Sherry Lansing is one of the most beloved and respected women in the entertainment industry thanks to her three decades at the top of the Hollywood food chain, first as the president of 20th Century Fox and later as CEO of Paramount Pictures.

And a new book about Lansing reveals just how she got the respect she deserved despite being the first and only female studio head for years, as well as the lengths she went to in order to keep her productions on track.

In the new biography Leading Lady, which will be released next Tuesday, Stephen Galloway of The Hollywood Reporter writes of an incident that occurred after Lansing learned that Mike Myers had based his script for the studio's highly anticipated Wayne's World sequel on a 1949 film without acquiring the rights.

With a rewrite of the script the only way forward if the studio was going to meet their scheduled release date, Lansing did not mince words when she called Myers into her office.

'She said, "How dare you? How dare you put us in this position?"' according to one individual present at the meeting.

'She turned to Mike and said, "We'll sue you. We'll take your f***ing house. You won’t even own a f***ing home."'

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Party time: A new biography about the life of Hollywood legend Sherry Lansing reveals that she threatened to take everything from Mike Myers over a script dispute (Lansing and Myers above in 1993 with Dana Carvey and an otherwise occupied Sharon Stone)

eXCELLENT: Lansing became enraged when she learned that Myers had based his script for Wayne's World 2 (ABOVE) on a film without optioning the rights

Bawdy Brits: Myers, who was 28 at the time (left), had used the 1949 British comedy 'Passport to Pimlico' (star Margaret Rutherford right) as the basis for the film

Lansing did not stop there either, going further to stress just how serious and grave a situation this was for her and the studio - and Myers' career.

'She made up this fabulous story about all of the lawyers sitting with [Paramount executive] Stanley Jaffe,' revealed John Goldwyn, the studio's production chief at the time.

'She said, "As I’m sitting here with you, there’s a team figuring out how they can take every single thing away from you."'

Lansing then closed out her ultimatum-laden pep talk with some very specific instructions for Myers, who by that point was so shaken that he had curled up in the fetal position on a couch in the office.

'If I were you, Mike, I'd go to Lorne's office right now and stay there until you come up with a new script. We'll slide food under the door,' Lansing told the 28-year-old actor, who thanks to the success of the first 'Wayne's World' and his time on 'Saturday Night Love' was on the brink of stardom.

The Lorne Lansing refers to is legendary 'SNL' creator Lorne Michaels, the man who has turned out more Hollywood stars than anyone else in the industry over the past 40 years.

In the book, Michaels also explains how this unfortunate misunderstanding came to be between the Canadian comedian and most powerful woman in the industry.

'Mike had always wanted to do "Passport to Pimlico" as the basis of Wayne's World,' explained Michaels.

'So he went and wrote it. I think he believed the studio understood that, and I think he even believed they had bought the rights to the other movie so that he was free to use it.'

'Pimlico' tells the tale of what happens after an undetonated bomb which was left over from World War II explodes and unearths a hidden cellar containing both a royal charter which states that the area belongs to the last Duke of Burgundy.

As a result, the London district of Pimlico becomes a part of Burgundy.

It was a popular film upon its release, and was nominated for a Best Screenplay Oscar.

Unfortunately for Myers, he was not free to use the film's post-war tale as a basis for his script about two Illinois rockers who record a public access show in a basement.

He did manage to write a new script and Wayne's World 2 was released as planned in December of 1993 to less than stellar reviews and underwhelming box office returns.

Myers never again worked with Lansing, or uttered the words.

Straight shooter: 'We'll sue you. We'll take your f***ing house. You won’t even own a f***ing home,' Lansing (above with Tom Cruise in 1993) told Myers

Like the Oscars: Wayne's World 2 opened to poor reviews and an underperformed at the box office, and Myers and Lansing never worked together again (Myers left in 1992 and right in 2007 at the MTV Movie Awards)

Lansing got her start as an actress before growing tired of the business and switching careers to become a script reader, a move that paid off big time when after working on hit films such as The China Syndrome and Kramer vs. Kramer she was named president of 20th Century Fox in 1980 at the age of 35.

She produced a number of hit films over the next decade and in 1992 was named head of Paramount Pictures' Motion Picture Group.

Lansing, 72, worked on some of the biggest films in Hollywood history during her two decades at Paramount including Forrest Gump, Titanic and Braveheart.

She also worked with some of the biggest names, and in the new book opens up about drug testing Angelina Jolie, defending both Tom Cruise and Mel Gibson, and reveals how her own breakup inspired her to produce her first big hit film, 'Fatal Attraction.'

