The toga lady holds her torch high for film audiences everywhere by representing Columbia Pictures, the studio through which Sony Pictures Entertainment produces its big budget movies. The studio was founded in 1924, and in 1982 it was purchased by Coca-Cola. Sony purchased Columbia from Coke in 1989 for $3.4 billion. The deal was the largest acquisition by a Japanese firm up to that time, and initially caused headaches for Sony due to losses from elaborate spending budgets and box office duds (
). In recent years Columbia Pictures has scored hits with its Spider-Man franchise, as well as comedies such as
. It operates as part of Sony Picture's Columbia TriStar Motion Picture Group.
Parent company Columbia TriStar Motion Picture Group (CTMPG) encompasses Columbia Pictures, TriStar Pictures, Sony Pictures Classics, and Sony Pictures International.
Internationally, motion picture operations include Columbia Pictures Film Production Asia (Hong Kong), Columbia Films Producciones Espanolas (Madrid), Columbia Pictures Producciones Mexico (Mexico City) and additional operations in the UK, Brazil, and Japan.