Movie mogul Wasserman dead at 89

LOS ANGELES, California (CNN) -- Hollywood movie mogul Lew R. Wasserman died Monday of complications following a stroke last month. He was 89.

Wasserman, chairman emeritus of Universal Studios, suffered a stroke May 17, a spokesperson for Vivendi Universal Entertainment said.

In his heyday, he ruled one of Hollywood's great empires.

In 1936, as a 22 year old, Wasserman joined MCA in Cleveland, Ohio. Ten years later he became chairman of MCA, where he learned the art of compromise and used it to his benefit, according to his biography, "The Last Mogul."

CNN NewsPass VIDEO Hollywood movie mogul Lew R. Wasserman died at the age of 89 of complications following a stroke last month. CNN's Paul Vercammen reports (June 4) Play video   Lou Wasserman --Brokered Ronald Reagan's unprecedented seven-year, million dollar deal with Warner Bros. --Was offered Cabinet posts in Johnson and Carter administrations --Organized Universal Studios tour in 1964 --Awarded the Presidential Medal of Freedom in 1995 Source: CNN/AP/Reuters

"He knew how to find what both parties in a deal wanted and then gave it to them ... and still kept 10 percent for himself," said Dennis McDougal, author of the biography. "Because he was an agent, and that's what agents were all about."

Wasserman represented stars such as actor Jimmy Stewart and director Alfred Hitchcock.

In 1945, Wasserman brokered Ronald Reagan's unprecedented seven-year, $1 million deal with Warner Brothers.

When MCA bought Universal in 1962, Wasserman -- as chairman of MCA Universal -- ruled over Universal Studios, Universal Pictures, real estate holdings and record labels.

Reagan's later success in public office extended Wasserman's influence into California politics, and eventually to Washington.

"Lew Wasserman would call senators, particularly in those states in which Hollywood and the movie industry are important," McDougal said. "[He] could pick up and call the president. And by and large those calls would be answered."

Wasserman had clout with Republicans, but was a major contributor to the Democratic Party.

Presidents Johnson and Carter sought his advice. Wasserman raised money for President Clinton.

Tom Cruise, Nicole Kidman and Kirk Douglas were among those who attended star-studded political fund-raisers at the home Wasserman shared with his wife, Edie.

In 1973, Wasserman moved up to chairman of the board of MCA. Along with Sidney Scheinberg, who was MCA's president, he gambled on a young, unknown director named Steven Spielberg. Nine years before, Spielberg had worked as a volunteer gofer at Universal during summer vacation.

In 1974, Spielberg's "Jaws" became the highest-grossing feature film of its time.

Bruce Dern, who starred in Universal's highly regarded 1971 science-fiction film "Silent Running," recalls him fondly.

"He probably was the kindest, most sympathetic impresario I ever met in my life, and studio executive," Dern said in a recent interview.

The television shows "Ironside" and "Miami Vice" were also developed during Wasserman's reign at Universal. Wasserman retired from the company in 1996 after a 60-year run.

His influence on Hollywood's current power brokers is legendary.

"His successors in terms of deal-making are names who are readily apparent to us, like Barry Diller and Michael Eisner and Michael Ovitz," McDougal said.

"These are all people who will openly acknowledge their debt to Lew Wasserman as the pre-eminent deal maker of all time."