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What does $250 million buy these days? Lots of things, but not Michael Ovitz. That wad was not enough for Seagram's CEO Edgar Bronfman Jr. to lure Ovitz from Creative Artists Agency, the talent shop he built into Hollywood's prime power brokerage, to become chairman of MCA, the show-biz conglomerate (movies, music, TV shows, theme parks) that Seagram's purchased last week. Thus ended the hottest nonevent since Comet Kohoutek. Except that this one had bigger stars ready to collide. And the meteor showers may be felt for years...
Michael Ovitz isn't going anywhere. Negotiations for the Creative Artists Agency chairman to head MCA collapsed as Seagram completed its $5.7 billion purchase of 80% of the entertainment giant. Disputes between Ovitz and Seagram ceo Edgar Bronfman Jr. over executive autonomy and a compensation package worth more than $200 million are speculated to have caused the impasse...
...their shares. Under the plan, investors would receive one share in each of the three new companies for every share they now own. "We are convinced that this action will increase immediately and over time the value of the investment of ITT's shareholders," said company chairman and CEO Rand Araskog. On Wall Street, the share price for the American conglomerate rose $6.25 to close...
...lesbianism, other men, sex, drugs," says Eliot. "It's got everything everyone wants, and it's real." And Little, Brown, which paid O.J. Simpson $1 million to pull together some self-serving letters into I Want to Tell You (650,000 printed), points the finger elsewhere. Says Little, Brown ceo Charles E. Hayward: "Of the total dollars generated by this trial, if you stacked up magazines, newspapers, television and radio, my guess is books would come in a distant last." And this, in the end, is the same argument parents have traditionally found so hard to counter: all the other...
...attempt to profit from murder and mayhem, says Oliver Stone. It's a send-up of the way the tabloid press exploits violence-a claim that would be a lot more convincing if Stone would contribute to charity the multimillion dollar profits the movie earned last year. Time Warner CEO Gerald Levin, whose company produced Natural Born Killers and has put out much of the most offensive music, says that rappers like Ice-T are misunderstood: when Ice-T chants "Die, die, die, pig, die," he is not really advocating cop killing, but trying to put us in touch with...