The book is based on four years of research and hundreds of hours of interviews with her and some 200 others.

In an interview with The Hollywood Reporter earlier this month, Lansing was asked about working with Cruise and their lifelong friendship.

'I've known Tom since [since the 1981 film] Taps. I knew his family. He was at that time one of the most gifted actors — you could see right away. He's one of the kindest, most decent people I've ever worked with,' said Lansing.

Leading Lady hits bookshelves April 25

She was then asked about his faith, and her feelings about Scientology.

'I know he's a Scientologist, but I never saw him do anything that made anybody uncomfortable. I think everyone is entitled to their belief system,' explained Lansing.

In the book there is a passage about Cruise getting angry with Paramount president John Goldwyn having made negative comments about Scientology in his divorce filing when he split with wife Colleen Camp.

Cruise apparently demanded a meeting with Lansing and Goldwyn, and she recalls how the actor said to the producer: 'Why have you treated me so disrespectfully? Why have you said such bad things about my faith?'

Goldwyn, whose brother is famed actor Tony Goldwyn, went on to marry famed hotelier Jeffrey Michael Klein.

Lansing was also quick to praise Mel Gibson, and his films, in her interview with the magazine, despite his anti-Semitic comments and physical threats against women.

'I loved Hacksaw Ridge. Mel is very hardworking, very much understands the problems of the studio system,' said Lansing.

'I have only had positive experiences with him. In my experience, he has never been homophobic or anti-Semitic.

One of her biggest successes was the release of 'Tomb Raider,' but Lansing reveals it was a difficult sell getting Angelina Jolie on board because of her admitted history of drug abuse.

Lansing said she was warned about her fragile state and ways by both Jolie's father Jon Voight and close family friend Jane Fonda, but was reassured after the actress told director Simon West: 'Look, I want to do it, but I know what my reputation is, and I'll do anything you want to prove that I'm worthy. I'll be reliable, and I'll turn up, and I'll work hard.'

Jolie then added: 'I don't care if the studio wants to drug test me every day.'

The actress passed the tests, which were done by drawing blood and not from urine.

'She was beyond beautiful,' said Lansing of the actress, who would soon after win the Academy Award for 'Girl, Interrupted.'

'She was smart, she was strong.'

Revelation: Angelina Jolie agreed to daily drug tests in order to secure her role in 'Tomb Raider' according to a new biography of Sherry Lansing (Lansing and Jolie above at the Tomb Raider premiere in 2001)

Long list: Barbara Hershey, Isabelle Adjani, Debra Winger, Susan Sarandon, Michelle Pfeiffer, Melanie Griffith and Jessica Lange were considered for Fatal Attraction (Glenn Close and Michael Douglas above)

Lansing was all those things too, but felt anything but at one point in the early 80s after being dumped by a boyfriend.

She could not even get out of bed for two days when he told her 'I don't love you' and walked out the door.

The name of the person is not given, but it did occur around the same time she was dating Wayne Rogers.

'No matter what she had accomplished, it seemed like nothing compared to his love. And for the next few weeks, this woman who had been a pioneer in her field, who had risen to the summit of the most competitive industry in the world, kept circling his house deep into the night, searching for evidence of the thing she dreaded: another woman's presence,' reads Lansing's biography.

'She would call him at all hours, only to hang up as soon as he answered the phone. Her emotions were in turmoil, her life seemed unhinged.'

Lansing later said: 'I felt he took part of me with him.'

That is why she felt so close to 'Fatal Attraction,' which was originally written as a short film called 'Diversion.'

And after years of fighting over the cast and crew of the film she finally got it made, and earned her first Oscar nomination when in 1988 it was nominated for Best Picture.

It also earned nods for Best Actress and Best Supporting Actress for Glenn Close and Anne Archer but not one for Michael Douglas.

It was all good however for Douglas, who won the Best Actor Oscar that year for his other release, Wall Street.

Close meanwhile got the part after the studio considered a number of other stars.

Barbara Hershey, Isabelle Adjani, Debra Winger, Susan Sarandon, Michelle Pfeiffer, Melanie Griffith and Jessica Lange were all considered or turned the role.

Kirstie Alley also auditioned, and provided a recording of a stalker who had followed and phoned her husband Parker Stevenson that ended up being used in the film verbatim.

In the end though it was Close who landed the role. And while the list of potential stars is impressive, now one else could have played the now iconic character of Alex Forrest.