Word: ovitz
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...McNair was oilman-frank about how he brought the NFL back to Houston ?- by going "higher than any reasonable person would go" with a negotiations-ending $700 million bid for a franchise. "We knew we differentiated ourselves," he said. Result? Two groups (one led by Hollywood power broker Mike Ovitz) that wanted to bring a team back to oft-abandoned Los Angeles are going home unhappy. And the price of a sports team ? which these days comes with the additional cost of the kind of snazzy stadium that McNair is promising in Houston ?- has just been bid further up into...
...second act has been a deluge of litigation. Following his ouster, Drabinsky was sued in Canada by Livent's new managers, including Furman and Hollywood honcho Michael Ovitz, who had taken control of the company in June. Then came a criminal indictment in U.S. federal court and fraud charges by the Securities and Exchange Commission, alleging that Drabinsky fiddled with the books to disguise Livent's precarious financial condition. He's been accused of hiding expenses, of misleading auditors and devising a kickback scheme that funneled more than $5 million to him and his longtime partner Myron Gottlieb...
...soon, however. Eisner knows he faces an angry board of directors, and angry shareholders, if Katzenberg wins too much in this suit, especially in the wake of the debacle of paying Katzenberg's successor Michael Ovitz in excess of $100 million to leave after only 14 months in the job. The case has ripped open Disney's accounting books--much to the delight of merchandisers, who can now check their cut against the "real" books. Add to that Disney's other financial woes, with second-quarter earnings down 41%. Wall Street still rates the company a buy, which must...
...Actress Minnie Driver trapped in elevator, rescued by former uber-agent Mike Ovitz...
This all might seem like a schoolyard squabble (He's mine! No, he's mine!), but there are bigger stakes involved. Ovitz, once Hollywood's most powerful agent, is trying to cobble together a one-stop "virtual studio" for stars--effectively usurping the roles of agent, manager and studio chief. Round 1 is building the talent bank: Ovitz first captured two of young Hollywood's brightest stars, Leonardo DiCaprio and Cameron Diaz, by bringing over their managers, Rick Yorn and his sister-in-law Julie Silverman Yorn. Ovitz then started going after CAA's list of bankable celebs...