We don't usually use this space to cover some of Hollywood's more insidery news, but the merger of William Morris and Endeavor — officially announced , if not formally consummated, on Monday — will have broad implications even if you're just an average moviegoer.
Basically, since it's in many ways a product of shrinking studio slots and a contracting business, its effect will be to both counter and heighten that trend.
Tentpoles will be more prolific, since packages with top-tier directors, writers and talent will be easier to put together by a factor of two.
At the same time, be prepared for some of the bigger writers and directors to be in a position of flux for a while, as many of them will be repped by agents who are themselves in flux (and are targeted by new agents — as one person at a rival shop put it, "It's a Wild West out there"). That could mean a period of transition more than a period of creativity, deals and greenlights for the players in question, at least in the short term.
There are other ways there will be a reaction for every equal and opposite action.
The shakeout of scores of agents will reduce the overall pool of deals and projects, just as a simple matter of math. But, further down the line, the world will suddenly get a raft of new producers and managers, which could then deepen the pool again.
(One interesting subplot/case study comes on the indie side, with figures like WMA's Cassian Elwes and Rena Ronson, and Endeavor's Graham Taylor and Alexis Garcia. If any of them aren't a part of the new WME — and there's been speculation that it could go that way — whoever departs will be just fine in their new incarnation since they all have strong connections on the financing side).
We suspect there'll be more movement and even project news as the new WME — we're almost starting to get used to it — makes its case to the industry, while other agencies make their case by landing former clients and lining up new deals for them. It's a realignment, but not just in a musical chairs kind of way — it changes what gets made and who's making it. So the announcement may have finally come today, but the story's kind of just beginning.