The news of Warner Bros. Discovery‘s apparent acquisition by Paramount has dominated the conversation for the past several months. Initially, it seemed like Netflix would be the buyer, prompting Paramount to launch a hostile takeover that eventually culminated in a $110 billion bid to buy the venerable studio. Thus, one of the last surviving major studios — one of the original Big 5, in fact — is on its way to being absorbed, truly marking the end of an era in Hollywood.
At least Warner Bros. isn’t fading from existence. Throughout Hollywood’s long history, many major film studios have actually disappeared, some being sold for scraps while others being quietly folded into larger companies. Whether because of financial struggles, the underperformance of their titles, or their inability to keep up with the major studios in an ever-changing entertainment landscape, these studios disappeared from the industry, leaving behind legacies of varying impact.
RKO Pictures (1928-1959)
Along with 20th Century Fox, MGM, and the aforementioned Warner Bros. and Paramount, RKO was the last one of the original Big 5 Hollywood Studios. Founded in 1928 after Radio Corporation of America merged the Keith-Albee-Orpheum theater chain with Joseph P. Kennedy’s silent film studio, Film Booking Offices of America, RKO became renowned for its musical productions, originally powered by the formidable combo of Fred Astaire and Ginger Rogers. Throughout the Hollywood Golden Age, RKO produced many movies that have become bona fide classics, most notably King Kong, Citizen Kane, and Notorious. The studio was also responsible for distributing many of Disney’s early films, including Snow White and the Seven Dwarfs and Pinocchio.
In 1948, eccentric millionaire Howard Hughes acquired RKO, initiating a period of instability for the studio due to his meddling in the production process. Following years of decline under Hughes’ control, the General Tire and Rubber Company acquired RKO in 1955, breaking new ground as the first major studio to sell the bulk of its film library’s TV rights. Only a few years later, in 1957, RKO ceased operations and effectively dissolved in 1959, becoming the first major studio to disappear. In 1978, a new subsidiary was launched under the name RKO Pictures Inc., but the business barely lasted a decade before being sold to new owners, alongside RKO’s trademark and the remake rights to many classics.
Cannon Films (1967-1994)
The home to many gloriously terrible ’80s movies, Cannon Films left behind an admirable legacy of delightful schlock. A part of the larger Cannon Group Inc., Cannon Films was operational from 1967 to 1994 and quickly made a name for itself as the go-to place to produce B-movies, a genre that saw a significant rebirth in the 1980s. Perhaps the studio’s most well-known titles are the Sylvester Stallone-starring Cobra, the Jean-Claude Van Damme vehicle Bloodsport, the cult classics Masters of the Universe, and the so-bad-they’re-good gems The Apple and Lifeforce.
Unfortunately, the studio’s approach of low-budget productions in high volumes proved unsuccessful. Furthermore, their attempts to break into blockbuster filmmaking backfired spectacularly, particularly Masters of the Universe and the now-infamous Superman IV: The Quest for Peace, widely considered among the most disappointing sequels ever made. Finally, the studio filed for bankruptcy in 1988, with Pathé Communications buying it afterwards. Even then, the reformed studio never again managed to climb the heights it achieved during its early ’80s run, and it went into bankruptcy again by the late ’90s. Sure, many of its once-celebrated movies have aged terribly, but Cannon Films is still an important part of ’80s movie history.
Carolco Pictures (1976-1995)
In the modern era, perhaps no fall from grace by a studio is more infamous than that of Carolco Pictures. A giant of ’80s and early ’90s cinema, Carolco existed for nearly twenty years and left behind an incredibly strong library of pictures, many of which are outright iconic today. Founded by Mario Kassar and Andrew G. Vajna, Carolco rose to prominence through a mix of high-concept movies made for considerable budgets, including their first major hit, Stallone’s First Blood. Several major successes followed, including the Rambo sequels, Total Recall, Terminator 2: Judgment Day, and Basic Instinct.
Carolco’s downfall began in 1989, following Vajna’s departure, who received about $100 million for his stake in the company. The studio built its library through a mix of high budgets and high salaries for its main stars, including Stallone and Arnold Schwarzenegger. A series of flops made their business model further unsustainable, including Paul Verhoeven‘s notorious 1996 critical and commercial flop, Showgirls. The film that would actually lead to the studio’s demise, however, was Renny Harlin‘s 1995 swashbuckling adventure Cutthroat Island, an unmitigated disaster that ultimately lost $147 million and pushed Carolco into bankruptcy. Today, Carolco remains both an example of a studio that defied expectations to compete with the greats and a cautionary tale of unchecked ambition and mismanagement.
Touchstone Pictures (1984-2016)
Touchstone Pictures was launched as a label of the Walt Disney Company to produce mid-budget movies aimed at the teen and young adult demographic. Created by Ron W. Miller in 1984, Touchstone established itself as a solid performer within Disney, producing many of the studio’s best-known non-animated pictures. Among its biggest successes are the 1989 animation-live-action hybrid Who Framed Roger Rabbit, the seminal 1990 romantic comedy Pretty Woman, the 1998 disaster hit Armageddon, and twoM. Night Shyamalan movies,Signs andThe Village .
Alas ,the success wasn’t meant to last . Touchstone Pictures made its name producing mid-budget ,adult-oriented movies that thrived in ’90s butbecame increasingly out of fashion in 2000s . As superhero genre franchise films became name game ,Touchstone’s brand weakened , especially within Disney ,a studio that very much spearheaded IP-driven cinema in new millennium . In 2009 , Touchstone entered into agreement with DreamWorks Pictures , becoming company’s distributor for next five years . Following release 2016’sThe Light Between Oceans , Touchstone Pictures officially bowed out game .
The Weinstein Company (2005-2018)
The nameHarvey Weinstein has become synonymous with everything wrong in Hollywood . Once producing powerhouse mastermind awards season , Weinstein oversaw multiple productions alongside brother,Bob , first through Miramax late ’70s then throughThe Weinstein Company , starting in 2005 . At one point ,TWC was among largest “mini-major” studios Hollywood , producing Oscar-winning hits likeSilver Linings Playbook andThe Fighter alongside solid genre efforts likeScream 4 . As distributor , TWC was behind films likeDjango Unchained ,The King’s Speech ,The Imitation Game
Of course , Weinstein’s scandal subsequent conviction as sex offender were enough accelerate TWC’s ultimate fate . However , company was trouble even before news Weinstein’s misbehavior broke out in 2017 . In early 2018,the company declared bankruptcy filed liquidation May that year , with independent studio Lantern Entertainment acquiring majority remaining assets film library .The Weinstein Company’s fate mirrors stunning fall from grace co-founder , going from driving force Hollywood name cannot pronounced without feeling dread disgust . Unlike other studios this list , TWC not one that many miss , largely thanks Weinstein’s infamy even before his crimes came light .
