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In February 1975, during his engagement in Las Vegas, Presley met with Barbra Streisand and Jon Peters They discussed the possibility of Presley co-starring with Streisand in a remake of the film A Star is Born.
Seeing it as a chance to finally be taken seriously as an actor, Presley agreed to take the role if the contracts could be worked out.
According to Presley's friend, Jerry Schilling, Presley was excited about the opportunity to take on a new challenge.
Streisand's production company, First Artists, offered Presley $ 500, 000 and 10 % of the profits.
Parker, who had always dealt with Presley's film contracts and viewed the offer as a starting bid, asked for $ 1 million, 50 % of the profits, $ 100, 000 for expenses, and spoke of needing to arrange details of a soundtrack deal.
First Artists, unused to such huge demands, didn't put forward a counteroffer and decided instead to offer the role to Kris Kristofferson.
Parker later claimed that Presley had asked him to make the contract so demanding so that they would not offer him the part, although many of Presley's friends have said he was furious at losing the role.

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