In memoriam: Frank Price, 95, renowned Hollywood producer and USC trustee

USC Life Trustee Frank Price, a guiding figure behind many of the cultural touchstones of the silver screen during the ’80s and ’90s, died Aug. 25 in Santa Monica. He was 95.

The longtime Hollywood executive oversaw dozens of award-winning productions, chief among them Back to the Future, Tootsie, Ghostbusters, The Karate Kid and Out of Africa.

He brought his wisdom and experience in the film and television industry to bear at USC as the founding chairman of the Board of Councilors at the USC School of Cinematic Arts, leading a high-profile group that included George Lucas, Steven Spielberg, Robert Zemeckis and David Geffen. He also served as a USC trustee since 1996 and established the Katherine and Frank Price Endowed Chair for the Study of Race and Popular Culture and Professor of Cinema and Media Studies.

“Frank’s vision and leadership helped shape both the film industry and our own School of Cinematic Arts,” USC Interim President Beong-Soo Kim said. “He was deeply committed to guiding the next generation of artists, and his belief in the transformative power of storytelling will continue to inspire his Trojan Family for generations to come.”

“Throughout his career, Frank brought imagination and courage to the screen, and he carried that same spirit into his service at USC,” USC Board of Trustees Chair Suzanne Nora Johnson said. “His wise counsel strengthened our Board of Trustees and helped the university ascend to new heights of academic and creative excellence. We will always be grateful for his devotion to our Trojan Family.”

Frank Price: Leadership for USC’s film school

Elizabeth Daley, dean of the USC School of Cinematic Arts, praised Price’s seminal role in assembling the school’s Board of Councilors. “Frank Price’s impact on the success of the USC School of Cinematic Arts is profound and immeasurable,” Daley said. “His loss is deeply felt by everyone here, and by the hundreds of USC alumni who knew and loved him. His attention, care and constant focus on creating opportunities for everyone whose talent he admired is his legacy. There is no doubt that he loved the School of Cinematic Arts, and we loved him. We will miss him dearly.”

Price was chairman and CEO of Price Entertainment Inc., an independent production company that developed films such as The Tuskegee Airmen, Shadowlands and A Bronx Tale. Prior to launching his own firm, he was chairman of Columbia Pictures, chairman of MCA Motion Picture Group and president of Universal Television.

Born in Illinois, Price moved frequently throughout his childhood as his father sought work during the Depression. He got his first taste of Hollywood when visiting his mother, who worked in the commissary on the Warner Bros. lot.

After a short stint in the U.S. Navy, where he served as editor of his ship’s newspaper, Price attended Michigan State University, which awarded him with an honorary doctor of humanities degree in 2003. After three years at Michigan State, he transferred to Columbia University but left to take a full-time position with the television story department at CBS.

Rising through the ranks: Frank Price’s Hollywood career

He quickly advanced through the ranks, from writer to producer to division president. As president of Universal Television in the 1970s, he paved the way for acclaimed series such as The Rockford Files, The Six Million Dollar Man, The Incredible Hulk, Battlestar Galactica and The Bionic Woman. Price also spearheaded two new formats: the made-for-TV movie and the miniseries.

Drawn into the film industry by an offer to lead Columbia Pictures in 1979, he oversaw hits such as Gandhi, which earned eight Academy Awards, and Kramer vs. Kramer, which netted five Oscars. Price’s post as studio chief with Columbia ended in 1983, when he became chairman of MCA Motion Picture Group.

After three years, he left MCA and later returned to Columbia for a short period in the early ’90s. There, Price gave USC alumnus John Singleton his first break as a writer and director, signing him to a long-term contract and greenlighting Boyz n the Hood, a critically acclaimed success.

Among his many honors, Price was named Pioneer of the Year by the Foundation of the Motion Picture Pioneers in 1982 and Motion Picture Executive of the Year by the National Association of Theatre Owners in 1980. President George W. Bush selected Price as a member of the National Council on the Arts for a six-year term beginning in 2006.

Price served on the boards of directors of Columbia Pictures, MCA Inc. and Sony Pictures Entertainment. He also sat on the boards of the Academy of Motion Picture Arts and Sciences, the Motion Picture Association of America and the Sundance Institute.

He is survived by his wife, Katherine, and three sons: David, Roy JD ’95 and Will MS ’96. His son Stephen died in December.