Chapter 409: Chapter 409: The Establishment of WME
In a luxurious villa on the Gold Coast of East Hampton, Long Island, New York, Charles Capet was accompanying his mother Evelyn Capet for a photoshoot for Vanity Fair magazine.
Hollywood's two largest talent agencies, ETA and WMA, were finally merging to form a new talent agency.
Charles smiled and sat on the sofa, looking at his mother. He said, "You have researched International Management Group (IMG), right? Currently, the largest sports agency in the United States!"
International Management Group (IMG) was established in the sixties by Mark McCormack and began with golf players.
"Now the boss of IMG is Teddy Forstmann. After Mark McCormack passed away in the millennium, his family sold the agency to the Wall Street mogul Teddy Forstmann," Evelyn said while sipping champagne. "IMG has been on the path of capital expansion these past few years!"
"Teddy Forstmann, that Wall Street investor, one of Princess Diana's boyfriends, right?" Charles had read reports about it.
"Princess Diana had seven boyfriends in the years after her relationship with Prince Charles fell apart. What's so surprising about that?" Evelyn was uninterested.
"Teddy Forstmann is a controversial financier. The investment company Forstmann Little & Co., which he founded early on, has a bad reputation. Though not as infamous as Carl Icahn, within the financial circles, it's still notorious," Charles, having mixed in Wall Street for years, was privy to many insider details.
Venturing into sports, IMG would undoubtedly be the best stepping stone!
"Teddy Forstmann isn't short of money. Finding opportunities might be tough," How could they not have plans for IMG? Even before the merger, ETA had their eyes on IMG.
Charles shook his head, "Teddy Forstmann is quite old. He no longer has the energy to manage IMG's operations in detail. The development of sports and entertainment is rapid. The longer you delay, the more expensive it gets. Take advantage of the financial crisis and seize the opportunity. It's worth giving up a bit of interest!"
Evelyn looked at her son, realizing he wasn't joking, "We just merged into Hollywood's largest talent agency!"
"The largest agency, combined with CAA, you control barely 60% of the market. There's still UTA, ICM as big agencies, and various small and medium-sized agencies competing. And now, big stars are starting to ditch agency contracts entirely, opting for manager deals. They're merely collaborators, leaving you mainly responsible for PR. Relying solely on talent agency services isn't viable anymore. In packaged services, managers have a better edge."
The pure talent agency business was already a small portion. PR, advertising, and live performances were now the main operations.
However, artists are crucial assets, like film companies in media groups, serving as the main driving force.
Evelyn shook her head, "We'll talk about these later. For now, let's focus on integrating our internal resources."
"As for IMG, I'll pay close attention to them!"
The next day, Evelyn left New York and returned to Los Angeles, given the many tasks at hand.
The merger timing was also due to many clients of both companies suffering heavy losses during the financial crisis, significantly reducing agency revenues.
In the evening, Charles picked up Megan Fox, who had just returned from promoting a film in the UK, thanks to the huge success of last year's Transformers.
Megan Fox was voted the world's sexiest woman by Maxim readers this year!
With an angelic face and a devilish figure, Megan Fox shot to global fame. Even being a "pretty face" at its peak had significant influence.
In the bedroom, after a passionate moment, the sweaty Megan Fox lay on Charles' chest, gasping, "I always wanted to live like this, with everyone going crazy for me under the spotlight!"
Charles just smiled and stroked her head, asking, "Enjoying it, huh?"
"Yeah, I love this feeling!" Megan Fox had no reason not to. After Transformers came out last year, Megan Fox discovered that a comedy film How to Lose Friends & Alienate People featured her favorite star, Simon Pegg.
Megan Fox expressed her interest in joining the film, and they immediately scheduled a part for her according to her availability!
"Now you must have no shortage of scripts, right?" Charles inquired, noting that Megan Fox's The Sisterhood of the Traveling Pants 2 was released this year.
"No shortage, lots of choices," Megan Fox shook her head. "But many roles still focus mainly on my looks. However, there's one script that's a bit interesting. Diablo Cody, who won the Oscar for Best Original Screenplay this year, seems to have another script completed when she wrote Juno!"
Diablo Cody was that former stripper from Chicago. The screenplay for Juno, produced by Capet Pictures, was her first script.
"What kind of story is it?" Charles had some impression of Diablo Cody but wasn't too familiar.
"Oh, it's called Jennifer's Body. It's an R-rated film with a lot of entertainment value. It mixes horror, sci-fi, thriller, and romance in a campus setting, featuring scenes of skinny dipping and seducing prey, tightly linked with gory moments."
Charles knew about Jennifer's Body upon hearing its name. It was indeed a cheesy teen horror romance flick, all blood and seduction.
"Forget it. The main selling point would still be your sexy body and face. With the Transformers series backing you up, maintaining a good image will attract big brands for advertising," Charles was aware of this flop.
If it were as successful as Twilight, Charles wouldn't mind. Megan Fox didn't need to stoop to low-budget, poorly made gory horror flicks to hone her acting skills!
Besides, Megan Fox was the first woman Charles had identified, holding a different significance.
"Oh, okay. My agent also suggested I avoid such controversial movies." With Charles's disapproval, Megan Fox naturally complied.
*****
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