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In When Hollywood Had a King, the distinguished journalist Connie Bruck tells the sweeping story of MCA and its brilliant leader, a man who transformed the entertainment industry-- businessman, politician, tactician, and visionary Lew Wasserman.

The Music Corporation of America was founded in Chicago in 1924 by Dr. Jules Stein, an ophthalmologist with a gift for booking bands. Twelve years later, Stein moved his operations west to Beverly Hills and hired Lew Wasserman. From his meager beginnings as a movie-theater usher in Cleveland, Wasserman ultimately ascended to the post of...

During the 1980s, Michael Milken at Drexel Burnham Lambert was the Billionaire Junk Bond King. He invented such things as "the highly confident letter" (I'm highly confident that I can raise the money you need to buy company X) and "the blind pool" (Here's a billion dollars: let us help you buy a company), and he financed the biggest corporate raiders--men like Carl Icahn and Ronald Perelman.

And then, on September 7, 1988, things changed. The Securities and Exchange Commission charged Milken and Drexel Burnham Lambert with insider trading and stock fraud. Waiting in the wings was the US...