Frank Price, most known for serving two terms as Studio Chief of Columbia Pictures, died Monday at the age of 95. On top of his role as Studio Chief for Columbia Pictures, Price was also known as a writer and producer, beginning his career working on various TV Westerns and serving various roles on multiple television and movie divisions at Universal. Price died of natural causes in his home, Santa Monica, California, according to The Hollywood Reporter, who was informed of his death by Frank Price’s son, former Amazon Studios president Roy Price.
As Studio Chief of Columbia Pictures, Frank Price aided in the success of many Best Picture winners of the 80s, including Kramer vs. Kramer (1979), Gandhi (1982), and Out of Africa (1985). Frank Price was also instrumental in the success of many of Columbia Pictures’ biggest box office hits of the 80s and 90s, including Tootsie (1982), Ghostbusters (1984), The Karate Kid (1984), Boyz n the Hood (1991), and A League of Their Own (1992).
One of Price’s biggest blunders was passing on E.T. The Extra-Terrestrial. Price put the movie in turnaround, thinking the film’s $10 million budget was too pricey. Steven Spielberg then brought the movie over to Universal Pictures, where it became one of the biggest box office hits of the 1980s, grossing $359 million domestically and $619 million worldwide.
Frank Price is survived by his sons: Roy, David, and Will, as well as 14 grandchildren.
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