
Why Paradigm Is Unlikely to Survive as a Standalone Agency Post-Pandemic
“A merger between what’s left of Paradigm and APA is the likely outcome,” one top agent tells TheWrap
“A merger between what’s left of Paradigm and APA is the likely outcome,” one top agent tells TheWrap
“This agreement is a win for all parties and a vital step on the restructuring path we embarked upon more than a year ago,” CEO Sam Gores says
No new cuts were made at the talent agency
Music-centric talent agency continues to struggle financially amid the concert business shutdown
Paradigm also retains Warner Bros. vet Bruce Rosenblum as an adviser on growth and investment opportunities
Gores recently backed down from a plan to cut music agent pay by 50%
“It’s a f—ing war zone,” one insider tells TheWrap
Last week, Klein filed a suit accusing CEO Sam Gores of breach of oral contract and whistleblower retaliation, among other things
Company has secured “interim financing that will provide a bridge through this global crisis,” Gores says in email
“Both Paradigm and Mr. Gores expect to be 100 percent vindicated,” the agency’s outside counsel Dale Kinsella said
Debbee Klein accuses Gores of using “Paradigm’s expense account as a slush fund to pay for his sexual dalliances with prostitutes”
More than 100 staffers among 600 employees were temporarily let go on Friday
Payroll will also be reduced for those who remain at the company
“We are not for sale, nor are we selling the agency,” Gores says in email to employees
Exec previously served as EVP of strategic marketing for Warner Records