Word: mca
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...them is virtually a sure thing: for sending out a $1,400 print of Last Jurassic Action Park, studios get $1 from every ticket sold. Manufacturing and shipping CDs, a business that employs tens of thousands of people, is similarly dull and profitable. Still, the moguls aren't Luddites. MCA Music chairman Al Teller, for instance, says MCA will have its own one-at-a-time CD-system prototype 18 months from now. And Sid Ganis, president of marketing and distribution for Sony's Columbia Pictures, can hardly afford to be anti-high-tech. "At Sony the grand plan...
...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 price, according to a knowledgeable source, Credit Lyonnais will probably pay him north of $30 million. Plus, as long as he has his main talent-peddling business going strong, Ovitz can very profitably cherry-pick in the secondary realms. He can create an ad campaign here and arrange a corporate acquisition there...
...Ovitz and his agency increasingly forge alliances that cross conventional boundaries, the sense of a quasi-monopolistic old-boy lock on the industry becomes greater. Ovitz worked for Matsushita in its acquisition of MCA, and he also negotiated pay packages with the Japanese on behalf of the MCA executives -- with whom he now regularly strikes deals for his filmmaker clients. CAA represented Stanley Jaffe and Sherry Lansing when they worked together until a few years ago as independent producers; now they run Paramount, against whom CAA continually negotiates deals. CAA is also a regular bargainer with 20th Century Fox, which...
...eminent New York investment banker Felix Rohatyn, who is Credit Lyonnais's official banker and represented MCA in the Matsushita deal, thinks his friend Ovitz may be getting perilously close to unavoidable conflicts of interest. "If Michael is involved both in the restructuring of the entertainment companies that Credit Lyonnais has an investment in -- by - bringing in talent, by directing their entertainment strategy, by helping them get television product or motion picture product -- and at the same time provides financial advice as to what to do with these companies, then he's probably going to be walking a very fine...
HOLLYWOOD, THAT HOTBED OF LIBERALISM, HAS VOICED PLENty of humane sentiment over the plight of inner-city Los Angeles residents since last year's riots. But at least three major studios -- Disney, Universal and Fox -- do not recognize MARTIN LUTHER KING DAY. Says a spokesman for MCA, the parent company of Universal: "This corporation has made the decision that Martin Luther King Day is not a holiday...