COMPANY TOWN

Advertising: Neither Walt Disney Co. nor Coca-Cola Co. would comment on speculation that Coca-Cola considering shifting its advertising account for Coke Classic away from Creative Artists Agency, possibly to Disney. Former CAA Chairman Michael S. Ovitz, who formed the relationship between CAA and Coke, recently joined Disney as the company’s president. Rumors have been circulating that executives who worked on the account, including Shelly Hochron, a former TriStar executive, may jump to Disney as well. A USA Today report said the Coke account may follow Ovitz to Disney. Sources close to CAA confirmed that there have been discussions about shifting the account but added that it is unclear whether Coke would want to do so.

* Film: Orion Pictures reported that it lost $9.1 million in its second quarter ended Aug. 31 on revenue of $31.2 million. A year earlier, the company lost $16.3 million on revenue of $29.5 million. Meanwhile, Orion stockholders are scheduled to vote Nov. 1 on a proposal to merge Orion, Actava Group, Metromedia International Telecommunications and MCEG Sterling, to be renamed Metromedia International Group. Orion is controlled by billionaire John Kluge.