The WGA told the Security and Exchange Commission on Monday that Endeavor’s IPO registration last month inaccurately reported its client numbers
“Endeavor’s talent representation segment, including William Morris Endeavor, is a core component of its business,” the guild said in a statement. “Before April 13, WME represented numerous film and television writers belonging to the WGA. Since that date, however, 1,400 WGA writers have terminated their relationships with the agency.
In a letter sent today to William Hinman, director of the SEC’s Division of Corporation Finance, the WGA states: “In the draft Form S-1 Registration Statement submitted to the SEC on February 14, 2019, Endeavor reports representing the same ‘over 6,000 clients’ reflected on its May 23 statement. But between these two dates, approximately 23% of this stated client base informed Endeavor that the agency no longer represents them for employment under WGA’s collective bargaining agreement.
On April 12, the WGA ordered all of its members to fire their agents who refuse to sign its new Agency Code of Conduct, which bans packaging fees and agency affiliations with corporately related production entities. At last count, more than 7,000 WGA members have fired their agents. Last week, the guild said it had reached an impasse in its negotiations with the Association of Talent Agents, saying it will try to reach agreements with individual agencies instead.
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