|newspaper=Los Angeles Times|date=February 13, 1992))</ref> In [[North America]], with certain exceptions, those rights are held by [[Paramount Television Studios]] through [[Trifecta Entertainment & Media]] as the successor to Spelling/Worldvision. All other rights in terms of home video were (and for a majority of the library, still are) licensed to [[Lionsgate]] under an ongoing deal with StudioCanal. Lionsgate, in turn, licensed those rights in Canada to [[Entertainment One]] (which in turn was acquired by Lionsgate in 2023), although theatrical rights to most of the library were split between [[Sony Pictures]] (for ''[[Cliffhanger (film)|Cliffhanger]]''), and [[Rialto Pictures]] (for the rest of the library not already retained by its original distributors or passed on to other companies).  The video rights to most titles previously released by Lionsgate in North America are now held outright by StudioCanal, and sublicensed to [[Kino Lorber]].

''[[Showgirls]]'' was sold in pre-production to [[United Artists]] and [[Chargeurs]] (now known as [[Pathé]]); both studios retained the film.

StudioCanal itself held full distribution rights in France, Germany, Australia, Ireland, and the United Kingdom. In other territories, StudioCanal licensed home video rights to [[Universal Pictures Home Entertainment]] until StudioCanal's global distribution deal with Universal expired in January 2022.<ref>((Cite web |url=https://variety.com/2021/film/global/studiocanal-nbcuniversal-distribution-rights-deal-ends-1235087972 |title='Terminator 2,' 'Basic Instinct' to Return to Studiocanal Distribution Portfolio as NBCUniversal Deal Ends – Global Bulletin |work=Variety |date=13 October 2021))</ref>

== Filmography ==
=== 1970s ===
{| class="wikitable sortable"
|-
! Release Date
! Title
! Notes
|-
| align="right"| March 30, 1976 || ''[[The Sicilian Cross]]'' || financing; produced by Aetos Produzioni; distributed by Agora Cinematografica in Italy and [[American International Pictures]] in North America
|-
| align="right"| July 9, 1976 || ''[[A Small Town in Texas]]'' || financing; produced and distributed by [[American International Pictures]]
|-
| align="right"| July 28, 1976 || ''[[Futureworld]]'' || financing; produced and distributed by American International Pictures
|-
| align="right"| October 8, 1976 || ''[[The Cassandra Crossing]]'' || rowspan="2" | financing; produced by [[ITC Entertainment]]; distributed by [[Embassy Pictures|AVCO Embassy Pictures]]
|-
| align="right"| March 23, 1977 || ''[[The Domino Principle]]'' 
|-
| align="right"| March 31, 1977 || ''[[The Eagle Has Landed (film)|The Eagle Has Landed]]'' || rowspan="2" | financing; produced by ITC Entertainment; distributed by [[Columbia Pictures]]
|-
| align="right"| August 5, 1977 || ''[[March or Die (film)|March or Die]]'' 
|-
| align="right"| March 30, 1979 || ''[[The Silent Partner (1978 film)|The Silent Partner]]'' || distributed by EMC
|-
| align="right"| May 11, 1979 || ''[[Winter Kills (film)|Winter Kills]]'' || financing; distributed by AVCO Embassy Pictures
|-
| align="right"| May 30, 1979 || ''The Fantastic Seven'' || financing; produced by [[Martin Poll]]
|-
| align="right"| September 1979 || ''[[The Sensuous Nurse]]'' || financing
|}

