The Guber-Peters Entertainment Company

The Guber-Peters Entertainment Company was founded in 1983 by Peter Guber and Jon Peters, who were founders of PolyGram Pictures (later revived in 1986 as "PolyGram Filmed Entertainment") as a film production company known as "The Guber-Peters Company". They entered television production in 1984. In January 1988, the Guber-Peters Company merged with Barris Industries, Inc. and became Barris/Guber-Peters, which was later renamed to "The Guber-Peters Entertainment Company" on September 7, 1989.On September 29, 1989, Sony Corporation approached Guber and Peters to become the heads of Columbia Pictures Entertainment. However, Warner Bros.' boss, Steve Ross threatened to sue Sony for for $1 billion for breach of contract, because Guber and Peters were under contract with Warner Bros. GPEC was acquired on November 9, 1989 by Sony for $200 million, a day after Sony acquired Columbia Pictures Entertainment for $3.4 billion. The suit was dismissed when Sony sold half of its interest in Columbia House as well as distribution rights to films by Weintraub Entertainment Group to WB and Sony acquiring the historic MGM lot from Time Warner in 1990. On November 5, 1990, Guber-Peters Television was folded into Columbia Pictures Television Distribution (now "Sony Pictures Television"). Guber-Peters Television acted as a in-name partner for the TV movie Switched At Birth. The final TV movie was Christmas On Division Street and was aired on December 15, 1991 on CBS. The Guber-Peters Entertainment Company however, remained as a production company of Sony Pictures Entertainment. As of September 21, 1993, the Guber-Peters Entertainment Company is now known as "GPEC Inc." as an in-name-only unit of Columbia Pictures.