WMA finds devil in the details

Agency board gets overview of Endeavor merger

By CYNTHIA LITTLETON, MICHAEL FLEMING

Board members of the William Morris Agency got their first comprehensive overview of the proposed merger of WMA and Endeavor on Tuesday, including details of how the new combined entity would be structured.

The board had intended to vote on the merger on Friday, but the vote has been pushed to next week to allow board members time to digest the info and discuss its ramifications.

Among the concerns is a rising tide of anger within WMA over how the merger discussions have been handled and the uncertainty the process has created for WMA's agents and their clients, according to insiders. There are also questions about how much WMA's top execs will be compensated if the merger goes through.

While the board presentation was taking place at a location away from WMA headquarters, the rumor mill was racing inside WMA.

Speculation ranged from the minor -- will the new agency will be called William Morris Endeavor? -- to the major -- would as many as 10 of the high-level agents who would likely be welcome to join the new entity instead join a rival or start their own tenpercentery?

Sources on both sides caution that the merger still could fall apart, though it has gathered such momentum that an implosion seems less likely with each day that passes.