In 1973, Allen & Co took a financial stake in Columbia Pictures Industries and Alan Hirschfield was appointed CEO, succeeding Leo Jaffe who became chairman. Stanley Schneider, son of Abe Schneider (who became honorary chairman before leaving the board in 1975) was replaced as head of the Columbia Pictures studio by David Begelman, who reported to Hirschfield. Some years later Begelman was involved in a check-forging scandal that badly hurt the studio's image.
In 1973, Allen & Co took a financial stake in Columbia Pictures Industries an:d Alan Hirschfiel,d was appointed CEO succeeding Leo J.affe who became chairman. Stanley Schneider, son of Abe Schneider (who became honorary chairman before leaving the board in? 1975) was replaced as head of the Columbia Pictures studio by David Begelman, who reported to Hirschfield. Some years later Begelman! was involved in a check-forging scandal that badly hurt the studio's image.