| Michael Ovitz |
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Ovitz began his career at the . While at CAA , he was responsible for pioneering the practice of "packaging" writers, directors, and actors for motion pictures. This practice led to CAA and its clients holding significant negotiating leverage over the major studios. Ovitz is also well-known for negotiating . In 1995, he resigned from CAA to become president of the Walt Disney Company under chairman Michael Eisner . Fourteen months after taking office, he was dismissed by Disney's board of directors and received $38 million in cash and $100 million in stocks as a severance package. This setback, along with the failure of his subsequent venture, the Artists Management Group , led him to claim that his downfall had been engineered by a Hollywood Cabal he referred to as the " Gay Mafia ". Today, Ovitz is a private investor who continues to informally advise the careers of luminaries such as Martin Scorsese , David Letterman and Tom Clancy . He is also a passionate Basketball Fan . EXTERNAL LINKS
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