American International Pictures (AIP)

American International Pictures (AIP) was an independent film production and distribution company formed on April 2, 1954 as American Releasing Corporation (ARC) by James H. Nicholson, former Sales Manager of Realart Pictures Inc., and Samuel Z. Arkoff, an entertainment lawyer. In 1972, James H. Nicholson resigned from AIP to set up his own production company working out of 20th Century Fox, called Academy Pictures Corporation. In 1979, AIP was sold to Filmways for $30 million and became a subsidiary production unit thereof, renamed Filmways Pictures in 1980. Arkoff was unhappy with the direction of the company and resigned to set up his own production company.