Ted Field

Last updated

Ted Field
Born
Frederick Woodruff Field

(1953-06-01) June 1, 1953 (age 66)
Residence Beverly Hills, Los Angeles
Known forAn heir to the Field family fortune
Net worth$1.2 billion
Spouse(s)Judy Field (first marriage), Barbara Field (second marriage), Susan Bari Bollman Field (third marriage)
Children8
Parent(s) Marshall Field IV and Katherine Woodruff Field (later Fanning)

Frederick Woodruff "Ted" Field (born June 1, 1953 [1] ) is an American media mogul, entrepreneur and film producer.

Contents

He is an heir to the Field family fortune. At $1.2 billion, Field is No. 236 on the Forbes list of the 400 richest people. [2]

Marshall Field American businessman

Marshall Field was an American entrepreneur and the founder of Marshall Field and Company, the Chicago-based department stores. His business was renowned for its then-exceptional level of quality and customer service.

Early life

Field was born on June 1, 1953 in Chicago, Cook County, Illinois, the son of Marshall Field IV, who owned the Chicago Sun-Times from 1956 to 1965, and Katherine Woodruff Fanning, who was later an editor of several newspapers. [3]

Cook County, Illinois County in Illinois, United States

Cook County is a county in the U.S. state of Illinois. It is the second-most populous county in the United States after Los Angeles County, California. As of 2017, the population was 5,211,263. Its county seat is Chicago, the largest city in Illinois and the third-most populous city in the United States. More than 40% of all residents of Illinois live in Cook County.

Marshall Field IV was the owner of the Chicago Sun-Times from 1956 to 1965.

<i>Chicago Sun-Times</i> newspaper

The Chicago Sun-Times is a daily newspaper published in Chicago, Illinois, United States. It is the flagship paper of the Sun-Times Media Group, with the 2nd biggest circulation in Chicago.

Field's parents divorced when he was young. Field's mother then married Larry Fanning, who became Field's stepfather. Field, his sisters, his mother and his stepfather moved to Anchorage, Alaska. Field's mother and Larry Fanning purchased the Anchorage Daily News from founder Norman C. Brown in 1967. Larry Fanning died in 1971: Kay Fanning continued to operate the paper until 1979 when she sold it to The McClatchy Company. She remained as publisher until 1983.

Anchorage, Alaska Consolidated city-borough in Alaska, United States

Anchorage is a unified home rule municipality in the U.S. state of Alaska, located in the West Coast of the United States. With an estimated 291,538 residents in 2018, it is Alaska's most populous city and contains more than 40 percent of the state's total population; among the 50 states, only New York has a higher percentage of residents who live in its most populous city. All together, the Anchorage metropolitan area, which combines Anchorage with the neighboring Matanuska-Susitna Borough, had a population of 399,148 in 2018, which accounts for more than half of the state's population. At 1,706 square miles (4,420 km2) of land area, the city is the fourth largest city by land in the United States and larger than the smallest state, Rhode Island, which is 1,212 square miles (3,140 km2) in area.

<i>Anchorage Daily News</i> daily newspaper

The Anchorage Daily News is a daily newspaper published by the Binkley Co., and based in Anchorage, Alaska. The paper was purchased by Alaska Dispatch on July 20, 2014 and was published as Alaska Dispatch News until November 18, 2017, when it was sold to the Binkley Co. It is the most widely read newspaper and news website (adn.com) in the state of Alaska.

Career

Field's Interscope Racing started off entering Danny Ongais in Formula 5000 in 1975, graduating to USAC racing and the Indianapolis 500 in Parnelli chassis. Field also funded Ongais to make occasional Formula One outings in a Penske during the 1978 season.

Danny Ongais American racecar driver

Danny Ongais is an American former racing driver.

Formula 5000 international motor racing format

Formula 5000 was an open wheel, single seater auto-racing formula that ran in different series in various regions around the world from 1968 to 1982. It was originally intended as a low-cost series aimed at open-wheel racing cars that no longer fit into any particular formula. The '5000' denomination comes from the maximum 5.0 litre engine capacity allowed in the cars, although many cars ran with smaller engines. Manufacturers included McLaren, Eagle, March, Lola, Lotus, Elfin, Matich and Chevron.

Indianapolis 500 Auto race held in Speedway, Indiana, United States

The Indianapolis 500-Mile Race is the world's oldest major automobile race. Better known as the Indy 500 or the Indianapolis 500, it is held annually at the Indianapolis Motor Speedway (IMS) in Speedway, Indiana, United States, an enclave suburb of Indianapolis, Indiana. The event is held over Memorial Day weekend in late May. It is contested as part of the IndyCar Series, the top level of American Championship Car racing, an open-wheel open-cockpit formula colloquially known as "Indy Car Racing". The name of the race is often shortened to Indy 500, and the track itself is nicknamed the "Brickyard", as the racing surfacing was paved in brick in the fall of 1909, with a yard of brick still remaining exposed at the start/finish line.

