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June 05, 1995|Times Staff and Wire Reports

Seagram Not Expected to Make Ovitz Announcement Today: The company is expected to go ahead with its announcement that it has made final its purchase of 80% of MCA Inc. for $5.7 billion but was not planning to mention the status of MCA management. Sources said that Creative Artists Agency Chairman Michael S. Ovitz was still hedging over the weekend about taking the top spot at MCA--and which CAA agents to take with him--and also that other snags may be developing and that Ovitz is weighing other opportunities. Meanwhile, Newsweek, in its issue on the newsstands today, says in a cover story about Ovitz that he acknowledged to the magazine that he is negotiating with Seagram, contradicting what CAA has been saying publicly. The magazine also says that Seagram Co. Chief Executive Edgar Bronfman Jr. has complained privately that Ovitz has been asking for too much and that he has resisted moves by Ovitz to take CAA's consulting business to MCA.

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