Rudolph Valentino
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Valentino returned to the United States in reply to an offer from Ritz-Carlton Pictures (working through Famous Players), which included $7,500 a week, creative control, and filming in New York. Rambova negotiated a two-picture deal with Famous Players and four pictures for Ritz-Carlton. He accepted, turning down an offer to film an Italian production of Quo Vadis in Italy.

The first film under the new contract was Monsieur Beaucaire, wherein Valentino played the lead, the Duke of Chartres. The film did poorly and American audiences found it "effeminate". The failure of the film, under Rambova's control, is often seen as proof of her controlling nature and later caused her to be barred from Valentino sets. Valentino made one final movie for Famous Players. In 1924, he starred in A Sainted Devil, now one of his lost films. It had lavish costumes, but apparently a weak story. It opened to strong sales, but soon dropped off in attendance and ended up as another disappointment.

With his contract fulfilled, Valentino was released from Famous Players, but was still obligated to Ritz-Carlton for four films. His next film was a pet project titled The Hooded Falcon. The production was beset with problems from the start, beginning with the script written by June Mathis. The Valentinos were dissatisfied with Mathis's version and requested that it be rewritten. Mathis took it as a great insult and did not speak to Valentino for almost two years. While Rambova worked designing costumes and rewriting the script for Falcon, Valentino was persuaded to film Cobra with Nita Naldi. He agreed only on condition that it not be released until after The Hooded Falcon debuted.

After filming Cobra, the cast of The Hooded Falcon sailed for France to be fitted for costumes. After three months, they returned to the United States, where Valentino's new beard, which he had grown for the film, caused a sensation. "I opened once a paper and I tell you what was in. It was Rudolph Valentino with a beard upon his chin. My heart stopped off from beating and I fainted dead away, and I never want to come to life until the judgement day," was soon printed in Photoplay. The cast and crew left for Hollywood to begin preparations for the film, but much of the budget was taken up during preproduction. Due to the Valentinos' lavish spending on costumes and sets, Ritz-Carlton terminated the deal with the couple, effectively ending Valentino's contract with them.
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