=== 1980s ===
{| class="wikitable sortable"
|-
! Release Date
! Title
! Notes
|-
| align="right"| March 28, 1980 || ''[[The Changeling (film)|The Changeling]]'' || distributed by [[ITC Entertainment|Associated Film Distribution]]
|-
| align="right"| August 15, 1980 || ''[[The Kidnapping of the President]]'' || financing; distributed by [[Crown International Pictures]]
|-
| align="right"| September 5, 1980 || ''[[The Agency (film)|The Agency]]'' || financing; distributed by [[Sunn Classic Pictures|Jensen Farley Pictures]]
|-
| align="right"| September 9, 1980 || ''[[Suzanne (1980 film)|Suzanne]]'' || financing; distributed by [[20th Century Fox]]
|-
| align="right"| September 15, 1980 || ''[[Shōgun (1980 miniseries)|Shōgun]]'' || financing; distributed by [[Paramount Pictures]]
|-
| align="right"| December 14, 1980 || ''[[Tribute (1980 film)|Tribute]]'' || financing; distributed by 20th Century Fox
|-
| align="right"| February 1, 1981 || ''[[Caboblanco]]'' || financing; distributed by AVCO Embassy Pictures
|-
| align="right"| March 23, 1981 || ''[[The High Country]]'' || financing; distributed by Crown International Pictures
|-
| align="right"| April 1981 || ''[[The Last Chase]]'' || financing; distributed by Crown International Pictures
|-
| align="right"| July 30, 1981 || ''[[Escape to Victory]]'' || with [[Lorimar Television#Theatrical films|Lorimar]]; distributed by Paramount Pictures
|-
| align="right"| September 25, 1981 || ''[[Carbon Copy (film)|Carbon Copy]]'' || financing; produced by [[Hemdale Film Corporation]] and [[RKO Pictures]], distributed by AVCO Embassy Pictures
|-
| align="right"| December 18, 1981 || ''[[Your Ticket Is No Longer Valid]]'' || financing
|-
| align="right"| February 12, 1982 || ''[[The Amateur (1981 film)|The Amateur]]'' || produced in association with Tiberius Film Productions; distributed by 20th Century Fox
|-
| align="right"| October 22, 1982 || ''[[First Blood]]'' || distributed by [[Orion Pictures]]
|-
| align="right"| January 1985 || ''Superstition'' || with Panaria, distributed by Almi Pictures
|-
| align="right"| May 22, 1985 || ''[[Rambo: First Blood Part II]]'' || first film under distribution pact with [[TriStar Pictures]]
|-
| align="right"| March 6, 1987 || ''[[Angel Heart]]'' || rowspan="2" | distributed by TriStar Pictures
|-
| align="right"| April 24, 1987 || ''[[Extreme Prejudice (film)|Extreme Prejudice]]'' 
|-
| align="right"| October 23, 1987 || ''[[Prince of Darkness (film)|Prince of Darkness]]'' || international distribution only; with Alive Films, Larry Franco Productions and Haunted Machine Productions; distributed by [[Universal Pictures]] in the U.S.
|-
| align="right"| March 18, 1988 || ''[[Pound Puppies and the Legend of Big Paw]]'' || with The Maltese Companies; distributed by TriStar Pictures
|-
| align="right"| May 25, 1988 || ''[[Rambo III]]''<ref>((cite news|title= Carolco Seeks Life Beyond 'Rambo' Films|newspaper= [[Los Angeles Times]]|date=May 31, 1987|url= https://www.latimes.com/archives/la-xpm-1987-05-31-fi-9501-story.html|access-date=2012-06-02|first=Al|last=Delugach))</ref> || rowspan="2" | distributed by TriStar Pictures
|-
| align="right"| June 17, 1988 || ''[[Red Heat (1988 film)|Red Heat]]'' 
|-
| align="right"| November 4, 1988 || ''[[They Live]]'' || international distribution only; with Alive Films and Larry Franco Productions; distributed by Universal Pictures in the U.S.
|-
| align="right"| November 11, 1988 || ''[[Iron Eagle II]]'' || distributed by TriStar Pictures
|-
| align="right"| December 2, 1988 || ''[[Watchers (film)|Watchers]]'' || with Concorde Pictures, Centaur Films, Rose & Ruby Productions and Canadian Entertainment Investors No. 2 and Company; distributed by Universal Pictures
|-
| align="right"| January 13, 1989 || ''[[DeepStar Six]]'' || distributed by TriStar Pictures
|-
| align="right"| April 7, 1989 || ''[[Pathfinder (1987 film)|Pathfinder]]'' || subtitled version of a film made in Norway
|-
| align="right"| May 19, 1989 || ''[[Food of the Gods II]]'' || distributed by Concorde Pictures
|-
| align="right"| August 4, 1989 || ''[[Lock Up (1989 film)|Lock Up]]'' || rowspan="2" | distributed by TriStar Pictures
|-
| align="right"| September 29, 1989 || ''[[Johnny Handsome]]'' 
|-
| align="right"| October 27, 1989 || ''[[Shocker (film)|Shocker]]'' || international distribution only; with Alive Films and Universal City studios; distributed by Universal Pictures in the U.S.
|-
| align="right"| December 22, 1989 || ''[[Music Box (film)|Music Box]]'' || distributed by TriStar Pictures
|}

