Magazine article Screen International

WME|IMG Deal for Bloom Shifts Movie Financing Horizon

Magazine article Screen International

WME|IMG Deal for Bloom Shifts Movie Financing Horizon

Article excerpt

WME|IMG’s acquisition poses questions for the independent space.

Ken Kao, Gus Van Sant, Matthew Mcconaughey, Alex alton

As the industry descends on Toronto, the evolving nature of agency business in light of WME|IMG’s acquisition of a majority stake in Bloom has become an early focal point.

A number of people who spoke under condition of anonymity have raised concerns over how the transaction will affect prospects for rival sales agents, as well as WME|IMG’s financier and producer clients.

The agency’s packaging division WME Global, led by Graham Taylor, helped its client Ken Kao (pictured at left at the Cannes 2014 launch of Sea Of Trees with Gus Van Sant, Matthew McConaughey and Alex Walton) launch Bloom with Walton in 2014.

WME Global will now leverage the investment capital and its partners’ acumen and reputation to grow Bloom and enable WME Global to hold onto projects rather than siphon them off to third-party sales agents.

Taylor told Screen last week that he holds all sales agents in the highest regard and has every intention of continuing to service them with appropriate top-tier product. …

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