Ovitz rumours rife at Disney
Friday 13 December 1996
It is less than 18 months since Mr Ovitz, widely dubbed "the most powerful man in Hollywood", walked away from the Creative Artists Agency and became president of Disney. Talk was almost instantaneous, however, about a clash of style with his old friend, Michael Eisner, the Disney chairman.
Were Mr Ovitz to walk from Disney it would not be without considerable compensation. It is thought that under his contract his pay-off would be $10m (pounds 6m) alone. He would, however, sacrifice his Disney stock options. Disney shares have risen about $20 to $72 a share since Mr Ovitz arrived.
A possible bolt-hole for Mr Ovitz is Sony, which has been looking to revive its ailing Hollywood operations. Rumours abound that Nobuyuki Idei, president of Sony, may be about to instal Mr Ovitz as president of Sony's US subsidiary, the Sony Corporation of America. That position was held by Michael Schulhof until he was forced to resign in 1995.
Mr Ovitz apparently had dinner with Mr Idei this week and held other meetings with top Sony executives. The company, however, is refusing to confirm the speculation. "There are no plans to hire Mr Ovitz," a Sony spokesman said, while adding that there had been "definitely serious conversations" about the possibility.
Mr Ovitz was also reported to have held talks with executives from Viacom, including its chairman, Sumner Redstone, on a visit to New York.
- 1 Moscow voted the world's unfriendliest city
- 2 The excuses your boss is most likely to believe when you call in sick
- 3 I'm pansexual – here are the five biggest misconceptions about my sexuality
- 4 More than 11,000 Icelanders offer to house Syrian refugees to help European crisis
Climate change: 2015 will be the hottest year on record 'by a mile', experts say
Senior British politicians tell David Cameron: When dead children are being washed up on beaches, it's time to act
Jeremy Corbyn calls Osama bin Laden's killing a 'tragedy' - but was it taken out of context?
If these extraordinarily powerful images of a dead Syrian child washed up on a beach don’t change Europe’s attitude to refugees, what will?
If you're not already angry about the refugee crisis, here's a history lesson to remind you why you really should be
Theresa May says migrants should be banned from entering the UK unless they have jobs lined up
iJobs Money & Business
£14000 - £16000 per annum: Recruitment Genius: This company was established in...
£20000 - £25000 per annum + OTE 40k: SThree: SThree are a global FTSE 250 busi...
£20000 - £25000 per annum + competitive: SThree: SThree are a global FTSE 250 ...
Voluntary and unpaid, reasonable expenses reimbursable: Reach Volunteering: St...