=== 1990s ===
{| class="wikitable sortable"
|-
! Release Date
! Title
! Notes
|-
| align="right"| February 23, 1990 || ''[[Mountains of the Moon (film)|Mountains of the Moon]]'' || rowspan="5" | distributed by TriStar Pictures 
|-
| align="right"| June 1, 1990 || ''[[Total Recall (1990 film)|Total Recall]]'' 
|-
| align="right"| August 10, 1990 || ''[[Air America (film)|Air America]]'' 
|-
| align="right"| September 21, 1990 || ''[[Narrow Margin]]'' 
|-
| align="right"| November 2, 1990 || ''[[Jacob's Ladder (1990 film)|Jacob's Ladder]]'' 
|-
| align="right"| December 19, 1990 || ''[[Hamlet (1990 film)|Hamlet]]'' || Foreign distribution with [[Warner Bros.]], [[Icon Productions]], and [[Barry Spikings|Nelson Entertainment]]
|-
| align="right"| February 8, 1991 || ''[[L.A. Story]]'' || distributed by TriStar Pictures 
|-
| align="right"| March 1, 1991 || ''[[The Doors (film)|The Doors]]'' || with [[Bill Graham (promoter)|Bill Graham Films]] and [[Imagine Entertainment]]; distributed by TriStar Pictures
|-
| align="right"| April 25, 1991 || ''[[The Punisher (1989 film)|The Punisher]]'' || home media and television distribution<ref>((cite news |title=Broadcasting Magazine, 17 June 1991: Syndication Marketplace |url=https://worldradiohistory.com/Archive-BC/BC-1991/BC-1991-06-17.pdf |access-date=6 July 2020 |date=17 June 1991))</ref> in North America only, distributed by [[New World Pictures]] and [[20th Century Fox]] internationally
|-
| align="right"| July 3, 1991 || ''[[Terminator 2: Judgment Day]]'' || with [[Lightstorm Entertainment]] and [[StudioCanal|Le Studio Canal+]]; distributed by TriStar Pictures 
|-
| align="right"| March 20, 1992 || ''[[Basic Instinct]]'' || with Le Studio Canal+; distributed by TriStar Pictures 
|-
| align="right"| June 26, 1992 || ''[[Incident at Oglala]]'' || distributed by [[Miramax]] Films
|-
| align="right"| July 10, 1992 || ''[[Universal Soldier (1992 film)|Universal Soldier]]''<ref>((cite news|title= Carolco Pictures Pins Hopes for Rescue on Its 'Universal Soldier' |work= [[Los Angeles Times]]|date=1992-07-10|url= https://www.latimes.com/archives/la-xpm-1992-07-10-fi-1889-story.html|access-date=2010-11-27|first1=David|last1=Willman|first2=Alan|last2=Citron))</ref> ||with [[Centropolis Entertainment]]; distributed by TriStar Pictures
|-
| align="right"| December 25, 1992 || ''[[Chaplin (film)|Chaplin]]'' || rowspan="2" | with Le Studio Canal+; distributed by TriStar Pictures 
|-
| align="right"| May 28, 1993 || ''[[Cliffhanger (film)|Cliffhanger]]'' 
|-
| align="right"| August 26, 1994 || ''[[Wagons East]]'' || last Carolco film to be distributed by TriStar Pictures.
|-
| align="right"| October 28, 1994 || ''[[Stargate (film)|Stargate]]'' || with Le Studio Canal+, distributed by [[Metro-Goldwyn-Mayer]]
|-
| align="right"| September 8, 1995 || ''[[Last of the Dogmen]]'' || with [[Savoy Pictures]]
|-
| align="right"| September 22, 1995 || ''[[Showgirls]]'' || with [[United Artists]] and [[Chargeurs]]<ref>((cite news|title= Carolco Aims to Sell 'Showgirls' in Bid for Cash |work= [[Los Angeles Times]]|date=1994-10-04|url= https://www.latimes.com/archives/la-xpm-1994-10-04-fi-46339-story.html|access-date=2010-11-27|first=James|last=Bates))</ref>
|-
| align="right"| December 22, 1995 || ''[[Cutthroat Island]]'' || distributed by Metro-Goldwyn-Mayer, last film to be released by Carolco
|}

