Vanderbilt Television News Archive

(Studio) Report on Hollywood financial scandals being investigated by IRS, Justice Department and Los Angeles district attorney, in wake of resignation of Columbia Pictures president amid corruption charges.
REPORTER: Barbara Walters

(Hollywood, California) Scenes from movie "The Man Who Would Be King" shown. Details of so-called creative studio accounting and other shady financial dealings in movie industry given. Exs. cited are lawsuits involving actors Sean Connery and Michael Caine with Allied Artists, for "The Man Who Would Be King", and actor Tom Laughlin with Warner Bros., for movie "Billy Jack." Outlawed practice of block booking explained. Evidence gathered by reporter's own attempts to get information and interviews with people involved, with regard to possible blackballing of those who speak out about corruptive practices, outlined. Laughlin's statements quoted. Photos shown. Laughlin's unreleased film, "Billy Jack Goes to Washington", co-starring E.G. Marshall, mentioned. Sources comments on studio execs.' salaries and disguised income detailed. Reports of IRS (Internal Revenue Service) probe of Columbia Studios, formerly headed by David Begelman noted. Conflicting opinions within ind. with regard to seriousness of situation cited.
REPORTER: Geraldo Rivera