Field also backed the construction in 1980 of an Interscope chassis designed by Roman Slobodinskij for the Indianapolis 500. This was intended to take a turbocharged six-cylinder Porsche engine (similar to the one Ongais and Field were using in their Porsche 935) but a dispute with USAC over turbo boost meant the program was abandoned. The car was eventually fitted with a conventional Ford Cosworth DFX engine and entered in the 1981 500. Ongais led the race but crashed and was critically injured. In 1982 a recovered Ongias gave the car one last start at Indy but that too ended with an accident.

Porsche automotive brand manufacturing subsidiary of Volkswagen

Dr.-Ing. h.c. F. Porsche AG, usually shortened to Porsche AG, is a German automobile manufacturer specializing in high-performance sports cars, SUVs and sedans. Porsche AG is headquartered in Stuttgart, and is owned by Volkswagen AG, which is itself majority-owned by Porsche Automobil Holding SE. Porsche's current lineup includes the 718 Boxster/Cayman, 911, Panamera, Macan and Cayenne.

Porsche 935

The Porsche 935 was a race car developed and manufactured by German automaker Porsche. Introduced in 1976 as the factory racing version of the 911 (930) Turbo and prepared for FIA-Group 5 rules, it was an evolution of the Carrera RSR 2.1 turbo prototype, the second place overall finisher in the 1974 24 Hours of Le Mans.

Cosworth company

Cosworth is a British automotive engineering company founded in London in 1958, specialising in high-performance internal combustion engines, powertrain, and electronics; for automobile racing (motorsport) and mainstream automotive industries. Cosworth is based in Northampton, England, with American facilities in Indianapolis, Shelby Charter Township, Michigan and Mooresville, North Carolina.

In 1982, Field founded Interscope Communications, which produced more than 50 major films. In 1984, Field was a leader of a group that bought movie camera manufacturer Panavision. In 1987, Panavision was sold to Lee International. In 1990, he co-founded Interscope Records. After abruptly leaving Interscope in January 2001, he formed ARTISTdirect Records with the backing of BMG. Ted Field is currently chairman and CEO of Radar Pictures.

Field and Radar Pictures have faced legal action in recent years over allegations of fraudulent misconduct. [4] [5] [6] [7] In December 2016, Field and his company were ordered by a federal judge to assign profits from 11 films, including Sony's then-upcoming Jumanji: Welcome to the Jungle (2017), to producer Johnny Lin’s Filmula Entertainment, to satisfy a breach-of-contract judgment over the failed reboot of Trauma Records. [8] [9]

Personal life

From 1984 to 1998, he owned a mansion formerly owned by Howard B. Keck located at 1244 Moraga Drive in the gated community of Moraga Estates in Bel Air, California. [10] He currently resides in Beverly Hills, California.

In 2018, he is number four on California Franchise Tax Board's Top 500 Delinquent Taxpayers list, personally owing the state more than $20,607,010.86 in personal income tax. [11]

Filmography (producer)

See also

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References

  1. Ted Field on 24 Heures en Piste
  2. Forbes 400
  3. Film Reference
  4. Gardner, Eriq (January 11, 2017). "Movie Mogul Ted Field Set to Stand Trial for Fraud". The Hollywood Reporter .
  5. Baccellieri, Emma. "The NHL's Weird Superhero Project Is Still Finding Ways To Fail". Deadspin. Retrieved April 25, 2017.
  6. Gardner, Eric. "Hollywood Docket: Prince's Tidal Deal; Bob Marley Film Lawsuit; CBS Radio Win". The Hollywood Reporter. Retrieved April 25, 2017.
  7. Maddaus, Gene (March 24, 2017). "Failed NHL Superhero Franchise Leads to $500,000 Judgment Against Producer". Variety. Retrieved April 25, 2017.
  8. Patten, Dominic (January 6, 2017). "'Jumanji' EP Ordered To Pay Fees From Film To Creditor To Settle $2M Debt". Deadline Hollywood .
  9. Gardner, Eriq. "How the New 'Jumanji' Saved a Broke "Billionaire"". The Hollywood Reporter. Retrieved January 24, 2018.
  10. Los Angeles , August 1998, p. 38 Los Angeles (magazine)
  11. https://www.ftb.ca.gov/aboutFTB/Delinquent-Taxpayers.shtml