Revue-MCA Buys Universal Pictures
One historical moment in Hollywood was the buy out of Universal studios from MCA. This entertainment conglomerate tapped in all markets of the American film history influencing other conglomerates to buy out other media companies. MCA also known as Music Corporation of America was created as a talent agency focused on the dealing with dance bands in Chicago in 1924 that was lead by Jules Stein. MCA was in the music business and later tapped into TV and Film. In 1936 MCA hired Lew Wasserman as president and chairman and by 1948 stein gave up his operations that lead Wassermann to have total control of MCA and from there he made history expanding the company with TV and Film. These media companies made billions and also produced music from artist like King Oliver a jazz cornet player and bandleader and mentor to Luis Armstrong and Jelly Roll Morton who was a music arranger of jazz, jazz blues, Dixieland and swing in the 1923.
Although MCA had expanded from music, TV and film other corporations had made the same move in expanding like Gulf and Western buying out Paramount. Warner Bros. merged with Seven Arts Productions and then bought out by Kinney National Service that formed Warner communications, and TransAmerica Corporation bought out United Artist in 1967. After 1973 Stein Jules resigns from the company and from there more success grew from many record labels like ABC records, Paramount records, Dot records, Impulse records and GPR records. As the years go by like the 70’s and 80’s by the 1990’s MCA a Japanese multinational conglomerate called Matsushita Electric buys out MCA but it doesn’t mean the end for MCA because they also invested in radio which was also another medium that expanded for MCA, but was finally bought out by Seagram’s Company Ltd.. In Wikipedia it states that “ In 1995, Seagram Company Ltd. acquired 80% of MCA from Panasonic and the following year the new owners dropped the MCA name; the company became Universal Studios, Inc. and its music division, MCA Music Entertainment Group, was renamed Universal Music Group. MCA Records continued to live on as a label within the Universal Music Group. The following year, G. P. Putnam’s Sons was sold to the Penguin Group.” Its funny how MCA bought out universal and universal was revived by a liquor company. To conclude, MCA’s historical movement and expansion made an imprint in the American film industry, to influence other conglomerates like Warner bros. Paramount and Universal Studios Inc. to buy and sell media companies that exist and continue to create great Music, TV shows and Films today.