FIRINGS SQUADS TAKE THEIR MARK in 2008

[rockridesva]

With the strike still choaking the system, a fresh laundry list of firings, deal-cuts, and bankruptcy fill the first days back.

Heard this this morning...

Companies losing their deals...

State Street (confirmed)
Betty Thomas Company (confirmed)
Jinks/Cohen (dissolving)
LivePlanet
Vertigo
Simon West Company
Lynda Obst

(My friend at Jinks denies that their dissolving, and I agree with him, though they left Paramount, and we all already knew that.)


SIDE BETS IN:


Hearing Millenium and Overture making WGA side deals.

Then they reloaded, and this hit the desk after lunch.


Walden just fired all of their creative and physical production execs.

And then, a direct hit where it hurts... for someone still getting paid.


Mad Money
BREAKING! Hollywood Payroll Company Axium Declares Emergency Bankruptcy, Studios May Be Out Big Bucks
Tips began flooding the Defamer mailbox just minutes ago that Axium International, a leading entertainment industry payroll agency that works with Warner Bros. among other studios, shut their doors overnight and have apparently declared bankruptcy. We called their Los Angeles, Burbank and New York offices in an attempt to get comment, and all three calls went straight to the company voicemail (urging us to "call back during regular office hours"). One of our sources told us that Axium "fired everyone without warning" earlier today and is holding onto over $100,000 in payroll money recently deposited from the DGA. An email chain describing the situation that was sent to the LA Producers Yahoo group follows after the jump.

[rockridesva]

NEW INFO:

Apparently the $100k from the DGA that Axium is holding is nothing in comparrison to several others. Apparently there are several million dollars still being held, one production company (not to be named) alone is claiming to have $700k held.

[rockridesva]

Now also hearing on the AXIUM front (from an insider):

Anyone owed money from them from gigs that were to be paid this month will become part of the bankruptcy (thus not getting a dime).


And on the firing squad front:

Innovative has as of Friday officially completed their gutting of their Lit department by closing it down all together.

[joe9alt]

What a time to be trying to break into this cluster$#@! of a business.

Thanks for the scoop, R-diddy.

[rockridesva]

Agency cuts:

Renée Tab, Brian Levy & Eva Lontscharitsch force mejeured from ICM.

The rumor mill is abound with agency cuts that are to hit very hard next week. Some very big names being tossed around, but nothing yet concrete to inform. But by all accounts the storm that was held at bay over the holidays is going to unleash it's fury again these first few weeks back.

[Lillith]

I think they are just "working from home" not fired, no?

[rockridesva]

Force majeure ax falls at ABC Studios

Nearly two dozen writer deals terminated

The force majeure ax has swung at ABC Studios, which today notified nearly two dozen writers that it was terminating their overall deals as a result of the strike.

While all the major studios had previously suspended deals for their scribes, the ABC Studios move reps the biggest move yet by a major to cut ties to talent.

Among the scribes cut off: Bill Callahan ("Scrubs"), Larry Charles ("Curb Your Enthusiasm"), Sean Bailey ("Gone Baby Gone") and the team of Joshua Sternin and Jeffrey Ventimilia ("That 70s Show," "Surviving Christmas"). Thesp Taye Diggs, who had a production deal at ABC Studios, has also had his pact terminated.

Other studios are said to be considering taking similar action.

"The ongoing strike has had a significant detrimental impact on development and production so we are forced to make the difficult decision to release a number of talented, respected individuals from their development deals," ABC Studios said in a statement late Friday.

[sc111]

Wow. Just ... wow.

[Gillyflower Cooms]

I heard ICM cut Brian Sher today and that they dont have any plans on bringing these people back.

[rockridesva]

Yep, correct on both counts Gilly.

[rockridesva]

And from what I was hearing around the rumor mill today, Monday and Tuesday are going to outweigh all the firings combined thus far. I have zero idea to what extent, but that's what I've been hearing a lot these past few days.

My guess would be more deals, but agencies are going to start swinging the axe soon to. ICM and Innovative started it, but at some point the rest are going to feel the burn.

[baldstunter]

in regards to the Axium bankruptcy;

not sure if the WGA gets a bond for their writers the same way the Screen Actors Guild does, but, in SAG's case, the people responsible for paying the actors outstanding checks is the studio that hired the actors, not Axium, they're just a payroll company as far as I know.

So, the actor's case would be in collecting from the bond put up by the studio or with the studio itself. The studio would then have an issue with Axium.

thinking it would be the same for anyone else.

cheers,

just my 1.5 cents.

[Lillith]

I actually braced myself and the ICM people whether it's permanent and they say no. They are keeping bebefits and base pay for now but have to work from home. So hopefully at least those folks will return after the strike.

[Goon Squad]

Now that Nikki Finke is taking a week off, you guys please keep me updated on the down and dirty as you hear it.

[Scripted77]

I heard a rumor that the DGA makes a deal tomorrow.

Okay, who am I kidding?

I don't know sh*t. I just read it on unitedhollywood.com, which (aside from my manager) is my new go-to source now that Finke is out.

[Lillith]

Oh yeah, Nikki. Her final post after a week of on and off seems a bit strange. What happened? Did she have a nervous breakdown? Has she been kidnapped by Scientologists?

[zazzo2003]

What about folks in the midst of developing an actual show for the networks. Meaning; their pilot was bought and ordered to series...like Jane Espenson's Warehouse 13? Are studios cutting loose deals that were on the cusp but not in the can yet?

-Zazzz :)