21st Century Film Corporation

21st Century Film Corporation was an American film production and distribution company formed around 1976 by Tom Ward and Art Schweitzer. Some historical accounts place its formation earlier, but the commonly cited date is approximately 1976. The business operated primarily in theatrical film distribution while also participating in production and home-video release activities. The company expanded its library in the early 1980s by acquiring most of the catalog of Dimension Pictures after that distributor entered bankruptcy. It also experimented with home entertainment distribution. From 1982 to 1983, it used the short-lived Planet Video label, and from 1985 it worked through a more commercially substantial arrangement with Continental Video. These activities gave the company a presence beyond theatrical releases, although it remained much smaller than the major Hollywood studios. During the late 1980s, 21st Century became connected to the corporate and financing network surrounding Giancarlo Parretti, The Cannon Group and Pathé Communications. Menahem Golan, an Israeli filmmaker and former Cannon executive, became chief executive officer in 1989 and remained in that role until the company's bankruptcy. Under Golan, the company pursued ambitious projects and controlled or participated in rights arrangements involving properties such as Spider-Man and Captain America. The strategy sought to position 21st Century as an independent producer and distributor capable of bringing commercially attractive films to American and international audiences. The company's actual releases were generally produced or handled on a comparatively modest scale. Its better-known titles from this period included Bullseye!, a remake of The Phantom of the Opera, a remake of Night of the Living Dead, Captain America, Deadly Heroes and Death Wish V: The Face of Death. The latter was the final theatrical film in the Death Wish series and the last theatrical feature starring Charles Bronson. Financing difficulties and disputes over Spider-Man rights contributed to a series of legal actions in 1993. The company filed for bankruptcy within that period and ceased operating as an active film business. Subsequent litigation determined that the Spider-Man rights had reverted to Marvel. The company's film library and other assets passed through the ownership structures associated with Crédit Lyonnais, the Epic film library, PolyGram Filmed Entertainment and, ultimately, Metro-Goldwyn-Mayer and Orion Pictures for much of the catalog. Night of the Living Dead was treated separately because of its distribution history through Columbia Pictures. Later television and streaming rights have been handled through successor rights holders and distributors rather than by 21st Century itself.

21st Century Film Corporation was established as an independent American film company around 1976 by Tom Ward and Art Schweitzer. A minority of historical accounts gives an earlier formation date, but the company's commonly cited origin is in the mid-1970s. It combined production activity with theatrical distribution, operating outside the dominant major-studio system. A significant early expansion came in 1981, when the company acquired most of the catalog of Dimension Pictures after Dimension's bankruptcy. This gave 21st Century a larger body of films to distribute and exploit. The company also pursued home-video activity. Its Planet Video label operated briefly from 1982 to 1983, after which the company entered a more substantial arrangement with Continental Video beginning in 1985. In the late 1980s, the company became connected with Giancarlo Parretti's corporate interests. Parretti had acquired The Cannon Group and renamed it Pathé Communications. Menahem Golan, who had been associated with Cannon, became chief executive of 21st Century in 1989. The company received or pursued film projects and rights connected with Golan's independent-production plans, including major comic-book properties such as Spider-Man and Captain America. In April 1989, 21st Century and Pathé ended a production contract; the termination transferred rights relating to certain completed, in-production and proposed projects while ending Pathé's future financial obligations to the company. In May of the same year, 21st Century entered a 20-film production and distribution agreement with Hoyts Corporation. Despite its ambitions, the company's output remained comparatively small in scale. It released films such as Bullseye!, The Phantom of the Opera, Night of the Living Dead, Captain America, Deadly Heroes and Death Wish V: The Face of Death. These releases reflected an emphasis on genre, action and commercially recognizable properties rather than the broad slate of a major studio. Captain America received only limited theatrical exposure in international markets. The proposed Spider-Man film became particularly difficult to finance. Rights were divided among several parties, including television rights sold to Viacom, home-video rights associated with Columbia and theatrical rights connected with Carolco. In 1993, disputes over the project led to litigation, while the company faced broader financial problems. Bankruptcy followed within the year. In 1995, a court ruled that the Spider-Man film rights had expired and reverted to Marvel. After the bankruptcy, the company's library and assets moved through successor ownership structures. Crédit Lyonnais incorporated much of the material into its Epic film library. PolyGram Filmed Entertainment later acquired that library, and MGM acquired the pre-1996 PolyGram library in 1998, with the material associated in part with Orion Pictures. Night of the Living Dead followed a separate distribution path involving Columbia Pictures. Consequently, 21st Century Film Corporation no longer operates as an independent business, and its historical catalog is controlled or administered by later rights holders and distributors.

• 1998

  MGM acquires the pre-1996 PolyGram library

  [1]21st Century Film Corporationen.wikipedia.org

  MGM acquired the pre-1996 PolyGram library, bringing much of the former 21st Century catalog into an MGM- and Orion-related rights structure.

• 1995

  Spider-Man rights revert to Marvel

  [1]21st Century Film Corporationen.wikipedia.org

  A court ruled that the relevant film rights had expired and reverted to Marvel.

• 1993

  Bankruptcy follows rights disputes

  [1]21st Century Film Corporationen.wikipedia.org

  Spider-Man financing and rights disputes coincided with the company's bankruptcy and the end of its independent operations.

