In remembrance: Frank Price, 95, distinguished Hollywood producer and USC trustee

USC Life Trustee Frank Price, a pivotal figure behind numerous cultural milestones of the silver screen during the ’80s and ’90s, passed away on Aug. 25 in Santa Monica. He was 95.

The veteran Hollywood executive supervised a myriad of award-winning productions, most notably Back to the Future, Tootsie, Ghostbusters, The Karate Kid and Out of Africa.

He contributed his expertise and background in the film and television sector at USC as the founding chairman of the Board of Councilors for the USC School of Cinematic Arts, leading a prominent group that included George Lucas, Steven Spielberg, Robert Zemeckis, and David Geffen. He also acted as a USC trustee since 1996 and initiated the Katherine and Frank Price Endowed Chair for the Study of Race and Popular Culture and Professor of Cinema and Media Studies.

“Frank’s insight and leadership contributed to shaping both the film industry and our own School of Cinematic Arts,” USC Interim President Beong-Soo Kim stated. “He was unwaveringly dedicated to mentoring the next generation of artists, and his faith in the transformative nature of storytelling will continually motivate his Trojan Family for years to come.”

“Throughout his journey, Frank infused imagination and valor into the screen, and he carried that same essence into his service at USC,” USC Board of Trustees Chair Suzanne Nora Johnson remarked. “His sage advice fortified our Board of Trustees and facilitated the university’s ascent to new levels of scholarly and creative excellence. We will eternally be thankful for his commitment to our Trojan Family.”

Frank Price: Guidance for USC’s film school

Elizabeth Daley, dean of the USC School of Cinematic Arts, lauded Price’s fundamental role in establishing the school’s Board of Councilors. “Frank Price’s influence on the success of the USC School of Cinematic Arts is significant and immeasurable,” Daley expressed. “His absence is profoundly felt by everyone here, and by the countless USC alumni who cherished him. His focus, concern, and persistent dedication to creating opportunities for every talented individual he respected constitute his legacy. There is no doubt he adored the School of Cinematic Arts, and we adored him. We will deeply miss him.”

Price held the position of chairman and CEO at Price Entertainment Inc., an independent production company that produced films such as The Tuskegee Airmen, Shadowlands, and A Bronx Tale. Before establishing his own company, he was chairman of Columbia Pictures, chairman of MCA Motion Picture Group, and president of Universal Television.

Born in Illinois, Price relocated frequently during his upbringing as his father sought employment during the Depression. His initial exposure to Hollywood happened when he visited his mother, who worked in the commissary at the Warner Bros. lot.

Following a brief period in the U.S. Navy, where he contributed as the editor for his ship’s newspaper, Price attended Michigan State University, which honored him with an honorary doctor of humanities degree in 2003. After three years at Michigan State, he transferred to Columbia University but departed to accept a full-time role within the television story department at CBS.

Ascending through the ranks: Frank Price’s Hollywood journey

He swiftly moved up the hierarchy, transitioning from writer to producer to division president. As president of Universal Television in the 1970s, he set the stage for hit shows such as The Rockford Files, The Six Million Dollar Man, The Incredible Hulk, Battlestar Galactica, and The Bionic Woman. Price also pioneered two new formats: the made-for-TV movie and the miniseries.

Enticed into the film industry by an invitation to head Columbia Pictures in 1979, he managed successful films like Gandhi, which garnered eight Academy Awards, and Kramer vs. Kramer, which received five Oscars. Price’s tenure as studio chief at Columbia concluded in 1983 when he transitioned to chairman of MCA Motion Picture Group.

After three years, he exited MCA and later returned briefly to Columbia in the early ’90s. There, Price provided USC alumnus John Singleton his initial opportunity as a writer and director, securing him a long-term contract and approving Boyz n the Hood, which became a critically praised achievement.

Among his numerous accolades, Price was honored as Pioneer of the Year by the Foundation of the Motion Picture Pioneers in 1982 and received the title of Motion Picture Executive of the Year by the National Association of Theatre Owners in 1980. President George W. Bush appointed Price as a member of the National Council on the Arts for a six-year term commencing in 2006.

Price participated on the boards of directors for Columbia Pictures, MCA Inc., and Sony Pictures Entertainment. He was also a member of the boards for the Academy of Motion Picture Arts and Sciences, the Motion Picture Association of America, and the Sundance Institute.

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