After months of negotiations, two powerful entertainment agencies, William Morris and Endeavor, announced they will merge into one company today. The new agency will be known as William Morris Endeavor (WME) Entertainment. The announcement came shortly after the leadership at both talent agencies approved the historic deal, which requires government approval.
The Hollywood Reporter says this is “the largest combination of two existing agencies in Hollywood history.” Variety described WME Entertainment as a powerhouse, that “… promises to change the landscape for the talent rep biz.” WME Entertainment is expected to pull in annual revenues in the $300 million range, according to The Hollywood Reporter.
Right now, William Morris has around 300 agents and Endeavor about 80. In the weeks to come, layoffs and other departures are expected as the new company takes shape.
WME Entertainment will be guided by Jim Wiatt as chairman, Ariel Emanuel, Patrick Whitesell, and Dave Wirtschafter as co-CEOs, according to a statement posted on Nikki Finke’s Deadline Hollywood Daily.
Finke has more details on her site along with a ton of back story on the deal as well.