Word: ovitz
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...celebrated personalities of the year came and went and blurred into one another. Boris Yeltsin became Ted Kaczynski became Princess Di became all three doing the macarena. While one faintly struggled to discern Rene Russo from Sandra Bullock and Michael Eisner from Michael Ovitz, Madonna singled herself out by producing a child. Setting a high financial standard for single motherhood, she exulted, "This is the greatest miracle of my life"--a cry not generally echoed in parts of the country where 48% of the children were born to single mothers. Rosie O'Donnell threw her a baby shower, her pediatrician...
MOUSE WHO SOURED AWARD: Michael Ovitz, who, tired of being the eighth dwarf, left the Magic Kingdom...
...Ovitz won't walk away empty-handed. His severance package could reach $90 million if he gets to exercise all the stock options in his contract. Disney sources discounted that figure, implying that the exit deal was cut closer to $30 million...
...that Ovitz, co-founder of powerful Creative Artists Agency, would find himself out of his depth. Over the years, he had built a reputation as a shrewd, tough, almost omniscient leader. Besides representing an enviable list of major clients--Tom Cruise, Robert DeNiro, Dustin Hoffman, Warren Beatty--he ranged far beyond the traditional agent's role. He played a part in brokering Sony's acquisition of Columbia Pictures in 1989 and shepherded Matsushita into its purchase of MCA the following year--deals that soured for the buyers. In 1994 he engaged in highly publicized negotiations to take...
...very day that former Creative Artists Agency shogun Michael Ovitz was falling on his ears at Disney, his old outfit was literally rolling out the red carpet for a key element of its strategy to rule tomorrow's Tinseltown. Last Thursday marked the unveiling of the CAA/Intel Media Lab, CAA's bid for a thick slice of the growing PC-software pie and the strongest indicator to date that Hollywood and Silicon Valley's marriage of convenience might turn into true love after all. "We are all, like it or not, surfers on that growing [high-tech] wave," CAA president...