It's Hollywood history in the making! William Morris and Endeavor, two of the leading entertainment agencies, reached a historic agreement today and finalized a merger.
The new agency, which will be called William Morris Endeavor (WME) Entertainment, will attempt to shift leverage from movie studios and record labels back to artists, actors, writers and directors.
The leadership team for the new agency will be Jim Wiatt, Chairman, and Ariel Emanuel, Patrick Whitesell and Dave Wirtschafter, Co-CEOs.
While the new company will have a revenue estimated at about $250-$300 million a year, layoffs are still expected. In fact, over a 100 people are expected to lose their job.
The new powerhouse will bring together some of the most respected in motion pictures, television, music, theatre, publishing, commercials, sports, marketing and below-the-line production.