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And, like a proud father, Smith, 55, is not only beaming over the movie’s success but over the chance he took on two young Princeton graduates--Andrew Kosove and Broderick Johnson--who presented the Fed Ex chief with a 220-page business plan for launching a movie company.Indeed, Smith’s decision to back Kosove and Johnson in Alcon mirrors his own legendary story as an entrepreneur.“I had an affinity for them because I was an entrepreneur exactly they way they are,” Smith said.Bonnier acts as a “data controller” for the purposes of the EU’s General Data Protection Regulation.
More puzzling is why the Memphis tycoon--one of the nation’s legendary entrepreneurs--would plunge into the risky business of making movies.“I’ve asked myself that a couple of times over the last little while,” chuckled Smith, who’s rarely spoken about his behind-the-scenes dabbling in the movie business and who swears his name will never appear in the screen credits.
But, last week, Alcon Entertainment, the little-known film company that Smith has been quietly bankrolling for the past few years, signed a five-year, 10-picture distribution deal with Warner Bros.
Can a guy who delivers 5 million packages a day deliver a few hit movies too?
It’s something Fred Smith, the near-billionaire founder of the Federal Express empire, is betting a chunk of his personal fortune will happen.
“We made and lost some money, but overall, it turned out all right,” Smith said.