Peter W. Geiger, an entertainment industry financial pioneer, died Sunday Feb. 24 in Los Angeles from complications following heart surgery. He was 74.
He began his entertainment career in New York City working for RKO Pictures. In 1951 he joined Bank of America, where he specialized in rescuing failed film financing loans.
His idea was “The Million Dollar Movie of the Week” which marked the first time feature films were sold in the syndicated television marketplace, allowing the bank to collect on previously uncollectible loans.
He served for many years as Bank of America’s senior account officer to the major Hollywood studios including Warner Bros., 20th Century Fox, Disney, Paramount Columbia.
Following his retirement from B of A in 1990, he launched his own consulting firm, the Geiger Group, which provided financing and marketing advice to theater chains and entertainment companies.