New World Pictures was an independent motion picture and television production company, and later television station owner in the United States from the late 1980s to the mid-1990s. News Corporation became a major investor in 1994 and purchased the company outright in 1997; the alliance with News Corporation helped to cement the Fox network as the fourth major U.S. television network. Although effectively defunct, it, along with various regional subsidiaries , continues to exist as holding companies within the complex News Corporation corporate structure. In 1970, the company was founded as... New World Pictures, Ltd., by B-movie legend Roger Corman. At the time, New World was the last remaining national low budget film distributor. Corman sold the company in 1983 for $16.5 million to Larry Kupin, Harry E. Sloan, and Larry A. Thompson, who took the company public. Corman retained the film library while New World acquired home-video rights. Later that year, Thompson left the company to form his own firm.
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