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Lewis Robert Wasserman (March 22, 1913 – June 3, 2002) was an American businessman and talent agent, described as "the last of the legendary movie moguls" and "arguably the most powerful and influential Hollywood titan in the four decades after World War II". His career spanned nearly eight decades from the 1920s to the 2000s; he started working as a cinema usher before dropping out of high school, rose to become the president of MCA Inc. and led its takeover of Universal Pictures, during which time Wasserman "brought about changes in virtually every aspect of show business". In 1995, he was awarded the Presidential Medal of Freedom by President Bill Clinton. Several years later, he spoke of his ongoing work at Universal to Variety, saying, "I am under contract here for the rest of my life, and I don't think they would throw me out of my office—my name is on the building."
Wasserman was an influential player and fundraiser in the Democratic Party, but was also a lifelong and instrumental advocate, mentor, and close friend of Reagan's. The Newsmeat Power Rankings identify Wasserman and his close friend Jack Valenti as two of the top five "most famous and powerful Americans whose campaign contributions result most often in victory."
At MCA, Wasserman expanded upon a business practice known as film packaging, a process established by earlier agents like Feldman and Selznick. Since studios reduced output after World War II, they let more actors out of long-term contracts, and big agencies like MCA could then negotiate stronger terms for their clients. Agents like Wasserman would pitch packages, for example a writer client, director client, and actor or actress, to the studios who then needed only to finance it. Therefore, in some respects, agencies began to do the job previously done by the studios – namely, assembling films.
Wasserman expanded on practices established by earlier agents. For example, Feldman and Selznick realized in the late 1930s that an actor could pay much less tax by turning himself into a corporation. The corporation, which would employ the actor, would own part of a motion picture in which the actor appeared, and all monies would accrue to the corporation, which was taxed at a much lower rate than was personal income.
Wasserman used this tax avoidance scheme with actor James Stewart, beginning with the Anthony Mann western Winchester '73 (1950). This marked the first time an onscreen talent ever received "points in the film" – a business tactic that skyrocketed after Wasserman's negotiation and Stewart's ensuing success.
Following the rising postwar popularity of television and the resulting near bankruptcy of many studios, Wasserman purchased Universal Studios and Decca Records in 1962 and merged them with MCA. In 1966, he singlehandedly installed Jack Valenti as head of the Motion Picture Association of America (MPAA). Together they orchestrated and controlled much of how Hollywood operated, and was allowed to do business, for the next several decades. Wasserman ran the combined company for nearly 30 years before selling it to consumer electronics conglomerate Matsushita Electric in 1990.
According to the 2003 book When Hollywood Had a King: The Reign of Lew Wasserman, Who Leveraged Talent into Power and Influence, Wasserman was interested in acquiring The Walt Disney Company in 1984, and this deal came within inches of actually happening:
As a tribute to the man who essentially built the park, the New York section of Universal Studios Florida possesses a statue of Wasserman with an accompanying plaque. It is routinely decorated for various events, such as Halloween Horror Nights.
Wasserman died of complications from a stroke in Beverly Hills in 2002 and was interred in Hillside Memorial Park in Culver City. He was honored posthumously with the 2,349th star on the Hollywood Walk of Fame on October 5, 2007.
Wasserman's granddaughter, Carol Ann Leif, is a stand-up comedian.
Wasserman's widow, Edie, died on August 18, 2011, at the age of 95.
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