William Morris Agency and Endeavor Agency LLC announced plans to merge Monday in a bid to become a powerhouse Hollywood talent agency to rival top competitor, Creative Artists Agency.
The success of the new agency, to be called William Morris Endeavor Entertainment, may hinge on the ability of top executives like Ari Emanuel, the uber dealmaker made famous by his fictional counterpart, Ari Gold, in HBO’s Entourage, to move beyond past rivalries.
If approved by state regulators, William Morris Endeavor Entertainment would become the second largest talent agency in Hollywood after Creative Artists. It would be run by three co-CEOs: Emanuel and Patrick Whitesell from Endeavor, and Dave Wirtschafter from William Morris Agency. The company’s chairman would be James Wiatt, also from WMA.
Emanuel and Wiatt would work together for the first time since 1995, when Emanuel famously left International Creative Management, taking his clients and several agents with him. Emanuel went on to co-found Endeavor, with David Greenblatt, Tom Strickler, and Richard Rosen.
At the time, Wiatt was the head of ICM. He later migrated to William Morris Agency where he became chief executive.
In the merged agency, Wiatt would work directly with two of Endeavor’s co-founders - Emanuel and Rosen. Strickler announced he plans to leave the industry. David Greenblatt left Endeavor in 2004.
The merger of WMA and Endeavor is expected to take place in a few weeks, pending approval from labor officials in California and New York, according to Variety.
Endeavor will have four board members on the board of directors of William Morris Endeavor Entertainment, while the William Morris Agency will have five.
Both Endeavor and WMA bring distinct strengths to the new company.
Endeavor boasts many A-list actors and top agents, including Sacha Baron Cohen, Javier Bardem, Reese Witherspoon, and Robert DeNiro. WMA is known for their strong international presence, profitable music and touring department, and steady revenue from TV shows.
A WMA veteran told Variety, “William Morris is cash-rich; Endeavor is client-rich. They need each other.”
Downsizing resulting from the merger will most likely happen within the William Morris Agency, which currently has about 800 employees, while Endeavor has fewer than 250.
Click here to sign up for the Muckety Newsletter
0 Comments
There are no comments yet, be the first by filling in the form below.
Leave a Comment