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Lew Wasserman | |
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 Wasserman in 1969 | |
| Born | Lewis Robert Wasserman (1913-03-22)March 22, 1913 Cleveland, Ohio, U.S. |
| Died | June 3, 2002(2002-06-03) (aged 89) |
| Resting place | Hillside Memorial Park,Culver City, California |
| Occupation(s) | Hollywood studio head; talent agent |
| Spouse | |
| Children | 1 |
Lewis Robert Wasserman (March 22, 1913 – June 3, 2002) was an American businessman andtalent agent, described as "the last of the legendary movie moguls" and "arguably the most powerful and influential Hollywood titan in the four decades after World War II".[1] His career spanned nearly eight decades from the 1920s to the 2000s; he started working as a cinema usher before dropping out of high school, rose to become the president ofMCA Inc. and led its takeover ofUniversal Pictures, during which time Wasserman "brought about changes in virtually every aspect of show business".[2] In 1995, he was awarded thePresidential Medal of Freedom by PresidentBill Clinton. Several years later, he spoke of his ongoing work at Universal toVariety, saying, "I am under contract here for the rest of my life, and I don't think they would throw me out of my office—my name is on the building."[1]
Wasserman was born to aJewish family[3] inCleveland, Ohio, the son of Isaac Wasserman and Minnie Chernick, both emigrants from Russia. He began his show business career as an usher in a Cleveland theater in 1933. He later became a booking agent for theMusic Corporation of America (MCA), founded byJules Stein.[citation needed]
Under Wasserman, MCA branched out into representing actors and actresses in addition to musicians and in the process created thestar system, which drove up prices for studios. MCA struggled to gain ground in Hollywood since major agencies like those belonging toCharles Feldman,Myron Selznick, andLeland Hayward had already grabbed up most of the major talent.[citation needed] However, in the mid-1940s, when it purchased Hayward's agency, MCA finally gained bargaining leverage with the studios. As an agency, Wasserman's MCA came to dominate Hollywood, representing such stars asBette Davis andRonald Reagan.[citation needed]
Wasserman was an influential player and fundraiser in theDemocratic Party, but was also a lifelong and instrumental advocate, mentor, and close friend of Reagan's.[4] The Newsmeat Power Rankings identify Wasserman and his close friendJack Valenti as two of the top five "most famous and powerful Americans whose campaign contributions result most often in victory."[5]
At MCA, Wasserman expanded upon a business practice known asfilm packaging, a process established by earlier agents like Feldman and Selznick. Since studios reduced output after World War II, they let more actors out of long-term contracts, and big agencies like MCA could then negotiate stronger terms for their clients. Agents like Wasserman would pitch packages, for example a writer client, director client, and actor or actress, to the studios who then needed only to finance it. Therefore, in some respects, agencies began to do the job previously done by the studios – namely, assembling films.[citation needed]
Wasserman expanded on practices established by earlier agents. For example, Feldman and Selznick realized in the late 1930s that an actor could pay much less tax by turning himself into a corporation. The corporation, which would employ the actor, would own part of a motion picture in which the actor appeared, and all monies would accrue to the corporation, which was taxed at a much lower rate than was personal income.[citation needed]
Wasserman used this tax avoidance scheme with actorJames Stewart, beginning with theAnthony Mann westernWinchester '73 (1950). This marked the first time an onscreen talent ever received "points in the film"[clarification needed] – a business tactic that skyrocketed after Wasserman's negotiation and Stewart's ensuing success.[citation needed]
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Following the rising postwar popularity of television and the resulting near bankruptcy of many studios, Wasserman purchasedUniversal Studios andDecca Records in 1962 and merged them with MCA. In 1966, he singlehandedly installedJack Valenti as head of theMotion Picture Association of America (MPAA). Together they orchestrated and controlled much of how Hollywood operated, and was allowed to do business, for the next several decades. Wasserman ran the combined company for nearly 30 years before selling it toJapaneseconsumer electronics conglomerateMatsushita Electric in 1990.[citation needed]
According to the 2003 bookWhen Hollywood Had a King: The Reign of Lew Wasserman, Who Leveraged Talent into Power and Influence, Wasserman was interested in acquiringThe Walt Disney Company in 1984, and this deal came within inches of actually happening:[6]
In 1984, MCA held talks about acquiringWalt Disney Studios when that company was trying to repel the advances of investorSaul Steinberg. "All the terms were done," saidBarry Diller, who had learned what happened from one of the principals. "But theDisney family said thatRon Miller [a Disney executive] had to be [MCA] president. [MCA president and COO]Sid [Sheinberg] said to Lew, "It's fine."Felix [Rohatyn, the investment banker advising MCA] said to Lew, "Do it – a year from now, you'll get rid of Miller, and make Sid President." But Lew said "No. Sidney is president.""It was Lew's inflexibility that caused him to blow deals he should not have blown," Diller added. "He and Jules had built the best company – they should have owned the world. And had they made this deal with Disney, everything would have been different."