=== Seven Arts Pictures ===
{| class="wikitable sortable"
|-
! Release Date
! Title
! Notes
|-
| align="right"| September 14, 1990 || ''[[Repossessed (film)|Repossessed]]'' || distributed by [[New Line Cinema|New Line]]/Seven Arts
|-
| align="right"| September 28, 1990 || ''[[King of New York]]'' || distributed by New Line/Seven Arts
|-
| align="right"| February 1, 1991 || ''[[Queens Logic]]'' || distributed by New Line/Seven Arts; with [[Taylor Hackford|New Visions Pictures]]
|-
| align="right"| May 10, 1991 || ''[[Sweet Talker (film)|Sweet Talker]]'' || distributed by New Line/Seven Arts; with New Visions Pictures
|-
| align="right"| May 17, 1991 || ''[[Dice Rules (1991 film)|Dice Rules]]'' || distributed by New Line/Seven Arts
|-
| align="right"| August 23, 1991 || ''[[Defenseless]]'' || distributed by New Line/Seven Arts; with New Visions Pictures
|-
| align="right"| September 20, 1991 || ''[[Rambling Rose (film)|Rambling Rose]]'' || distributed by New Line/Seven Arts
|-
| align="right"| October 25, 1991 || ''[[Get Back (film)|Get Back]]'' || distributed by New Line/Seven Arts; with Majestic Films and [[Allied Filmmakers]]
|-
| align="right"| November 1991 || ''[[The Dark Wind (1991 film)|The Dark Wind]]'' || distributed by New Line/Seven Arts; with Le Studio Canal+
|-
| align="right"| June 21, 1992 || ''[[Aces: Iron Eagle III]]'' || distributed by New Line/Seven Arts
|-
| align="right"| August 21, 1992 || ''[[Light Sleeper]]'' || distributed by New Line division [[Fine Line Features]]; last picture to be made under the Seven Arts banner
|}

== References ==
((reflist))

=== Further reading ===
* Prince, Stephen (2000) ''A New Pot of Gold: Hollywood Under the Electronic Rainbow, 1980–1989''. [[University of California Press]], [[Berkeley, California|Berkeley]]/[[Los Angeles, California]]. ((ISBN|0-520-23266-6))

((Portal|1980s|1990s))
((Authority control))

[[Category:Carolco Pictures| ]]
[[Category:StudioCanal]]
[[Category:Entertainment companies established in 1976]]
[[Category:Mass media companies established in 1976]]
[[Category:Mass media companies disestablished in 1995]]
[[Category:Defunct American film studios]]
[[Category:Film production companies of the United States]]
[[Category:Entertainment companies based in California]]
[[Category:Manhattan Beach, California]]
[[Category:1976 establishments in California]]
[[Category:1995 disestablishments in California]]
[[Category:Companies that filed for Chapter 11 bankruptcy in 1995]]
[[Category:Defunct companies based in Greater Los Angeles]]
[[Category:Companies formerly listed on the Nasdaq]]
[[Category:American independent film studios]]
[[Category:International sales agents]]

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Module:Message box (view source) (protected)
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Module:Message box/configuration (view source) (protected)
Module:Namespace detect/config (view source) (protected)
Module:Namespace detect/data (view source) (protected)
Module:Navbar (view source) (protected)
Module:Navbar/configuration (view source) (protected)
Module:Navbox (view source) (template editor protected)
Module:Navbox/configuration (view source) (template editor protected)
Module:Navbox/styles.css (view source) (template editor protected)
Module:Ns has subpages (view source) (protected)
Module:Pagetype (view source) (protected)
Module:Pagetype/config (view source) (protected)
Module:Pagetype/disambiguation (view source) (protected)
Module:Pagetype/setindex (view source) (protected)
Module:Pagetype/softredirect (view source) (protected)
Module:Portal (view source) (template editor protected)
Module:Portal/images/other (view source) (template editor protected)
Module:Portal/styles.css (view source) (template editor protected)
Module:SDcat (view source) (protected)
Module:Separated entries (view source) (protected)
Module:String (view source) (protected)
Module:TableTools (view source) (protected)
Module:Time ago (view source) (template editor protected)
Module:Unsubst (view source) (protected)
Module:WikidataIB (view source) (template editor protected)
Module:WikidataIB/nolinks (view source) (template editor protected)
Module:WikidataIB/titleformats (view source) (template editor protected)
Module:Wikitext Parsing (view source) (protected)
Module:Yesno (view source) (protected)

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