Mike Ovitz and Ron Burkle Settle Massive Lawsuits Over Mysterious "Online Ventures"

Legendary CAA co-founder Mike Ovitz and supermarket magnate Ron Burkle recently settled  dueling lawsuits over whether the two agreed to pool money from online business ventures. But one question remains: What online ventures?
AP via LA Times: Ex-Walt Disney Co. president and Hollywood power broker Michael Ovitz settled a multimillion-dollar lawsuit involving online business opportunities filed against billionaire supermarket mogul Ronald W. Burkle, an attorney said.

A resolution was reached last weekend, Eric M. George, who represents Ovitz, said Thursday. He declined to reveal terms…The legal dispute began when Burkle sued Ovitz in 2005 claiming the co-founder of Creative Artists Agency broke a verbal agreement made in the 1990s to pool their money on online ventures.

A federal judge dismissed Burkle’s suit in March, saying the agreement was too vague to enforce and the men never had a formal partnership.

In his countersuit, Ovitz denied having a verbal agreement. However, if a jury were to find there was a deal, Ovitz asserted, Burkle broke it by excluding him from numerous deals.

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