Around that time, Tri-Star has shut down its video division, absorbing it into RCA/Columbia Pictures Home Video. as a reformed company of the Tri-Star studio. On April 13, 1988, CPE spun off Tri-Star Pictures, Inc. Both studios continued to produce and distribute films under their separate names. when Coke sold its entertainment business to Tri-Star for $3.1 billion.
was renamed as Columbia Pictures Entertainment, Inc. On December 21, 1987, Tri-Star Pictures, Inc. Columbia Pictures Entertainment era (1987–1989) In 1987, they had proposed a home video label Tri-Star Video, to release Tri-Star material, with Saul Melnick serving as president of the unit. Cannell Productions and Witt/ Thomas/ Harris Productions and created a television distribution company called TeleVentures. It was formed when the studio joined forces with Stephen J. The same year, Tri-Star entered into the television business as Tri-Star Television. In 1986, HBO also dropped out of the venture and sold half of its shares to Columbia Pictures. ĬBS dropped out of the venture in 1985, though they still distributed some of Tri-Star's films on home video until at least 1992. In addition, HBO would own exclusive cable distribution rights to these films, and broadcast television licenses would go to CBS. During this venture, many of Tri-Star's releases were released on VHS by either RCA/Columbia Pictures Home Video, CBS/Fox Video, and HBO/Cannon Video. Their first release, however, was the film, Where the Boys Are '84 a 1984 remake of the 1960 Metro-Goldwyn-Mayer picture, Where the Boys Are that was co-distributed on behalf of ITC Entertainment after Universal rejected it the film was a commercial flop. The studio's first produced film on was The Natural starring Robert Redford. It was the first new major Hollywood studio to be established since RKO Pictures was founded in 1928.
On May 16, 1983, it was given the name Tri-Star Pictures (when the new company was formed and did not have an official name, the press used the code-name "Nova", but the name could not be obtained as it was being used as the title for the PBS science series ). The concept for TriStar Pictures was the brainchild of Victor Kaufman, a senior executive of Columbia Pictures (then a subsidiary of the Coca-Cola Company), who convinced the studio, HBO, and CBS to share resources and split the ever-growing costs of making movies, creating a new joint venture on March 2, 1982. 1.2 Columbia Pictures Entertainment era (1987–1989).