Goldcrest Films is a British film production company founded by Jake Eberts in January 1977. It enjoyed great success in the 1980s with films such as Local Hero (1983), The Killing Fields (1984) and Hope and Glory (1987) mostly produced by David Puttnam on modest budgets. The company also benefited from the new investment of Channel 4 in film production. The company won two Academy Awards for Best Picture, for Chariots of Fire in 1981 and Gandhi in 1982. After these initial successes the company backed more expensive productions with established Hollywood stars that often ran over schedule and budget culminating in Revolution, The Mission (1986) and Absolute Beginners that all turned out to be box office flops.