ICM Partners, which bought its freedom in 2012 from controlling investor Rizvi Traverse Management, has once again sold a stake in the agency. This time, they have a sold a minority one-third share in the agency to Crestview Partners, for approximately $150 million. CEO Chris Silbermann told Variety some of that money would be used to “reward” employees across the agency, along with buying out some current equity holders. The press release indicates that “all ICM Partners employees, including assistants and support staff, will benefit financially from the deal.” “It will also help fund acquisition of other agencies and related […]
Agency News
Briefs: Neon Literary, Bloomsbury’s China JV, and More
Agency News Anna Sproul-Latimer and Kent Wolf have joined to launch Neon Literary, with offices in New York and Washington, DC. Sproul-Latimer has been at the Yoon Ross Agency for almost 15 years, and Wolf has been at the Friedrich Agency. They say in their announcement “it was the eventual realization that their clients were intersecting–on social media, at events, and in writing groups–that signaled to the two agents that coming together made perfect sense.” “Neon Literary is on a mission to dismantle the Big Ideas Industry, smuggling money, power, and frontlist glory out to authors who might not have […]
People, Etc.: Folio Acquires Emma Sweeney Agency, and More
Folio Literary Management has acquired and will continue the business of Emma Sweeney Agency, effective January 2, 2019. Sweeney says in the announcement, “I’ve enjoyed a very rewarding 37 years in book publishing and am grateful for the life it’s given me, as well as the wonderful friendships. The decision to move on has been made easier knowing my clients will have the full support of Folio, an agency I have long admired, and where I’m sure ESA clients will feel at home.” Margaret Sutherland Brown will continue on with Folio working with Sweeney’s clients. Sweeney was an agent at Harold […]
Walsh Leaves Behind Agenting at WME to Focus On Events
William Morris Endeavor’s head of worldwide literary, lectures, and conference divisions Jennifer Rudolph Walsh is moving into a new role at the company, focusing on the live events business she built at the agency. Walsh does so as the annual TogetherLive event she co-founded with Glennon Doyle readies its annual tour, this year to 10 cities. Walsh “has decided to move on from her agenting responsibilities and focus on building her brand partnerships and live events platform,” which includes TogetherLive, Endeavor president Mark Shapiro wrote. She will “continue working with WME, advising our books and lectures divisions and the live […]
Endeavor Withdraws IPO, After First Reducing Pricing and Share Volume
By late Thursday Endeavor Group decided to withdraw their planned initial public offering of shares, set for Friday. The decision came after Peloton went public Thursday and saw its shares fall 11 percent from the opening price. Like Endeavor, Peloton loses money. The company said in their statement, “Endeavor will continue to evaluate the timing for the proposed offering as market conditions develop.” Facing tepid interest from public investors, Endeavor had already modified the IPO terms earlier in the day. They had lowered the expected share price to between $26 and $27 a share (down from $30 to $32 a […]
People, Etc.
Lara Jones has been promoted to associate editor at Emily Bestler Books. Megan Rudloff has been promoted to associate publicist at Atria. Conor Mintzer joins Holt as associate editor. He was most recently at Flatiron Books. Sylvie Carr has founded The Carr Agency. She was previously an agent at Fletcher & Company. Idea Architects has launched a new division called Idea Architects: True focused on “inspirational and compelling memoirs and true stories that have the power to change hearts and minds.” Author Lara Love Hardin will develop and represent the books for the new unit. Author Janet Evanovich is switching agents […]