CBS Theatrical Films
| Company type | Division |
|---|---|
| Industry | Motion picture production |
| Founded | 1979 |
| Defunct | November 1985 |
| Fate | Closed; assets sold to J&M Film Sales |
Key people | Donald March (founder), Michael Levy (group president), William Self (president of production) |
| Parent | CBS |
CBS Theatrical Films, sometimes referred to as CBS Theatrical Films Group, functioned as the motion picture production branch of the American broadcaster CBS from 1979 until its closure in November 1985.
In addition, CBS was a founding member of TriStar Pictures, a collaborative enterprise initiated in 1982 alongside Columbia Pictures (which was then under The Coca-Cola Company) and Time, Inc.'s subsidiary HBO. CBS retained its stake in TriStar until 1985.
History
The inception of CBS's film production activities occurred in 1979 under the leadership of Donald March. On December 2, 1980, CBS Theatrical Films was formally established as a distinct division. By March 1980, it was promoted to the status of CBS Theatrical Films Group, with Michael Levy appointed as group president reporting directly to CBS president Thomas H. Wyman. Prior to 1985, William Self held the position of president of production. Despite these organizational efforts, none of the films released by the division achieved notable box office success.
On December 17, 1984, CBS Theatrical Films combined operations with CBS Worldwide Enterprises to create CBS Productions (not to be confused with a later entity of the same name). The following year, CBS Productions initiated the process of shutting down the film division, completing its closure by November 1985.
Closure
Multiple reasons contributed to the discontinuation of CBS Theatrical Films. Operating as a boutique studio, it frequently ended up with projects that were less commercially viable after major studios had made their selections. Furthermore, made-for-television movies generated better returns on cable and home video platforms compared to theatrical releases. The influx of new boutique studios oversaturated the market, negatively impacting box office performance while costs for production and marketing escalated to approximately $10 million each.
Without an in-house distribution network, CBS Theatrical Films depended on established studios for film releases, which occasionally led to suboptimal release scheduling. In November 1985, CBS declared its intention to close the division. Subsequently, assets belonging to CBS Productions—including international licensing agreements—were sold to J&M Film Sales, an overseas film financing company that acquired four upcoming CBS projects in May 1986. Their films The Challenge and the final production The Lightship were distributed by Embassy Pictures and Castle Hill Productions respectively. Presently, television distribution is managed by CBS Media Ventures; theatrical rights are held by Paramount Pictures; and home entertainment licenses are granted by CBS Home Entertainment to Paramount Home Entertainment and Kino Lorber for selected titles.