This is the first major move ICM has made since a $100 million recapitalization in November, and sources told the Los Angeles Times the agency purchased BWCS’s assets for an estimated $70 million in cash.
ICM Chairman Jeffrey Berg told the paper the purchase was expensive, but did not disclose the details.
“It’s among the most significant deals ever made in the business,” Berg said. “I think it’s a page turner for the agency business.”
BWCS is a 27-person agency that has put together package representation for several hit television series including “Cheers,” “Frasier,” “Baywatch,” “The X-Files,” “My Name Is Earl” and “Grey’s Anatomy.”
Silbermann, a onetime agent’s assistant at Triad, will help oversee the 500 employees at ICM’s Los Angeles, New York City and London offices.
Nancy Josephson, daughter of ICM founder Marvin Josephson, chose to leave the company as part of the reorganization, according to ICM. The agent was ICM co-president and one of the top-ranking female agents in Hollywood, according to the Times.
A number of agents, largely in the television and film departments, were let go following the purchase.