As a tribute to the man who essentially built the park, the New York section ofUniversal Studios Florida possesses a statue of Wasserman with an accompanying plaque. It is routinely decorated for various events, such asHalloween Horror Nights.[citation needed]
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According toDan Moldea's surveyDark Victory: Ronald Reagan, MCA, and the Mob (which inspired Clara and Julia Kuperberg's 2017 TV documentaryRonald Reagan: un Président Sur Mesure), Wasserman was the link between the Mafia, the Hollywood film industry and Reagan, who obtained very lucrative deals as an actor with Wasserman as his agent. By 1947, just afterAl Capone died, and still with the help of his alliance with the underworld, Wasserman was instrumental in helping Reagan to become president of theScreen Actors Guild, which kicked-off Reagan's rise to power. Reagan allowed MCA to work both as a producer as well as an agent, which enabled the Mafia to earn a huge income.
In 1993, Wasserman createdUniversal CityWalk and made numerous, substantial changes to the Universal City area. Wasserman pocketed an estimated $350 million from the sale of MCA and remained as manager, but with vastly diminished power and influence, untilSeagram boughtcontrolling interest in 1995, which then resulted in his role becoming even more marginalized. Wasserman served on theboard of directors until 1998. On September 29, 1995, Wasserman was presented with thePresidential Medal of Freedom by PresidentBill Clinton. In 1996, he was inducted into theTelevision Hall of Fame.[7]
Wasserman died of complications from a stroke in Beverly Hills in 2002 and was interred inHillside Memorial Park inCulver City. He was honored posthumously with the 2,349th star on theHollywood Walk of Fame on October 5, 2007.[citation needed]
Wasserman was married to Edith "Edie" Beckerman, who was also Jewish.[8] They had one child, a daughter, Lynne Kay Wasserman.[1] Lynne married MCA agent Ron Leif with whom she had a daughter, Carol Ann Leif; they later divorced. In 1970, Lynne married stockbroker Jack Meyerowitz. They changed their name to Myers and had a son,Casey Wasserman. This marriage also ended in divorce.[9] Casey carries on the family name in the agency business, theWasserman Media Group (WMG), which he started in 1998. He is also acting president and chief executive officer of the Wasserman Foundation, a charitable organization founded by the Wassermans in 1952 in Beverly Hills.[10] ActressJamie Lee Curtis was his goddaughter.[11]
Wasserman's granddaughter, Carol Ann Leif, is a stand-up comedian.[10]
Wasserman's widow, Edie, died on August 18, 2011, at the age of 95.[12][13]
Wasserman was portrayed by David Eisner in theCBS filmMartin and Lewis (2002), by Stewart Bick in the TV filmThe Reagans (2003), and byMichael Stuhlbarg inHitchcock (2012). Wasserman was also the subject of the biography filmThe Last Mogul (2005).[citation needed]
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