August 14, 1995
NYNEX CONTACT: Media Relations,
Howard Stringer's Statement on Michael Ovitz's Move to Disney
LOS ANGELES -- The following was released today by
CAA and Michael Ovitz have played a number of crucial roles in the
development of TELE-TV. CAA brought Bell Atlantic, NYNEX, and Pacific Telesis
together; it facilitated the hiring of key executives; and, it helped design
TELE-TV's strategic plan. As a result, TELE-TV is a solid, stable organization
which is the video spearhead for its parent companies. TELE-TV is on schedule to
begin active entry into the marketplace next year, with Wireless Digital
Television offering a unique, early-entry strategy with superior quality as its
With respect to Michael Ovitz's move to Disney: Like every other business,
there are continuing shifts in alliances and business relationships. We began to
consider a change in our relationship with Michael Ovitz and CAA during the MCA
discussions and will, of course, be reviewing our relationship with CAA.
However, it's important to recognize that the pool of talent runs deep at CAA.
While his departure is a great disappointment, we are not looking to
disassociate ourselves from people who have been extremely valuable to us.
NYNEX is a global communications and media company that provides
a full range of services in the northeastern United States and
high-growth markets around the world, including the United Kingdom,
Thailand, Gibraltar, Greece, Indonesia, the Philippines, Poland,
Slovakia and the Czech Republic.
The Corporation is a leader in the telecommunications, wireless communications,
cable television, directory publishing
and entertainment and information services.
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