An unidentified Resolution representative has confirmed to various media that the agency has lost its Chinese-backed funding and Berg has been meeting with staff as the company winds down.
The agency began in January 2013 with some ballyhoo. When Berg left his position as chairman of ICM, he gathered funding from China-based Bison Capital and set up shop in Century City. The company brought in several agents although it never became what the trade magazines pretended it would be: a competitor to major agencies. At the time, a tip to Deadline Hollywood claimed the agency was on the verge of launching “three lucrative concert tours.”
“Over the next six months, Hollywood and New York and Nashville will witness a series of announcements about agents being hired from the top tenpercentaries and midlevel executives being culled from the Industry,” Nikki Finke wrote, describing Resolution as Berg’s “film/TV/talent/literary/music/publishing/digital” agency.
Resolution did hire former ICM agent Terry Rhodes, longtime contact for The Beach Boys, and brought in agents Steve Schenck and Phil Casey. Rhodes as well as agent Jeff Franklin have exited the firm. At press time it had some significant music acts like Bryan Adams and R. Kelly, but it was known more for repping television and movie acts like Lindsay Lohan and Rose McGowan.
Peixin Xu, the principal behind Bison Capital, provided a reported $200 million in backing. That financial support was apparently removed this weekend amid some highly contentious conversations.