Saturday, March 17, 2007

Return to Treasure Island

A front-page story in today's WSJ on Hillary and Obama raising big money in Hollywood.

Here in Hollywood, where glitz is treated as a tangible asset, alliances, friendships and family ties are being tested as local bigwigs scramble to burnish their credentials as political power brokers. Amid a fund-raising frenzy, producers, billionaires and activists are elbowing each other to recruit donors -- sometimes on behalf of the same candidate. The race here has its own version of a debate over housing: Who has the better mansion?

The entertainment industry is one of the biggest sources of political donations and is also one of the few that tilts heavily Democratic. For now, Messrs. Geffen and Katzenberg, whose DreamWorks studio made hits such as "Gladiator" and "American Beauty," are Mr. Obama's de facto team captains in the movie industry. Their longtime political consultant once worked with another political wunderkind, Gary Hart.

Haim Saban, an Egyptian-born billionaire who made his fortune in children's television, notably the "Mighty Morphin Power Rangers," has pledged to raise $1 million for Mrs. Clinton this year. He's vying for top billing with supermarket mogul Ronald Burkle and movie financier Stephen Bing, an investor in Warner Bros.'s "The Polar Express."


Return to Treasure Island

Hollywood's moguls compete to raise cash for Democratic candidates. Whose house is better?
March 17, 2007; Page A1

Los Angeles

In the bedroom of movie producer and Democratic fund-raiser Mike Medavoy and his wife Irena, the couple have installed two televisions in case her new favorite, Sen. Barack Obama, is on one channel, and Sen. Hillary Clinton, a longtime favorite of his, is on another. Across town, cable-TV pioneer and Clinton fund-raiser Marc Nathanson was surprised to learn he was competing with another Clinton backer for his own son's contribution. And producer Steven Spielberg, after co-sponsoring an Obama fund-raiser with two former partners -- David Geffen and Jeffrey Katzenberg -- is now planning a Clinton gala. Messrs. Geffen and Katzenberg won't be helping.


Post a Comment

<< Home