OVITZ AND OUT AT DISNEY

GIVEN FEW OF MICKEY'S ASSETS TO RUN, MICHAEL NO. 2 ENDS A TURBULENT TENURE AS THE COMPANY'S PRESIDENT

As they sat together at an opulent wedding reception that financier Marvin Davis was throwing for his daughter at his Beverly Hills home on Dec. 7, Michael Eisner and Michael Ovitz, the ranking executives at the Walt Disney Co., apparently came to the conclusion that their own corporate union must be dissolved.

Just a week later, one of the more stunning reversals of fortune (even for Hollywood) was announced, following a frenzy of speculation that transfixed both coasts. Ovitz, the former superagent once routinely described as "the most powerful man in Hollywood," was out as president of Disney after a brief...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!