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Ashton Kutcher Exits From Endeavor…

By | Monday April 7, 2008 @ 1:25pm PDT

ashton_kutcher.jpgThe actor/TV producer left that agency’s representation in all areas today. It’s been a bad couple of days for Adam Venit, first Chris Rock on Thursday, now Kutcher. Interestingly, Kutcher’s name surfaced just last week when an SEC filing showed he had a directorship in a SPAC financial vehicle (for media, entertainment and publishing mergers and acquisitions) in which William Morris also has ownership. Hmm.

Why Is Morris Involved In Financial Fling (With Ashton Kutcher?)

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Why Is Morris Involved In Financial Fling (With Ashton Kutcher?) Agency Mum…

By | Thursday April 3, 2008 @ 4:39pm PDT

The so-called “SPAC”, raising $500 million in financing on the American Stock Exchange for acquisitions in the entertainment/media/publishing arenas, is a Special Purpose Acquisition Corporation formed under Delaware’s liberal corporate laws on October 24, 2007 and filed with the SEC. (SPACs are investment vehicles with a whole host of SEC requirements attached to them. wma.jpgThey’re blank-check companies that have no operations but that go public with the intention of merging with or acquiring a company with the proceeds of an IPO.) Interestingly, some weeks ago, a spokesman for the William Morris Agency denied to me the tenpercentery was involved. When I said today I had the SEC paperwork in hand, the mouthpiece did an about-face and told me, “We’re not allowed to talk about it. We’re under a quiet period with the SEC.”

wiatt.jpgSPACs have all sorts of rules about targets and time periods, so this SPAC has to move pretty fast. But rival tenpercenteries are pointing out to me all the potential hazard for conflicts of interest — whether WMA is an actual financial partner and/or bringing in potential investors and/or ID’ing merger or acquisition targets. So what’s behind this? Here’s a clue: Jim Wiatt, since becoming the agency’s largest shareholder, has increasingly referred to Morris as an entertainment company rather than a personal representation business, something at odds with what many on the agency’s board believe. (The agency has been suffering some client … Read More »

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