OVITZ AMONG BIDDERS FOR CBS?
Published February 14, 1995
Hollyowood super-agent Michael Ovitz has reportedly "joined the growing throng of 'rumored' bidders" for CBS, according to DAILY VARIETY. Ovitz's Creative Artists Agency would join three Baby Bells in bidding for the network. This comes amid reports that CBS Broadcast Group President Howard Stringer may leave the network to "join the venture." However, an offer by Ovitz "could be blocked by federal laws restricting Baby Bells' ownership of entertainment programming." Media analyst Porter Bibb: "There is a lot of wishful thinking on Wall Street about bidding for CBS. Nobody is ready to move" (Baltimore SUN, 2/14).