Changes & Growing Pains for ICM
Though the Wall Street Journal’s article on International Creative Management, one of the oldest surviving talent agencies, focuses mostly on their film and television properties, it is worth noting that when private-equity firm Rizvi Traverse Management LLC bought a controlling stake in the company a year ago, they began cost-cutting measures that may well extend into the ICM’s literary arm. Can a private equity money manager inspire financial prudence in an industry known for lavish parties and extravagant spending? Time will, as always, tell…
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