COMPANY TOWN ANNEX

CAA’s Ovitz in Talks With Baby Bells: Hollywood super-agent Michael Ovitz is in talks with Pacific Telesis, Bell Atlantic and Nynex to create a joint venture to bring movies and other programming to homes, according to sources. With its extensive Hollywood contacts, Ovitz’s Creative Artists Agency would help the big regional phone companies obtain rights to entertainment programming. CAA is also expected to act as the group’s investment banker, finding companies the Baby Bells can invest in, a source said. Industry observers say they saw it as inevitable that the Baby Bells would find their way to Ovitz’s door, given his clout, as they rush to compete with cable companies in delivering entertainment.