ICM gripped with discontent and anxiety as the CAA acquisition decision approaches

The steady stream of agents who have left ICM Partners over the past nine months has turned into a change this past week, with dozens of representatives reaching out to other agencies and management firms as they ponder their future before the Justice Department. decide on ICM. . Purchase proposed by CAA.

Following the merger decision, expected in the coming weeks, the possibility of ICM staff moving to AAC became a reality, so the invitations to join the combined agency came after months of suggestions and a heartbeat of eyelash. While it is not possible to make a hiring / firing decision while the regulatory approval process is underway, at this point everyone knows where they are. Staff reductions are an inevitable by-product of any merger, and due to procedural delays, several ICM agents have already left for other jobs before the deal was completed, either because they had decided to relocate or because they knew or feared they didn’t. done. chose to go to CAA OR both.

The departures list of major agents who have already gone elsewhere includes Jeff Barry, Dan Beyme, John Burnham, Josh Ramie, Matt Sorger, April King, Ariel Meislin, Adam Ginwissian, Natalie Didier, Christina Bazdekis, Denise Draper, JR Ringer, Kevin Haas, Zack Carlisle, Brett Passy, ​​Seth Lawrence and Will Kircher.

There are plenty of other agents now in the game, as well as under different circumstances – some weren’t invited, others opted for a fresh start rather than moving to another large agency, and some weren’t happy with the offer they received. . Most of the agents who have indicated their departure from the ICM are already planning their next career transfer, while some are close to admission elsewhere. The list includes Daniel Cohan, Chris Von Gotz, Katie Cates, Andrew Rogers, Joan Wells, Kyle Jagger, James Robbins Earl, Jessica Lace and Chris Smith.

Quotes that have caused ICM great dissatisfaction are described as “take it or leave it with no room for negotiation and questioning”. According to sources, many of the transactions include salary cuts or salaries that agents are currently taking in ICM, not cash to make deals with partners, but actions that cannot be executed immediately and the contract term is less than a year. One person points out that the wage drop of the major players will be largely offset by the title, with the hope that the increase in AAC EBIDA that will lead to the acquisition of ICM will lead to an IPO in the coming years. However, most agents are No. Happy with the suggestions.

As I understand it, much of the hidden anger is directed at ICM CEO Chris Silberman, who arranged a merger with CAA Brian Lorde. According to sources, senior agents feel taken aback because there have been no significant consultations or communications from management on the future of the deal. In part this is due to the intense scrutiny the deal has received from the Department of Justice, given the size and position of the two Big 4 agencies in the market.

In accordance with the separate business management guidelines, there was very little interaction between the AAC and ICM agents during the lengthy review process, which created uncertainty and a lot of anxiety, which contributed to some of the decisions I made. understood.

Also, as the ICM is an acquired entity, it will have to adapt to the needs of AAC and I understand that some agents have been asked to switch sides which created resistance and provided some scope. Because AAC can select the resources it wants, several departments, including branded entertainment and music, will be disproportionately affected as a significant number of agents do not transition.

Late approval also played a role, as the agent’s continued departure created a ripple effect. As described by one person, when agents leave, gaps are created in customer coverage, which in turn can cause customers to leave or their primary agents to move to another company to keep them. .

While most of the people I spoke to were frustrated and some even outraged by the situation, several current and former ICM staff members commended the agency management’s efforts, especially in some departments, to make the transition as smooth as possible. .

There are factors that alleviate the conflict, including the fact that two joint agencies are trying to combine two different compensation structures. CAA compensation is based on a lower base salary and larger bonuses, while MCAs weigh more on the base salary.

Of course, this is just a prelude to the much more difficult task of uniting cultures, which will be one of the first challenges the United Nations will face if the merger is approved. If not, ICM will be left to rebuild a company whose roster and morale have taken a hit in the past nine months since Deadline revealed an unexpected acquisition.