- A3 Artists Agency announces closure after selling divisions to Gersh
- Unilateral decision by A3 Chairman Adam Bold catches industry by surprise
- Efforts underway to launch a new company and retain agents and clients
- Recent lawsuit against Bold adds to agency’s troubles
Little more than a month after finalizing the sale of its digital and alternative divisions to Gersh, A3 Artists Agency has announced its closure, ceasing operations effective February 12, 2024. The decision, revealed in an email to staff from A3 COO Todd Quinn, has sent shockwaves through the entertainment industry. This move brings an end to the agency’s storied run, which began in 1977 as Abrams Artists Agency and was taken over by Adam Bold in 2018.
The Unforeseen Closure
Sources familiar with the situation have indicated that the decision to close A3 was a unilateral one made by Chairman Adam Bold, catching both staff and industry insiders by surprise. Despite the recent sale of key divisions to Gersh, A3 found itself unable to sustain its operations in a viable manner. Administrative tasks, such as processing checks, still need to be completed, and there are efforts underway to launch a new company that would retain agents and clients currently with A3.
The Gersh Deal and Lawsuit
In September 2023, it was first reported by Deadline that A3 was in talks to sell its digital and alternative divisions to Gersh. This deal marked Gersh’s first major acquisition after private equity firm Crestview Partners acquired a stake in the agency the previous year. The successful completion of the deal saw several A3 agents and staffers transition to Gersh.
However, another significant event that hinted at A3’s impending closure was a lawsuit filed against Adam Bold in December. The suit, brought by A3 partners Robert Atterman and Brian Cho, accused Bold of orchestrating chaos within the agency and attempting to sell it off for personal gain. The complaint also alleged Bold’s involvement in creating a toxic workplace through sexual harassment and mismanagement. The lawsuit sought to prevent Bold from dismantling A3 and disclosing confidential information to competitors.
The closure of A3 Artists Agency has sent shockwaves through the entertainment industry, leaving many in the business stunned. The decision to shut down operations comes just weeks after the sale of key divisions to Gersh and amidst a lawsuit against Chairman Adam Bold. Efforts are now underway to launch a new company and retain agents and clients from A3. The industry will be closely watching how this situation unfolds and its impact on the wider agency landscape.