Tagged: cash-flow

read VANITY FAIR’s article “The Inside Story of Ari Emanuel’s Big, Risky WME-IMG Merger”

This is going to be a pretty good read, although I notice that the article makes no mention of the two multi-million dollar racial discrimination lawsuits against WME and the considerable amount of money they are paying to have their law firm, Loeb & Loeb LLP and its attorney Michael P. Zweig, as well as others, engage in fraud so that William Morris can obtain favorable verdicts and avoid jury trials. Based on all the facts and circumstances, it is clear that Leonard Rowe was defrauded by his own attorneys (and their co-conspirators) and had the law been upheld by federal judge Robert P. Patterson in Rowe’s case after he filed his March 2012 Fed. R. Civ. P. 60 Fraud Upon the Court Motion, William Morris, more likely than not, would have not have been able to afford the $2.4 billion needed to acquire IMG in December of 2013 [or they would have needed to borrow more money from SilverLake]…Since they appear to be having financial problems, maybe we need a percentage of the company as well?

Source: William D. Cohan. “The Inside Story of Ari Emanuel’s Big, Risky WME-IMG Merger.” Vanity Fair. February 11, 2015. http://www.vanityfair.com/news/2015/02/wme-img-merger-ari-emanuel.