Magazine article Screen International

WME|IMG Buys Majority Stake in Bloom

Magazine article Screen International

WME|IMG Buys Majority Stake in Bloom

Article excerpt

Agency increases power base in independent film world.

WME|IMG has acquired a majority stake in Ken Kao and Alex Walton’s Bloom in a significant move by an agency to tighten its grip on the independent film financing and production space.

The transaction, understood to have closed within the last week after months of talks, will be a source of joy to Kao and Walton as they seek to scale up the three-year-old sales and financing venture.

While it is understood Bloom will maintain an agnostic approach towards working with all agencies on talent and packages, the transaction raises questions about the growing role of agencies in the independent financing and production space.

Specifically, other sales agents and WME|IMG producer clients will want to know what kind of packages they can now expect from WME|IMG’s financing and packaging unit WME Global, which has been closely involved with Bloom since it and the agency played an integral part in helping to launch Bloom in 2014. …

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