NETWORK NEWS: OVITZ WON'T BE SINGING "WORKIN' FOR MCA"
Published June 6, 1995
Talks between Seagram's CEO Edgar Bronfman and CAA's Michael Ovitz regarding Ovitz heading up entertainment giant MCA for Seagram, have "fallen apart." According to CNBC's Ted David, Ovitz "disagreed with Seagram over compensation" (CNBC, 6/5). In addition to Time Warner co-CEO Terry Semel, Barry Diller's name has surfaced as a possible MCA head. Some speculate that Seagram "might join Mr. Diller in a bid for CBS" (Landro & Shapiro, WALL STREET JOURNAL, 6/6). Other names for MCA: Disney TV chief Rich Frank and MCA studio head Tom Pollock (David Lieberman, USA TODAY, 6/6). GE TURNS OUT LIGHTS ON NBC SALE: Jay Ireland, Manager of Corporate Investor Communications at General Electric, said last week that NBC is not for sale. But Ireland did reiterate that GE "is very interested in a partner for the network as long as GE maintained control" (VARIETY, 6/5). AD SALES HIT NEW HIGH: Entertainment, telecomm and high tech led the advertisers who spent a record of $5.5B on ads for the '95-96 season. Advance sales a year ago for ABC, NBC, CBS and Fox were $4.4B. Sony, Disney, AT&T and Microsoft were among the top buyers. One of the reasons cited: higher competition because of the expectation of Olympic-related ads (Melanie Wells, USA TODAY, 6/6).