Word: caa
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Dates: during 1990-1999
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...billion) for nearly 40 years, Coca-Cola had taken the unprecedented step of seeking outside help for its new campaign, tapping Creative Artists Agency, the movie industry's top talent shop. To the ad industry's dismay, nearly all the new commercials introduced last week were produced by CAA. Even worse, they are terrific...
...bring in CAA? During McCann's long and successful partnership with Coca- Cola, the agency has scored with such popular notions as "Things Go Better with Coke" and "It's the Real Thing." But over the past few years, while Michael Jackson moonwalked and Ray Charles sang "Uh-huh" for archrival Pepsi, Coca-Cola Classic's advertising often seemed somewhat flat. Something had to give...
...Ovitz prospered by matching such talent with CAA screenwriters and peddling the stars and stories to studios. But assembling the elements for such hits as Ghostbusters and Rain Man only whetted Ovitz's appetite for even greater power packages. His first real taste of corporate matchmaking came last year when Sony, impressed by his unrivaled Hollywood contacts, tapped him as a consultant for its $3.4 billion acquisition of Columbia Pictures...
...after the Columbia deal, Matsushita sought out Ovitz to lead the company's search for a major acquisition. The Japanese company first sent a group of top executives to meet with Ovitz in Hawaii, where they talked about everything from world politics to prospective merger partners. A team of CAA experts then prepared a list three possible targets. The Japanese company rejected one studio, Orion, as too small. Another candidate, Paramount, was dismissed because some of its holdings, ranging from publishing (Simon & Schuster) to sports (the New York Knicks), didn't fit into Matsushita's strategy. Ovitz recommended MCA, which...
...shuttle diplomat between the two companies, anticipating problems before they could grow. When the merger was clinched, Ovitz joined the army of 100 dealmakers at Matsushita's law firm in Manhattan for a 9:15 a.m. champagne toast. For Ovitz's work on the merger, Matsushita could eventually pay CAA as much as $40 million. The sum aroused the green-eyed envy of deal-starved Wall Street firms, which suffered the indignity of watching a talent agent walk away with one of the biggest deals of the year...