Vajna launched his career in the entertainment industry with his purchase of motion picture theatres in the Far East . He founded Panasia Films Limited in Hong Kong , a highly profitable venture in the distribution , acquisition and representation of films . After Vajna negotiated the sales of Panasia to Raymond Chow 's Golden Harvest Company in 1976 , and met Mario Kassar at the 1975 Cannes Film Festival , he and the film producer and industry executive formed Carolco , specializing in sales , financing and distribution of films worldwide . Vajna and Kassar had rented a small office in Melrose Avenue where their desks faced each other in the office and Vajna 's wife and Kassar 's girlfriend were their secretaries . In less than four years , Carolco became one of the top three foreign sales organizations in motion pictures industry
1975 Cannes Film Festival
1975 Cannes Film Festival
Andrew G. Vajna