Reiner and Scheinman already had a production company. They were friends with Shafer, who worked with Horn at 20th Century Fox at the time. Horn was disappointed at Fox and agreed to join the trio in forming the company. Horn brought along Padnick, who was an executive at Embassy Television. In Castle Rock, Horn became the CEO, Shafer ran the film division, Padnick ran television, and Reiner and Scheinman became involved in the development of productions.[4]
The then-new company, originally called Castle Rock Productions, is targeted to a minimum of 15 features over a 5-year period at a 3-picture a year pace, with support from then-Columbia Pictures CEO David Puttnam, following the box office success of the film Stand by Me, which was produced by Act III Communications (controlled by Reiner's colleague Norman Lear; the film had been in production at Embassy when Lear sold Embassy to Columbia and Lear subsequently paid for production to continue).[7]
Shortly after formation, Castle Rock appointed Nelson Entertainment, the company that owned the domestic home video rights to Reiner's This Is Spinal Tap, The Sure Thing, and The Princess Bride, to join a five-year, eighteen-picture joint venture; this was in addition to a pre-existing pact between Nelson and Columbia Pictures for a 3-year, 12-feature deal, in which Columbia Pictures would serve as the co-financing entity; Castle Rock would produce fourteen films, while Nelson produced four films themselves.[8]
Under the deal, Nelson also distributed the films on video in North American markets, and handled international theatrical distribution, while Columbia Pictures, which Nelson forged a distribution deal with, would receive domestic theatrical distribution rights. Some of Nelson's holdings were later acquired by New Line Cinema, which took over Nelson's duty. Columbia Pictures, shortly after the company's formation, thereafter had to re-invest with a substantial change in terms when accumulated losses exhausted its initial funding.
Reiner has stated that Castle Rock's purpose was to allow creative freedom to individuals; a haven away from the pressures of studio executives. Castle Rock was to make films of the highest quality, whether they made or lost money.[4] In 1989, Castle Rock was supported by another backer, Group W, a subsidiary of Westinghouse.[9]
Castle Rock has also produced several television series, most notably the sitcom Seinfeld.[10]
Turner purchase and WarnerMedia ownership
In August 1993, Turner Broadcasting System agreed to acquire Castle Rock Entertainment, along with co-financing partner (and eventual Castle Rock Entertainment corporate sibling) New Line Cinema. The sale was completed on December 22, 1993.[11][12] The motivation behind the purchase was to allow a stronger company to handle the overhead.[4]
By 1994, Castle Rock Entertainment launched a foreign sales operation, Castle Rock International, and planned to produce 12 to 15 films annually.[13] Castle Rock Entertainment also had aspirations to distribute its own films once its deal with Columbia Pictures expired in 1998.[13][14] It was long rumored that Castle Rock Entertainment's film projects could go to New Line Cinema when the deal expired.[15]
Turner Broadcasting System merged with Time Warner Entertainment in 1996. After a failed attempt to divest the company, Time Warner Entertainment integrated Castle Rock Entertainment into Warner Bros., and cut its production slate to five films per year.[14] On June 27, 1997, Castle Rock Entertainment's staff was reduced to 60 employees and Castle Rock International was folded into Warner Bros.[16]
In January 1998, Warner Bros. and PolyGram Filmed Entertainment formed a deal to co-finance and co-distribute Castle Rock Entertainment films; that deal was taken over by Universal Pictures after the studio's parent company Seagram merged with PolyGram later that year. The Warner Bros./Universal deal expired in 2000.[17] On June 19, 2000, after the expiration of the Universal deal, Spanish player Telefónica Media took over its take in the Castle Rock production company. Castle Rock Entertainment also set up projects with Village Roadshow Pictures and Bel-Air Entertainment, two of Warner Bros.' key production affiliates.[18]
On July 20, 1998, Castle Rock Television took over production of The WB's midseason show Movie Stars, which was set to be in development at Studios USA.[19] In 2001, Castle Rock Television had set up Mission Hill writers Bill Oakley and Josh Weinstein with an overall deal, producing several projects, like an unsold family concept pitch at ABC.[20]
In April 2002, Warner Bros. reduced Castle Rock Entertainment's budget following a string of box office bombs. Castle Rock Entertainment fired 16 of its 46 employees, and Castle Rock Entertainment's physical production and public relations departments, back-office duties, and remaining employees were absorbed into Warner Bros.[21]
Relaunch
In May 2020, Rob and Michelle Reiner signed a deal with Warner Bros. Television Studios, and on October 1 of that year, it relaunched the company.[22] On October 19, 2021, the feature division company was revived with a $175 million film fund under which the studio will develop, produce and finance new films for global audiences. Reiner will continue as Castle Rock CEO, with Michele Reiner and Matthew George serving as co-presidents. Castle Rock will produce films in a first-look deal with Warner Bros. on theatrical content, which has long been its home, in addition to their existing deal with Castle Rock television productions.[23] In April 2022, Jonathan Fuhrman joined Castle Rock Entertainment as EVP and Head of Business Affairs. He will report to Rob and Michelle Reiner and Matthew George.[24]
Following an additional $170 million investment from Derrick Rossi, Reiner announced his intention to relaunch Castle Rock through two films, one a sequel to his This Is Spinal Tap mockumentary, and the other Albert Brooks: Defending My Life documentary, shopping both films at the 2022 Cannes festival.[25]
