UPDATE: That WMA/Endeavor Merger
FRIDAY AM: There’s been a lot of news coming in to me about the progress of a WMA/Endeavor merger. Some sources are saying there’ll be a WMA board meeting soon to discuss it. Others tell me that the tax consequences are looking difficult to overcome. It al has to do with LLC and “S” corporations, which greatly complicate things because it could involve writing checks in the millions of dollars to the U.S. government. And there could be a 3rd company involved as an investor and/or partner. (Hint: There was, at one point. And I’m not talking about ICM investor Rizvi Traverse whom Ari Emanuel invited for a meal at Toscana Thursday night.) But, recently, founding partners at Endeavor have been phoning clients to make sure they’ve signed their agency contracts. One screenwriter who has been there awhile was surprised that, 2 hours after a partner called, the contract was messengered to the writer’s office. Then again, that happened right before Broder merged with ICM. And also a few years ago when WMA was in the final stages to merge with United Talent in a deal that never closed.