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Current DateTime: 10:19:42 23 Nov 2009
LinksList Documentid: 31765984
Expiration DateTime: 11/23/2009 10:21:04 PM
    • Looking Left  23 Nov 2009

        CNBC's Julia Boorstin looks at the weekend's box office and Twilight's gigantic "New Moon" opening. She also discusses California's looming unemployment insurance crisis and a waiting list for pro football in Los Angeles.

    • Microsoft-Murdoch Scheme  23 Nov 2009

        Microsoft is reportedly talking to News Corp about teaming up on a search plan that would withhold content, including the Wall Street Journal, from Google, with Matthew Garrahan, Financial Times correspondent, and CNBC's Julia Boorstin & Bill Griffeth.

    • Inside Paramount Pictures  20 Nov 2009

        Discussing Viacom's Paramount Pictures strategy, with CNBC's Julia Boorstin and Brad Grey, Paramount Pictures.

    • Oprah Show to End in 2011  19 Nov 2009

        CNBC's Julia Boorstin has the details on Oprah Winfrey's decision not to renew her contract with CBS syndication.

    • Kids and Finances  13 Nov 2009

        A look at some of the stories of several inner city teens trying to become the business leaders of tomorrow, with CNBC's Julia Boorstin.

    • Iger Talks Earnings  13 Nov 2009

        Highlights from her interview with Disney's chief Bob Iger, with CNBC's Julia Boorstin.

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Current DateTime: 10:19:43 23 Nov 2009
LinksList Documentid: 31625651

Media Money

Text Size
Apr.27
10:47 PM ET
Monday, 27 Apr 2009
Endeavor and the William Morris Agency Merge

After months of talk and much speculation, Monday evening Endeavor and William Morris Agency announced that they will merge, creating William Morris Endeavor (WME) Entertainment.

Hollywood Sign
Gary Minnaert
Hollywood Sign

This combination is a testament to the need for economies of scale and greater negotiating power with the media giants, who are squeezing paychecks as they cope with the recession and a shifting industry. Together the two agencies will represent top talent not just in movies, TV and theater, but also publishing, sports, and corporate marketing. (See my commentary from earlier today)

The two very different agencies today voted yes on the merger, which is expected to close sometime this quarter. Right now, Endeavor's top brass are over at William Morris' Beverly Hills headquarters meeting their new colleagues. Endeavor's Ari Emanuel and Patrick Whitesell, and William Morris' Dave Wirtschafter will be co-CEOs, while William Morris' chief Jim Wiatt will act as Chairman. And yes, Emanuel is White House Chief of Staff Rahm Emanuel's brother.

The new agency poses a new threat to Creative Artists Agency, the industry behemoth. But we're also sure to see CAA and some of the other smaller agencies use this as an opportunity to poach clients.

Sources tell me that some CAA agents are calling around town, asking which writers and actors represented by William Morris or Endeavor are ripe for plucking, those rising stars or established ones who'd be open to a move.

We'll see if CAA, whose leader Richard Lovett has always focused on increasing market share, can grow his business during the transition.

Check out:

I heard through the grapevine that CAA partner Bryan Lourd recently entertained a group of high-powered Hollywood execs and stars in Palm Springs with a glamorous dinner at the Neutra House (The Kaufman Desert House)

Endeavor clients Edward Norton and "Capote" director Bennett Miller were among those at the dinner. Miller has since left Endeavor for CAA.Questions?  Comments? 

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