Following Alex Hayes's compelling meeting with Oliver Stone, the ball was officially in the court of their respective representatives. A high-stakes meeting was convened at CAA's spacious offices, bringing together the key players who would decide the fate of Platoon. On one side sat Michael Ovitz and Paula Wagner, representing Alex Hayes. On the other, representing Hemdale Film Corporation, were its co-founder David Hemmings and Chairman John Daly, alongside Eric Pleskow, the President and CEO of Orion Pictures, who were co-producing and distributing the film.
David Hemmings was a multi-hyphenate, an English actor, director, and producer. He had co-founded Hemdale Film Corporation in London in 1967 with John Daly. Initially a talent agency, Hemdale quickly diversified into film production and distribution. While Hemmings had largely stepped away from the day-to-day operations of Hemdale in 1971, with John Daly taking the reins as Chairman and President, his legacy as a co-founder and his continued presence in the industry meant he was still a significant figure in such high-level discussions. By 1980, Hemdale had relocated to Hollywood, focusing heavily on film production, and had secured a significant distribution deal with Orion Pictures.
John Daly, the driving force behind Hemdale by 1985, was a British film producer known for his independent spirit and keen eye for commercial potential. Under his leadership, Hemdale had produced or financed over 80 films, including the recent genre hit The Terminator (1984), which had proven that the independent company could deliver critically acclaimed and commercially successful pictures. Daly, alongside Hemmings, was keenly aware of the uphill battle Platoon faced given its dark subject matter and Oliver Stone's previous directorial flops, but they also recognized the immense value Alex Hayes could bring.
Eric Pleskow, as the President and CEO of Orion Pictures, was a veteran of the industry, having co-founded Orion in 1978 after leaving United Artists. Orion had established itself as a producer and distributor of critically acclaimed films, though not always massive box office successes. Pleskow understood the prestige and potential commercial upside of attaching a star of Alex's caliber to Platoon.
The meeting began with pleasantries, but the underlying tension was palpable. Hemmings, Daly, and Pleskow expressed their enthusiasm about Alex's interest in Platoon. "We're absolutely thrilled that Alex is considering this project," John Daly stated, a genuine smile on his face. "His attachment would bring a level of attention and credibility that a film like Platoon desperately needs."
However, when the discussion turned to Alex's compensation, a significant divergence of opinion emerged. Michael Ovitz, leading the negotiation for CAA, laid out their initial proposal. "Given Alex's established box office power and his unique ability to draw audiences, particularly the crucial youth demographic, we are proposing a deal for seventeen percent of the film's domestic box office gross."
Daly and Hemmings exchanged a glance, their expressions tightening. Eric Pleskow's brow furrowed. "Seventeen percent of domestic, Michael?" Daly responded, his tone cautious. "While we deeply value Alex's talent and appeal, Platoon is a dark, sensitive, and emotionally challenging film. It's not a lighthearted comedy or a typical action blockbuster. If it doesn't become a massive hit, which is a significant risk given the subject matter, a percentage like that could prove problematic." Hemmings added, "Furthermore, Alex is not a producer on this film, nor did he write the script. For his previous films where he received fifteen percent, he was actively involved in their development or held a producing credit."
The room fell into a tense silence. The producers' faces hardened, clearly finding the 17% domestic offer too steep for such a risky project, while Ovitz, typically unyielding, showed no sign of budging from Alex's perceived market value. A clear deadlock had been reached. This was the moment for Paula Wagner to intervene.
She stepped in smoothly, her voice calm and confident. "Gentlemen, you're absolutely right about the film's challenging nature. But you just agreed that Alex brings immense value and exposure to this film, didn't you?"
Hemmings, Daly, and Pleskow all nodded, albeit reluctantly. It was an undeniable truth. Alex's name alone would attract more attention and help secure distribution and financing far beyond what a raw, independent war film typically could.
"Exactly," Paula pressed, her voice gaining momentum. "So, let's consider a creative solution that aligns everyone's interests and demonstrates Alex's faith in the project." She leaned forward, presenting a bold, alternative proposal.
Ovitz, who had been listening intently but with a fixed expression, visibly stiffened, a flicker of surprise crossing his face as he realized this was a new offer that Paula had not discussed with him.
"Alex will take seven percent of the worldwide box office, instead of domestic box office, if the film grosses less than eighty million dollars. However, for every ten million dollars the film makes above that eighty million threshold, Alex will take an additional one percent, capping his total percentage at twenty percent."
Eric Pleskow interrupted, holding up a hand. "Wait a minute, Paula. So, what you're suggesting is less than eighty million and Alex gets seven percent? But if it crosses eighty million, it's eight percent?"
Paula nodded, clarifying smoothly, "Precisely. So, eighty million worldwide would be eight percent, ninety million would be nine percent, and so on."
Hemmings, Daly, and Pleskow looked at each other, the implications of the sliding scale sinking in.
It looked like an incredibly generous offer on the surface, especially given Alex's track record. If Platoon only managed, say, $100 million worldwide, Alex would take just ten percent, which amounted to $10 million—significantly less than his industry price, especially compared to Catch Me If You Can, which was still playing in theaters and had just crossed $150 million domestically, making Alex $15 million due to his 10% domestic box office share. He may even get $16 million if the movie crossed $160 million, which it certainly would given its strong theatrical run.
However, for Alex to hit the full twenty percent on 'Platoon', the film would need to gross an astronomical $200 million worldwide. This was an exceptionally high bar for a war film, particularly one with such a grim outlook.
The highest-grossing war film to date, Apocalypse Now (1979), had achieved a worldwide gross of over $100 million (approximately $105 million in its original run). While a critically acclaimed masterpiece, it highlighted the commercial limitations of the genre. Reaching $200 million seemed a distant, perhaps impossible, dream for Platoon, even with Alex Hayes. The producers quickly did the math, seeing the potential upside for themselves if the film performed moderately, and the perceived low risk of Alex's percentage ballooning to its cap.
After a tense, whispered discussion amongst themselves, John Daly finally spoke. "Alright, Paula. We agree to those terms."
As Ovitz and Paula left the meeting room, walking down the plush carpeted hallway, Ovitz turned to Paula, a questioning look on his face, his voice low and tight with frustration. "You completely blindsided me, Paula! And that offer... seven percent starting point? That's incredibly low! It's way below Alex's value, and given the subject matter, Platoon might not even be a big hit!"
Paula shrugged, a faint, knowing smile playing on her lips. "This offer, Michael, it was actually Alex's suggestion, not mine."
Ovitz stopped dead in the hallway, staring at her, a mixture of disbelief and grudging admiration in his eyes. "He suggested it? Is he that confident?"
Paula merely continued walking, her confident stride echoing her words. "You said it yourself, Michael. Until he encounters a failure, just follow his whims. That's precisely what I did."
Ovitz sighed, running a hand over his face. "I don't know whether I should wish that he fail at least once, just to prove he's human."
"But Michael," Paula said, her voice dropping conspiratorially as they rounded a corner, "imagine if he is successful. Imagine if Platoon somehow manages to hit that full twenty percent cap of the film."
Ovitz's eyes squinted, his mind immediately doing the calculation. Twenty percent of $200 million... that would be $40 million. The biggest paycheck an actor had ever received, by far. He exhaled sharply, shaking his head as if waking from a dream.
"Paula," he finally said, a genuine, hopeful smile now spreading across his face, "I really hope now that he succeeds."