Who Got PPP Loans? List Shows Hollywood Talent Agencies, Law Firms, AFI And Kanye West’s Clothing Brand Among Recipients Of COVID-19 Relief

By Ted Johnson, Dade Hayes

Hollywood
AFF-USA/Shutterstock

UPDATED: Hollywood talent agencies, law firms and production companies were among the recipients of loans under the Paycheck Protection Program, the massive program put in place by Congress to try to carry businesses and their employees through the COVID-19 crisis.

Among the recipients of seven-figure loans were talent agencies APA and Gersh, as well as law firms including Glaser, Weil; Mitchell, Silberberg & Knupp; and Greenberg, Glusker. Also receiving a loan was accounting firm Green Hasson & Janks.

A number of boutique entertainment law firms were on the list, including Felker, Toczek, Suddleson, Abramson;  Morris, Yorn, Barnes & Levine; Goodman, Genow, Schenkman, Smelkinson & Christopher; Lichter, Grossman, Nichols, Adler, Feldman & Clark; Schreck, Rose, Dapello, Adams, Berlin & Dunham; and Hirsch, Wallerstein, Hayum, Matlof, Fishman.

The list, disclosed Monday by the Small Business Association, shows that a cross-section of the entertainment industry drew on the funds as the mass shutdown halted production, closed movie theaters and Broadway and shuttered theme parks. Jim Gosnell, CEO of APA, said via email that the loan “was extremely helpful and much appreciated.”

Other recipients include the SAG-AFTRA Foundation, the Motion Picture & Television Fund, the American Film Institute and Common Sense Media.

Among production companies, recipients included Cinedigm, Ridley Scott’s RSA Films, the Jim Henson Co., Media Res Studio, New Regency Productions and World of Wonder.

Other loans went to Francis Ford Coppola Presents, his lifestyle brand, and Yeezy LLC, Kanye West’s apparel line.

The SBA’s PPP program was set up to provide loans to companies, non-profits and other organizations with up to 500 employees. Firms can have their loans forgiven if they retain their employee payrolls under a set of conditions.

Talent agencies have been particularly hard hit during the pandemic, leading to widespread layoffs and salary cuts. APA last week announced a series of reductions and furloughs, and Gersh instituted pay cuts in April. It was not immediately clear whether that will have an impact on the forgiveness of their loans, which generally extend to eight weeks. The PPP also sets a cap on salaries of $100,000.

Although there has been some controversy surrounding the program, as large chains like Ruth’s Chris Steakhouse and other entities like the Los Angeles Lakers have returned money as the original congressional allocation was quickly depleted.

But the program also has helped companies maintain their payrolls, as lawmakers sought a way to quickly implement a relief program as the coronavirus crisis forced massive closures during the nationwide lockdown.

The impact of COVID-19 has been devastating for the exhibition business, as evidenced by the number of smaller theater chains, including Regency Theatres and Laemmle Theatres, that have received loans. The largest chain, AMC Theatres, has warned that it could face bankruptcy. It is not eligible for the PPP program because of its size.

The Paycheck Protection Program was set up to provide $660 billion in loans since it started in April.

The SBA did not disclose specific loan amounts, but categorized recipients for the range of loans received. Here are the media and entertainment companies on the list:

$5 million-$10 million

Francis Ford Coppola Presents

Motion Picture And Television Fund

The Gersh Agency

BDG Media (Bustle Digital Group)
New York Public Radio
Roundabout Theatre Company
SeatGeek
Media Res Studio
Rock Paper Scissors LLC
Mitchell, Silberberg & Krupp

$2 million-$5 million 

Agency for the Performing Arts

Cinedigm

Circus Dog Productions

Cold Weather Productions

Common Sense Media

Digital Domain 3.0

Digital Media Management

Glaser Weil

Green Hasson Janks

Greenberg Glusker

RSA Films

Jim Henson Co.

American Film Institute

Solstice Studios

SIM Group

Dan Klores Communications
Fubo TV
Jazz at Lincoln Center
New York Shakespeare Festival
Park Pictures
The Skimm
Whistle Sports
Yeezy LLC
Hungry Heart Media
Public Media Group of California
Roundabout Entertainment
Peteski Productions (Dr. Phil)

$1 million-$2 million

Asylum Entertainment
Big Picture Entertainment
Center Theater Group
Golin Theaters
Halon Entertainment
Independent Studio Services
Metropolitan Theaters Corporation
Miller Barondess
Motion Picture Licensing Corporation
Raines Feldman
Screen International Security Services
Vista Entertainment Solutions
World of Wonder Production Processing
Western Costume
Media Matters for America
Media Research Center
Atlantic Theater Co.
Excel Sports Management
Film at Lincoln Center
Lucky 8 TV
Langley Productions
Little Flower Productions
New Regency Productions
Stage 29 Productions (Jay McGraw/Phil McGraw)

$350,000-$1 million

REO Speedwagon

SAG-AFTRA

World of Wonder Post Production

World of Wonder Productions

Campbell-Plaza Theatres Inc.

Galaxy Theatres LLC

Laemmle Theatres LLC

Regency Theatres LLC

Ralph Edwards-Stu Billett Productions

Remote Control Productions

Scout Productions

XG Productions

The Daily Caller

1 Iota Productions

495 Productions Holdings

Corday Productions

Seismic Productions

Felker, Toczek, Suddleson, Abramson

Morris, Yorn, Barnes & Levine

Goodman, Genow, Schenkman, Smelkinson & Christopher

Lichter, Grossman, Nichols, Adler, Feldman & Clark

Schreck, Rose, Dapello, Adams, Berlin & Dunham

$150,000-$350,000

Hirsch, Wallerstein, Hayum, Matlof, Fishman

 

This article was printed from https://deadline.com/2020/07/coronavirus-ppp-loans-hollywood-1202978502/