Banks would not provide any extension to the loan, and Diller pressed Davis for the new equity he had promised to put into Fox. Fox's financial situation was precarious, with the company owing $600 million. Diller asked Davis for complete control, with Davis promising to provide financing for the studio. In 1984 Davis appointed Barry Diller, formerly chairman and chief executive officer of Paramount Pictures, to the chairman and CEO role at 20th Century Fox. Reagan suggested to Davis that he produce films that implied, rather than showed, sex, in the style of director Ernst Lubitsch. While Davis was head of 20th Century Fox, President Ronald Reagan and his wife, Nancy, complained to him about excessive sexuality in films. Fox's assets included Pebble Beach Golf Links, the Aspen Skiing Company, and a Century City property upon which he built and twice sold Fox Plaza, which was made famous as "Nakatomi Plaza" in the 1988 action film Die Hard. In 1981, Davis acquired 20th Century Fox for $722 million with financier Marc Rich. Business partners accused him in civil lawsuits of inflating the results of his oil wells. The case was settled in 1981, with Davis paying a $20,000 fine. The United States Justice Department accused one of his Davis' companies of violating federal oil-pricing policies. In 1981, Davis sold most of his oil holdings for $600 million to the Canadian company Hiram Walker-Consumers Home, Ltd. Davis ended negotiations on January 23, 1978, and the Athletics remained in Oakland under Finley's continued ownership. The Oakland–Alameda County Coliseum Authority filed a lawsuit to block the sale because Finley had ten years remaining on a lease that began with the transfer of the ballclub's operations from Kansas City for the 1968 season. ĭavis offered to purchase the Oakland Athletics from Charlie Finley for $12 million on December 12, 1977, with the intention of moving the franchise to Denver. Marvin Davis developed the oil business, and also became a major real estate developer in Denver, acquiring a shopping center and office complex. ĭavis senior's partner Ray Ryan was a pioneer of the oil deal known as the "third for a quarter," where investors in a wildcat oil well would each buy one-quarter of the well's production for a third of the cost of drilling the well, leaving all costs paid and Davis and Ryan owners of one-quarter of the well. Marvin Davis's son Gregg Davis took over as president of Davis Petroleum and Davis Offshore in 1997. In 1960s-1980s, it became a leading independent oil and gas producer in the United States, focusing on drilling in Wyoming, where the company owned a 150-mile pipeline. Wildcatter." The Davis Oil Company drilled for oil and gas in the West beginning in the 1940s and was incorporated in 1986 as Davis Petroleum, headquartered in Denver, Colorado. He joined his father in the oil exploration business and was later nicknamed "Mr. Petroleum business A blank Davis Oil Company's stock certificate Marvin graduated with a Bachelor of Science degree in engineering from New York University in 1947. In 1939 he partnered with Ray Ryan, who owned the Ryan Oil Company, and they started the Davis Oil Company. He went on to found Jay Day Dress Co., a well-priced line of women's dresses that achieved great success, selling 200,000 dresses per-month to stores across the nation. Jack Davis became a successful fashion buyer for New York department stores. His father came to the United States from London as a teenager in 1917 and later joined the British Navy after reportedly applying for a college scholarship but being denied it because he was Jewish. He had one younger sister, Joan (born 1929). Marvin Davis was raised in a Jewish family, the son of Jack Davis and Jean Spitzer. He made his fortunes as the chair of Davis Petroleum and at one time owned 20th Century Fox, the Pebble Beach Corporation, the Beverly Hills Hotel, and the Aspen Skiing Company. Davis (Aug– September 25, 2004) was an American industrialist.
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