Cannon Films

Cannon Films began as a small independent outfit in New York, initially distributing softcore and exploitation films such as Joe (1970) and The Happy Hooker (1975). The founders, Dennis Friedland and Christopher C. Dewey, sold the company in 1979 to Menahem Golan and Yoram Globus, who moved operations to Los Angeles and shifted focus to commercial genre pictures. Golan, a trained director, and Globus, a former accountant, brought a business model of fast production and aggressive international sales, often pre-selling distribution rights to fund budgets. Their first major success was The Last American Virgin (1982), which established their formula of youth-oriented and action-driven content.

During the 1980s, Cannon became the most prolific independent studio in Hollywood, releasing up to 40 films a year. Their output was defined by high-concept, low-budget action and exploitation films, often starring aging or B-list actors like Charles Bronson, Chuck Norris, and Sylvester Stallone. Notable titles include Death Wish 3 (1985), Missing in Action (1984), and Invasion U.S.A. (1985). The company also produced cult classics like Breakin' (1984) and Runaway Train (1985), the latter earning an Academy Award nomination for Jon Voight. Cannon's business model relied on pre-selling foreign rights, which allowed them to finance films with minimal domestic risk, but also led to criticism for prioritizing quantity over quality.

By the late 1980s, Cannon's aggressive expansion and overreliance on debt led to financial instability. The company acquired the Thorn EMI screen entertainment division in 1986, but a series of box-office failures, including Superman IV: The Quest for Peace (1987) and Masters of the Universe (1987), drained resources. Golan and Globus had a public split in 1989, and the company was sold to Giancarlo Parretti, who merged it with Pathé. Cannon filed for Chapter 11 bankruptcy in 1993, and its assets were eventually acquired by other studios. The company's legacy is mixed: it is remembered both as a symbol of 1980s excess and as a launching pad for many filmmakers, including John Cassavetes and Jean-Luc Godard, who directed King Lear (1987) for Cannon.

Beyond its action films, Cannon produced a surprising number of literary adaptations and art-house projects, including The Delta Force (1986) and Barfly (1987), the latter based on Charles Bukowski's script. The company also financed the musical The Apple (1980), a flop that later became a cult favorite. Cannon's distribution arm released the controversial Bolero (1984) and the animated The Secret of the Sword (1985). Notably, Cannon was the first studio to sign a deal with the Soviet Union for co-productions, resulting in The Assisi Underground (1985). The company's logo, a stylized cannon, was designed by artist Bob Peak. Cannon's influence extends to modern cinema, with filmmakers like Quentin Tarantino citing its output as an inspiration.

Exploitation film

A film that relies on sensational subject matter to attract audiences, often with low budgets.

Pre-selling

Selling distribution rights before production to raise funds.

Chapter 11

A US bankruptcy proceeding allowing a company to reorganize its debts.