Fox studio vet ankles for equity stake
Tom Sherak, chairman of the Twentieth Century Domestic Film Group of Fox Filmed Entertainment and a 17-year vet of the studio, has ankled to join Joe Roth’s Revolution Studios, where he will be granted an unspecified equity stake in the company.
His stake is said to be at the same level as Revolution partners Rob Moore and Todd Garner.
At Revolution, Sherak will contribute through his knowledge of distribution and marketing while serving as a liaison with Sony, where Revolution has its domestic distribution pact. Sherak will also help in development and production and have the opportunity to produce.
Sherak, like other principals at Revolution, will not sport a title. He will assume his new post prior to Oct. 15.
While Sherak has never actually produced, he has been closely involved with some of the business’ top producers. “It’s a challenge,” Sherak told Daily Variety enthusiastically. “When I started at Fox, I didn’t really know much about marketing and distribution. But I learned it.”
“I would never leave Fox for just another job,” said Sherak in a statement. “When my longtime friend Joe Roth offered me the opportunity to become a partner in his company, allowing me to use my expertise in marketing and distribution and to expand into the film development and production arenas, I couldn’t turn him down,” he added.
“Tom and I have been good friends for over 17 years, and I am particularly happy to be working with him again,” Roth said. “He will supervise films and attract and service filmmakers and be responsible for the way our company and its films are perceived all over the world. There is no shrewder mind nor any individual who commands more respect in our business than Tom.”
Roth and Sherak cemented their working relationship when Roth was chairman of Fox’s film operation from 1989-92.
“Tom’s long commitment to the studio is rare in this industry,” said Tom Rothman and Jim Gianopulos, chairmen of Fox Filmed Entertainment in a statement. “We are extremely grateful to him for his dedication and loyalty. Tom is a very special man, a very special friend, and while we hate to lose him, we know this is an opportunity of a lifetime for him. All of us at Fox will miss Tom, but we are happy for him and wish him well.”
Sherak took his most recent position at Fox in January, 1997 while also retaining his title as senior exec veep of Fox Filmed Entertainment. In that role, he continued his supervisory role over distribution but also oversaw post-production, acquisitions and various special projects.
During his tenure at the studio, Sherak was involved in over 250 pics, including the “Die Hard” and both “Star Wars” series. He was also responsible for managing special projects, including Fox’s relationship with Lucasfilm.
Sherak began his career in the film biz at Paramount in 1970, working in distribution offices in Gotham, Washington, D.C. and St. Louis. Later, Sherak joined General Cinema, where he was veep and head film buyer.
During much of the 1980s, he served as prexy of domestic distribution and marketing at 20th Century Fox. In 1990, he was named exec veep. Four years later, he rose to senior exec veep of Fox Filmed Entertainment.