Originally Posted by JoeBanks
I mean, I guess there is a certain sense of "loyalty" in waiting around to cash out after Ari ****ed up the IPO to such a fare-thee-well that you're taking a big haircut relative to what you had been promised for years:
"those agents were told of an indefinite postponement of a windfall they expected to occur on April 5. Basically, the partners were set to be given the option to cash out 20% of their equity, calculated on a $3.6 billion valuation of the company. That will be pushed down the road indefinitely and the partners were also told it is likely they will be asked to volunteer to take pay cuts, until business rebounds."
On the other hand, now being told you're not even getting your 20 cents on the dollar return, oh and also kick in some more until the pandemic stops seems like it will really separate the loyal from the merely self-interested.
I thought the whole point of WME not having to give in to the WGA's packaging demands was that they had so steady of a stream of existing packaging fees that they could weather any length of time without repping writers. Maybe that was just a lot of posturing and not a lot of truth?
Yeah, I don't know, right?
Packaging is lucrative, but the payout seemed it was a guaranteed payday. I honestly don't know.