ICM ‘Turmoil’ Continues
The turmoil at ICM reportedly continues. Agency president Chris Silbermann and CEO Jeff Berg have been said to be jockeying for control of the company and Dec. 1 apparently had another watershed moment in the battle.
Silbermann and ICM general counsel Rick Levy flew to New York to confront the agency’s investor, Suhail Rizvi, demanding a management buyout, according to Deadline Hollywood’s Nikki Finke. The two apparently want to eliminate Rizvi Traverse Management as a majority shareholder and have been working on the scenario for about two weeks.
Rizvi said he’d make a decision by Christmas, but told the pair he’d make a decision today, Dec. 2, according to Finke. Meanwhile, Silbermann and Levy were to call a board meeting to present the buyout proposal.
However, according to The Wrap, no emergency board meeting has been called. An ICM spokesman further told The Wrap that it was incorrect that former CAA chief Michael Ovitz was in any way involved.
“There has been no engagement, solicitation or request of services or capital from Mike Ovitz,” the spokesman said.
All of the alleged maneuvers are said to take Berg out of a position of power. The efforts are “civil,” the spokesman told The Wrap, contrary to reports Silbermann and Levy were warring openly (read: The Wrap is contrasting the reporting of rival Deadline).
Berg has reportedly taken on a smaller role in ICM’s day-to-day operations as the agency’s movie business has declined. Meanwhile, Silbermann’s television business has become the breadwinner, which The Wrap says is the catalyst for all the insider drama.