Spyros P. Skouras

Spyros Panagiotis Skouras was born on 28 March, 1893 at Skourahorian, Greece, the son of a sheepherder. Originally committed to studying for the priesthood, Skouras decided to emigrate to the United States with his two brothers, eventually settling in St Louis, Missouri. While working as a busboy there Skouras spent his nights studying English, business practices, accounting and law. In 1912, the three brothers pooled their money and purchased a rundown nickelodeon in a poor St Louis neighborhood. After turning around the theater's fortunes, the brothers built on their success by borrowing $150,000 to buy and refurbish the city's old Grand Central Theater. Eventually the Skouras brothers would go on to control a chain of 650 theaters across the United States. Skouras, along with his younger brother, George, joined the U.S. Army's Signal Corps during World War I. Demobilized after the war, they returned to St. Louis and their theater interests. The Skouras brothers sold their theater franchise in 1928 to Warner Brothers, which made Skouras and his younger brother George officers in the company. Charles Skouras went on to become president of National Theaters Inc. In 1931 Spyros Skouras left Warner's to work for Paramount and, the following year, was lured away to take over Fox Metropolitan Theaters in New York, which had been losing a million dollars a year. He was able save the franchise from bankruptcy and, by 1942, was in a position to take over the presidency of all of 20th Century-Fox. During his tenure as president, Skouras is credited with embracing the technologies of CinemaScope and stereophonic sound in an attempt to save the movie industry from the growing competition from television. By the early 1960s, mounting losses compounded by the 30 million over-budget production of Cleopatra (1963), led to Skouras being forced out of Fox's presidency and into what was then the figurehead position of chairman, which he retained until retiring in 1969 to devote more time to his shipping-line business, Prudential -Grace Lines. Skouras died of a heart-attack at his home in Mamaroneck, NY, on 16 August, 1971. He was survived by his wife of 51 years, the former Saroula Bruiglia, two daughters and two sons.