The Price of Liberty

Of all the independent movie companies in the Hollywood pool, Liberty Films Inc. seemed most likely to become a big fish. It had three of Hollywood's top directors: Frank Capra (Mr.Deeds Goes to Town), a three-time Oscar winner; William Wyler, whose Best Years of Our Lives won nine Oscars last year; George Stevens (Penny Serenade) and Samuel Briskin, who was once Columbia Pictures production boss.

They formed Liberty because they wanted to have more freedom in making pictures than they could get from major studios. And by dissolving Liberty a few years hence, they would pay only...

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