• 1989

  Menahem Golan becomes CEO

  [1]21st Century Film Corporationen.wikipedia.org

  Menahem Golan became chief executive and pursued a larger independent-production and distribution strategy.

• 1989

  Hoyts agreement signed

  [1]21st Century Film Corporationen.wikipedia.org

  21st Century signed an agreement with Hoyts Corporation covering 20 film productions and distributions.

• 1985

  Continental Video arrangement begins

  [1]21st Century Film Corporationen.wikipedia.org

  The company shifted to a more commercially significant home-video distribution arrangement with Continental Video.

• 1982

  Planet Video launched

  [1]21st Century Film Corporationen.wikipedia.org

  The company began a short-lived home-video initiative under the Planet Video label.

• 1981

  Dimension Pictures catalog acquired

  [1]21st Century Film Corporationen.wikipedia.org

  21st Century acquired most of Dimension Pictures' catalog after Dimension entered bankruptcy.

• 1976

  Company formed

  [1]21st Century Film Corporationen.wikipedia.org

  Tom Ward and Art Schweitzer formed the company as a film production and distribution business. Some sources cite an earlier date, but approximately 1976 is the commonly reported year.

Independent film production and distribution, with an emphasis on commercially marketable genre and action films and related theatrical and home-video rights.

• Film production and distribution

  Feature films

  Feature films were the company's central business. 21st Century participated in production and handled theatrical distribution for a range of independent and genre-oriented titles. Its releases included original productions, remakes and films associated with established commercial properties. The company did not maintain the broad, continuously active slate associated with a major studio, and many projects were released on a limited or regional basis.

• Home entertainment · 1982

  Home-video releases

  The company extended its distribution activities into home video. It briefly used the Planet Video label between 1982 and 1983 and later worked with Continental Video from 1985. These arrangements allowed the company to monetize films beyond theatrical exhibition, although the home-video business was conducted through labels and partners rather than as a single enduring consumer brand.

• Superhero film

  Captain America

  Captain America was one of the comic-book properties connected to the company's late-1980s production and rights strategy. The film was produced and released with 21st Century involvement but received only limited theatrical exposure worldwide. Its complicated rights and financing history became part of the broader pattern of difficulties surrounding the company's independent-production ambitions.

• Action film · 1993

  Death Wish V: The Face of Death

  Death Wish V: The Face of Death was a 21st Century release and the final installment of the Death Wish series. It was also Charles Bronson's final theatrical film. The title represented one of the company's attempts to use a recognizable franchise in its commercial distribution slate during the period immediately before the company's bankruptcy.

• Horror film

  The Phantom of the Opera

  The Phantom of the Opera was a remake handled within the company's late-1980s and early-1990s production and distribution activities. It formed part of a slate that combined recognizable literary or cinematic properties with relatively independent production economics. The company is associated with the film as a distributor and production participant.

• Horror film

  Night of the Living Dead

  Night of the Living Dead was among the company's horror-related releases. Its rights and distribution history were distinct from much of the company's later library, and Columbia Pictures was associated with its distribution. The title is therefore an important exception to the later MGM- and Orion-related ownership path followed by much of the catalog.

• 1993

  Divide Spider-Man exploitation rights among partnersOther

  Background

  Financing a Spider-Man film proved difficult, requiring the company to structure rights arrangements with multiple media and distribution companies.

  Action taken

  Television rights were sold to Viacom, home-video rights were associated with Columbia, and theatrical rights were connected with Carolco.

  Aftermath

  The arrangement triggered disputes and litigation, and a later court ruling found that the relevant film rights had reverted to Marvel.

  Source

• 1993

  File for bankruptcyOther

  Background

  The company faced financing difficulties and litigation during the Spider-Man rights dispute.

  Action taken

  21st Century entered bankruptcy and ceased functioning as an independent film company.

  Aftermath

  Its library and assets moved through Crédit Lyonnais, PolyGram and MGM-related ownership structures.

  Source

• 1989

  Pursue an expanded independent-production strategyStrategy

  Background

  Under Menahem Golan, the company sought to release commercially attractive films to American and international audiences and to exploit recognizable properties.

  Action taken

  The company pursued projects involving properties such as Spider-Man and Captain America and signed a 20-film production and distribution agreement with Hoyts.

  Aftermath

  The strategy produced limited-scale successes but encountered serious financing and rights problems, especially around Spider-Man.

  Source

• 1982

  Enter home-video distributionStrategy

  Background

  The growth of home video offered independent film distributors an additional way to exploit theatrical and library titles.

  Action taken

  The company launched the Planet Video label and later replaced it with a Continental Video arrangement beginning in 1985.

  Aftermath

  The short-lived label was followed by a more commercially substantial partner-based home-video strategy.

  Source

• 1981

  Acquire the Dimension Pictures catalogM&A

  Background

  Dimension Pictures entered bankruptcy, creating an opportunity for 21st Century to expand its film library and distribution assets.

  Action taken

  21st Century acquired most of Dimension Pictures' catalog.

  Aftermath

  The transaction increased the company's library holdings and influenced the later chain of catalog ownership after 21st Century's bankruptcy.

  Source

1. 121st Century Film Corporationen.wikipedia.org