Ch. 341The Big Six Media Conglomerates Take Shape
Aaron arranged financing for Dawn’s expansion after Toy Story’s success, while Michael Ovitz and Edgar Bronfman Jr. discussed Seagram’s entry into Hollywood as the Big Six media conglomerates took shape. Edgar decided to meet with François Gille about MGM.
- Aaron told Jessica Parker to reassure David Komansky that Merrill Lynch would underwrite Dawn’s public offering, and she reported that First Interstate Bank and Wells Fargo might issue up to 700 million US dollars in bonds.
- Aaron said he had instructed Tom Williams to negotiate with the Rank Organisation for half the shares in Orlando Universal Studios, while planning to restart Universal Studios Japan and expand Universal Music Group.
- Michael Ovitz told Edgar Bronfman Jr. that Kirk Kerkorian had returned to Los Angeles and shown interest in acquiring MGM/United Artists.
- Michael Ovitz explained how Aaron had dismantled MCA’s old structure, replaced its senior management, and moved Lew Wasserman to manage MCA Records.
- Michael Ovitz described Hollywood’s Big Six and suggested Seagram could acquire MGM, then expand into other businesses such as music.
- Edgar Bronfman Jr. asked Michael Ovitz to arrange a meeting with François Gille.