Sony pictures greener world mrc sony be movie columbia pictures warner bros tristar pictures tm1/2/2024 The hiring of Guber and Peters by Sony to run Columbia was conflicted by a previous contract the producers had signed at Warner Bros. This was all led by Norio Ohga, who was the president and CEO of Sony during that time. (NASDAQ: GPEC formerly Barris Industries, Inc.) to acquire CPE for $200 million when Sony hired Peter Guber and Jon Peters to be its co-chairmen. The next day, Sony also announced that it reached an agreement with Guber-Peters Entertainment Company, Inc. On September 28, 1989, Sony obtained an option to purchase all of The Coca-Cola Company's stock (approximately 54 million shares or 49% of the outstanding shares) in CPE for $27 per share. A new company was formed in early 1988 with the Tri-Star name to take over the studio's operations. (CPE), with Coca-Cola owning 49%, its shareholders owning 31%, and Tri-Star's shareholders owning 20%. Tri-Star would be renamed to Columbia Pictures Entertainment, Inc. Under this arrangement, Coca-Cola would sell its entertainment assets to TriStar Pictures, of which it owned 39.6%. On September 1, 1987, The Coca-Cola Company announced plans to spin off its assets of Columbia Pictures, which it had owned since 1982.
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