Austin Furst, who founded Vestron Video, the pioneering home video company behind the Michael Jackson Thriller documentary and the film Dirty Dancing, died Wednesday, March 25, at his home in New Canaan, Connecticut, of complications from heart failure. He was 82.
His death was announced by his family.
After beginning his career in brand management at Procter & Gamble and becoming a lifetime shareholder, Furst spent 13 years at Time Inc., where he helped launch People magazine as Circulation Director and drove the early subscriber growth of HBO as Executive Vice President of Programming.
In 1981, when Time Inc. exited the movie business, Furst founded Vestron Video, recruiting a talented young executive team to create the pioneering home video company and scale it globally. Vestron distributed the seminal Making Michael Jackson’s Thriller documentary in 1983, went public on the New York Stock Exchange in 1985, and produced global blockbuster feature film Dirty Dancing in 1987.
Furst ultimately sold Vestron to LIVE Entertainment after financing constraints forced the company into bankruptcy. He then went on to launch Natural World, a direct sales company focused on natural and environmentally friendly consumer products. After relocating the business to Scottsdale, Arizona, he developed a strong interest in real estate, founding Furst Properties. He continued to oversee that office development and leasing company from his New Canaan office until just days before his passing.
Born Austin Owen Furst Jr. on August 31, 1943, in Harrisburg, Pennsylvania, Furst attended The Hill School in Pottstown and studied business at Lehigh University in Bethlehem.
He is survived by his wife of 60 years, Leslie Fitler Furst; daughters Elizabeth Furst Frank, Catherine Furst Weiss, and Susan Furst Knight; eight grandchildren; and brother, Stephen Furst.