The "$64 million question in Hollywood these days is who
is financing MICHAEL OVITZ's ever-expanding entertainment
operation," which now includes sports representation (See THE
DAILY, 9/24), according to Eller & Hofmeister of the L.A.
TIMES, who reported that RONALD BURKLE, Ovitz's partner in
the failed bid to bring an NFL team to L.A., is "a key
investor in most of Ovitz's new entertainment ventures."
Eller & Hofmeister: "One reason Hollywood is curious is
because Ovitz has quickly amassed a huge overhead in a series
of businesses that seemingly have no immediate prospects for
generating returns." Ovitz said, "I don't need financing,"
but he acknowledged he is "still putting his financing
together" and is in the "middle of delicate conversations."
Ovitz has launched a talent management firm, Artists
Management Group (AMG), a TV group, an Internet business and
formed separate music, sports and comedy representation
units. The "idea is for these groups to cross-fertilize."
AMG's PETE SAMPRAS "might be a guest on a new sports talk
show" that the TV group is developing (L.A. TIMES, 11/16).
