ICM On The Brink?

A power struggle has been waging at ICM since April, according to Deadline Hollywood, and it has the potential of bringing down the agency.

Deadline’s Nikki Finke says she has known of the situation all summer, but is breaking her silence because it does not appear to be waning. ICM President Chris Silbermann wants his boss, ICM Chairman Jeff Berg, to leave and, according to Finke, he is threatening to leave to do it. Meanwhile, the two men are calling secret meetings without inviting the other.

Silbermann recently confided to senior staff he is leaving and taking execs Ted Chervin and Rick Levy with him to start up a Hollywood TV agency, according to Deadline.

One of the big losers is reportedly private equity investor Suhail Rizvi who holds a big chunk of ICM, but Silbermann and Berg are both trying to get financing to take over the agency and reduce Rizvi’s stake.

“I don’t think it’s an exaggeration for me to state that ICM is on the verge of implosion,” Finke wrote.