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Mike Fleming-Junior
Sam Gores
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Mike Fleming-Junior
Sam Gores
Tough Talk In WME Partners Call As Agency Prepares For Prolonged Hard Times In Coronavirus Shutdown
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deadline.com
deadline.comBy Mike Fleming Jr Co-Editor-in-Chief, Film Beyond the bombshell Paradigm chief Sam Gores teleconference to temporarily laid off over 100 staffers, a WME Partners conference call today has put the members of that select group in a state of shock.
Essentially, those agents were told of an indefinite postponement of a windfall they expected to occur on April 5. Basically, the partners were set to be given the option to cash out 20% of their equity, calculated on a $3.6 billion valuation of the company.
That will be pushed down the road indefinitely and the partners were also told it is likely they will be asked to volunteer to take pay cuts until business rebounds.
Read more on deadline.com
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