Word: lyonnaise
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A. I didn't call them. Credit Lyonnais called us. They want to learn more about films, television and music. CAA represents many of the top people in those fields.
And now, in a move that has whipped up an uncharacteristically public feud in Hollywood, Ovitz has gone one, possibly crucial step further: he has been retained by Credit Lyonnais, the French bank that took over MGM/United Artists in a foreclosure last year, to straighten out its bad-news, $3.4...
But the simplest reason for all the extracurricular work may be the strongest: Hollywood remains in a deep recession, and the agency will earn more from one Matsushita-MCA deal than a whole lifetime of 10% fees from Kevin Costner. If Ovitz is able to unload MGM at a decent...
Among those whom Ovitz's arrangement with Credit Lyonnais took by surprise was Alan Ladd Jr., the chairman of the bank's MGM studio. "By the time the bank told me about the deal," Ladd says, "it was a fait accompli." He seems tentative about the whole thing. "I don...
Guy Dufour, a director of the Credit Lyonnais, dismisses the fears of Ovitz's critics who fret about conflicts of interest. Ovitz will meet with the bankers often, maybe monthly, but Dufour says Ovitz will wield no operational power over the studio. "Absolutely not. False -- completely wrong," he says. "MGM...