Endeavor Group has once again filed registration documents with the SEC for an initial public offering of shares in their hodgepodge of debt-laden assets. The filing comes after the company abandoned their previous IPO at the last minute in September 2019. Tepid interest and a weak market for IPOs at the time led them to…
Agency News
Former Foundry Agents Lament Continuing Issues
Authors waiting for overdue royalty payments from Foundry Literary have been watching anxiously for news that the agency has secured new bank accounts after City National Bank served notice that it intended to close Foundry’s accounts at the end of February. An author reports they have been told by two people with direct knowledge of…
Multiple Authors Dropped Agent Brooks Sherman, Who Says He Will “Take A Step Back” from Publishing
Over the past two weeks at least a dozen authors once represented by literary agent Brooks Sherman indicated online that they no longer work with him, some noting they exited that relationship a while ago. Some cited “ongoing communications issues” and other “business dealings,” while others made their declarations “vague” by intention or referred broadly…
McGuigan and Gendell Report “Significant Progress” On Managing Client Funds
On Tuesday, an attorney for literary agent Yfat Reiss Gendell wrote to the judge overseeing former partner Peter McGuigan’s motion asking for a court appointed receiver for the bank accounts of their former agency, Foundry Literary, requesting an adjournment until mid-March. “The parties have made significant progress,” the attorney reports. “They have identified an independent…
McGuigan Sues Former Partner Gendell, Alleging “Criminal Embezzlement” of Funds
On Thursday, literary agent Peter McGuigan filed suit on behalf of himself and the literary agency Foundry in New York Supreme Court against former business partner Yfat Reiss Gendell, charging breach of contract, conversion of funds, intentional fraud and fraudulent conveyance, negligent misrepresentation, and more. Alleging “criminal embezzlement,” the suit says that Gendell illegally transferred…
People: Richman to Co-Lead Media Rights at UTA, Trimmer to Head MTV Books Relaunch
UTA has promoted book-to-film agent Jason Richman to co-lead its Media Rights Group, alongside Keya Khayatian. Richman has been at UTA since 2010. The agency says that the department has closed over 250 deals in the past year, licensing literary properties for film and TV. Separately, Christian Trimmer will lead a relaunch of MTV Books….