Merv Adelson 1929-2015 (Producer and Co-Founder of Lorimar Television)

[Zoneboy]

The industry legend, who was briefly married to Barbara Walters, produced several hit TV shows in the 1970s and 1980s, including 'The Waltons,' 'Dallas,' and 'Knots Landing.'

Link


Merv Adelson, an industry titan who shepherded some of the most well-known TV properties to the screen, has died, The Hollywood Reporter has learned. He was 85.

The entertainment executive founded Lorimar with developer Irwin Molasky and producer Lee Rich, who later sold his shares. The company’s first major hit was The Waltons, which premiered in 1972.

Lorimar produced several hit TV shows in the late 1980s, including ALF, Full House, Knots Landing and Love Connection, but had accumulated significant losses from its lack of success with movies.

Hollywood's top executives mourned Adelson on Wednesday in statements to The Hollywood Reporter.

CBS CEO Leslie Moonves remembers the mogul as "a wonderful boss and mentor. He also was a very classy guy who I looked up to."

Lorimar alum Bruce Rosenblum recounts: "Merv was a visionary. Together with Lee Rich, he nurtured one of the great independent television studios of all time."

Dreamworks Animation CEO Jeffrey Katzenberg tells THR: "Merv was one of the true greats!!! He did it all and he did it his way. He was a wonderful mentor to so many and will be missed."

Born on Oct. 23, 1929, Adelson grew up in California but made his first fortune in his twenties when he opened a 24 hour grocery store in Las Vegas in the early 1950s. The grocery store led to more real estate projects, including the building of the famed La Costa resort in the early 1960s. Throughout this period Adelson and partner Molasky were dogged with rumors of mob ties.


Adelson formed Lorimar in 1969 with Rich and Molasky. They saved from The Waltons from cancelation with an ad buy that persuaded CBS boss William Paley to hang on to the show. A string of other hits followed The Waltons — Dallas, Knots Landing, Falcon Crest, Eight Is Enough — so many in fact that Lorimar was nicknamed the fifth network.

In 1986 the company merged with syndicator Telepictures and the the whole company was sold to Warner Bros. in 1989 for $1.2 billion. Following the acquisition, Adelson became the vice chairman at Warner until 1991.

Adelson’s personal fortune was about $300 million and he owned homes in Aspen, Malibu, New York and Los Angeles.

While at the height of his career, Adelson married famous journalist Barbara Walters in May 1981, but divorced just three years later. The couple reconciled and married once again in 1986. At the second wedding ceremony, which was held at producer Leonard Goldberg’s home, Walters said, “This is the way it will always be: Merv will always say the perfect thing, and I’ll always get the last word.” They divorced again in 1992.

Between 2000 and 2003 he lost most of his fortune in the dotcom crash, losing more than $141 million alone when Time Warner stock cratered from $57 a share to $7 a share. In his later years, he famously could only afford a 500 square foot Santa Monica apartment.