Beginnings The company was formed in 1969 and was the idea of agent
Freddie Fields of
Creative Management Associates with assistance from his partner
David Begelman. Inspired by the formation of
United Artists, Newman, Streisand, and Poitier formed First Artists with the understanding that they would have more creative control over their productions in exchange for being paid lower salaries and a share of the profits. Each star promised to make three productions for the company, which would also be involved in
television production,
music publishing, and recording. The distributor of the films would be
National General Pictures, which would put up two-thirds of the money for a film, with First Artists putting up the rest. The following year Steve McQueen joined the company. That year Dustin Hoffman joined the company, agreeing to make two films at no more than $3 million. He would have creative control, provided the film did not go over budget and schedule. Meanwhile, First Artists' distributor National General Pictures went into liquidation. In November 1973
Warner Bros. took over the distribution of First Artists movies. First Artists sued National General, settling in 1976.
Phil Feldman The company's initial output was sporadic, owing to the commitments of its stars, and by January 1975 it had only made seven films. That month, Philip K. Feldman, formerly a producer and an executive at CBS, Rastar, and Warner Bros., was brought in as chairman. He increased the development slate, and moved First Artists into film distribution, television, and music to ensure a more constant source of income. Feldman decided to supplement the company's movies with other stars' films, such as
Bobby Deerfield, originally developed for Paul Newman, and made with
Al Pacino at Columbia. First Artists became involved in the production of
The Gumball Rally, was a distribution consultant on
The Ritz, and did TV movies like
Minstrel Man. Other films the company planned to make included
Repo, with
Darren McGavin,
Stevie with
Glenda Jackson, and
Devilfish with
Bert Gordon. (
Devilfish and
Sitting Pretty would ultimately not be made.) First Artists shared development costs on
Bobby Deerfield,
The Gauntlet, and
The One and Only; and co-produced
Speedtrap with a Dutch conglomerate. The company also distributed some foreign films in the US, such as
Pardon Mon Affaire and
That Obscure Object of Desire. When First Artists refused to option
Harold Pinter's
Old Times for McQueen, the actor sued the company. In July 1978 the company acquired Joel/Cal-Made, a male clothing manufacturer, for $8 million. In November the company sought to buy into a London casino but was unsuccessful.
End of the company Films such as
Straight Time (Hoffman, 1978) and
Agatha (Hoffman, 1979) performed poorly at the box office, although
The Main Event (Streisand, 1979) was very successful. In September 1979 Philip Feldman resigned as chairman and president. The company was put up for sale. On December 31, 1979, the voting trust that ran First Artists on behalf of its founder‐shareholders expired and First Artists left the movie business. By this stage, the company's shares were worth $4 apiece. The company's last film was
Tom Horn. The company closed down a year later in March 1980 and was sold to Warner Bros. ==Select filmography==