For Hollywood Talent Managers, Outside Investors Bring Issues of Control

July 31, 2019Media Mention
The Hollywood Reporter

Much has been made about the impact of deep-pocketed investors on Hollywood's talent agencies. Endeavor, CAA and UTA all have taken on majority or substantial stakeholders, and Endeavor is seeking to go public. But management, another key component of the talent community, also is being reshaped by outside money, and with the influx of cash comes issues of control and direction.

"The truth is, there are no management companies anymore. They're all production companies," says veteran attorney Schuyler Moore. "The same consolidation is going on throughout the film industry, the same control issues."

As for Yorn, sources say Burkle wants to combine LBI with two other representation companies he backs: the U.K.-based Independent Talent Group, with clients including Daniel Craig and Felicity Jones, and Independent Sports & Entertainment, with a roster that includes baseball stars Miguel Cabrera and Justin Verlander.