The studio system is long dead, but for over 30 years, David Geffen has been proving that the old-time movie mogul is still a going concern. One of the richest men in Hollywood history, Geffen is a true multimedia tycoon who's made money in film and music hand over fist and whose personal worth is estimated at close to $6 billion. Indisputably one of the biggest power players in the industry, he's had a huge impact on almost every studio you can name: Universal, Paramount, Disney, and the DreamWorks studio he founded with Steven Spielberg and Jeffrey Katzenberg. But, having hit 65 -- the age at which most people look forward to a respectable retirement -- is Geffen ready to walk away from it all?
Just weeks after engineering a break from Paramount -- which had recently purchased DreamWorks for over a billion and a half dollars -- Geffen continued to wheel and deal like a mogul of old. He formed a new company with Spielberg and Stacey Snider, backed by money from one of the biggest players in the emergent Bollywood system, and then -- shockingly -- seemed to indicate that he was backing off from production, and perhaps leaving the entertainment industry altogether. According to an article in the New York Times, even Spielberg is stunned at the possibility: "I cannot imagine not having David in my professional life. If that's true, I'm going to have to figure out what to do about it."
Read More...