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Studio executive and independent film producer Max E. Youngstein played a key role in saving United Artists from ruin. In 1951, he was one of five partners (Arthur Krim, Robert Benjamin, Arnold Picker, and Bill Heineman) who purchased the nearly bankrupt production and distribution company from co-founders Charles Chaplin and Mary Pickford. For the next 12 years, the charismatic Youngstein, who of the five had the greatest rapport with and understanding of Hollywood's entertainment industry, would supervise productions. He also founded and helmed United Artists Records and United Artists Music. With Youngstein's assistance, the company became a leading name in independent productions. In 1962, Youngstein left UA to found Max E. Youngstein Enterprises Inc. Films to emerge from his company include Fail Safe (1964) and Welcome to Hard Times (1967). He became the vice president of the Todd-AO-Corp. in 1972 and spent the rest of the decade working for several different production companies. Hoping to create a new launching pad for independent films, Youngstein and partner Cheryl Christiansen founded the Worldwide Artists production company. Youngstein passed away in his home the following year. He was 84.