page_title: 20th Century Studios
section_title: Marvin Davis and Rupert Murdoch
hierarchical_section_title: 20th Century Studios / History / Marvin Davis and Rupert Murdoch
context_page_description: 20th Century Studios, Inc. is an American film studio that is a subsidiary of The Walt Disney Studios, a division of The Walt Disney Company. The studio is located on the Fox Studio Lot in the Century City area of Los Angeles. Walt Disney Studios Motion Pictures distributes and markets the films produced by 20th Century Studios.
  20th Century was one of the "Big Six" major American film studios for over 83 years. It was formed from the merger of the Fox Film Corporation and the original 20th Century Pictures in 1935. In 1985, the studio was acquired by News Corporation, which was succeeded by 21st Century Fox in 2013, after spinning off its publishing assets. In 2019, Disney purchased 20th Century Fox through its acquisition of 21st Century Fox. The studio's current name was adopted on January 17, 2020.
context_section_description: With financial stability came new owners, when 20th Century-Fox was sold for $720 million on June 8, 1981 to investors Marc Rich and Marvin Davis. 20th Century-Fox's assets included Pebble Beach Golf Links, the Aspen Skiing Company and a Century City property upon which Davis built and twice sold Fox Plaza.
  By 1984, Rich had become a fugitive from justice, having fled to Switzerland after being charged by U.S. federal prosecutors with tax evasion, racketeering and illegal trading with Iran during the Iran hostage crisis. Rich's assets were frozen by U.S. authorities. In 1984 Marvin Davis bought out Marc Rich's 50% interest in 20th Century-Fox Film Corporation for an undisclosed amount, reported to be $116 million. Davis sold this interest to Rupert Murdoch's News Corporation for $250 million in March 1985. Davis later backed out of a deal with Murdoch to purchase John Kluge's Metromedia television stations. Murdoch went ahead alone and bought the stations, and later bought out Davis' remaining stake in 20th Century Fox for $325 million. From 1985, the hyphen was quietly dropped from the brand name, with 20th Century-Fox changing to 20th Century Fox.
  To gain FCC approval of 20th Century-Fox's purchase of Metromedia's television holdings, once the stations of the long-dissolved DuMont network, Murdoch had to become a U.S. citizen. He did so in 1985, and in 1986 the new Fox Broadcasting Company took to the air. Over the next 20-odd years the network and owned-stations group expanded to become extremely profitable for News Corp.
  The company formed its Fox Family Films division in 1994 to boost production at the studio and would handled animation films. In February 1998, following the success of Anastasia, Fox Family Films changed its name to Fox Animation Studios and drop its live action production which would be picked up by other production units.
  Since January 2000, this company has been the international distributor for MGM/UA releases. In the 1980s, 20th Century Fox — through a joint venture with CBS called CBS/Fox Video — had distributed certain UA films on video; thus UA has come full circle by switching to 20th Century Fox for video distribution. 20th Century Fox also makes money distributing films for small independent film companies.
  In late 2006, Fox Atomic was started up under Fox Searchlight head Peter Rice and COO John Hegeman as a sibling production division under Fox Filmed Entertainment. In early 2008, Atomic's marketing unit was transferred to Fox Searchlight and 20th Century Fox, when Hegeman moved to New Regency Productions. Debbie Liebling became president. After two middling successes and falling short with other films, the unit was shut down in April 2009. The remaining films under Atomic in production and post-productions were transferred to 20th Century Fox and Fox Spotlight with Liebling overseeing them.
  In 2008, 20th Century Fox announced an Asian subsidiary, Fox STAR Studios, a joint venture with STAR TV, also owned by News Corporation. It was reported that Fox STAR would start by producing films for the Bollywood market, then expand to several Asian markets. In 2008, 20th Century Fox started Fox International Productions .
  Chernin Entertainment was founded by Peter Chernin after he stepped down as president of 20th Century Fox's then-parent company News Corp. in 2009. Chernin Entertainment's five-year first-look deal for the film and television was signed with 20th Century Fox and 20th Century Fox TV in 2009.
  In August 2012, 20th Century Fox signed a five-year deal with DreamWorks Animation to distribute in domestic and international markets. However, the deal did not include the distribution rights for previously released films which DreamWorks Animation acquired from Paramount Pictures later in 2014. Fox's deal with DreamWorks Animation ended on June 2, 2017 with Captain Underpants: The First Epic Movie, with Universal Pictures taking over the distribution deal with DreamWorks Animation due to NBCUniversal's acquisition of DreamWorks Animation on August 22, 2016, starting on February 22, 2019 w
caption: Fox Plaza, Century City headquarters completed in 1987
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