A New Shakeup in the Hollywood Landscape as Two Key Management Firms Merge

 In what we can only sincerely hope will be a far smoother merger process than that which has faced the beleaguered Paramount Global Group, two major Hollywood business management firms are set to merge into a new, expanded entity. Blake & Wang P.A. You could see an entertainment lawyer in Los Angeles, Brandon Blake, shares the news.





                                                               Brandon Blake

New Deal, Few Details

Hollywood business management stalwarts Goldman & Knell will merge with their rival firm, Gelfand, Rennert & Feldman, in another shakeup to the established landscape. While Focus Financial Partners unveiled the deal itself last week, we have yet to be introduced to many of the details. Goldman & Knell, particularly, have a reputation for providing investment advice and industry planning to key Hollywood businesses, including advice on navigating the rocky field of work stoppages we’ve seen in recent years.

Fast Close

Interestingly, the deal is predicted to close in fiscal Q3 of 2024, provided the merger passes the standard regulatory and closing inspections. It seems access to more resources and a wider playing field is behind the pairing. Gelfand, Rennert & Feldman have mostly been active in the music scene to date, with little venturing into other aspects of the entertainment arena.

The combined entity will offer a broader range of services, spanning film, television, and music industries. This move could potentially reshape how talent and production companies receive financial advice and management services. The timing of this merger is particularly noteworthy, coming on the heels of major industry disruptions. With the recent writers’ and actors’ strikes and the ongoing shift towards streaming platforms, entertainment businesses are seeking more comprehensive financial guidance.

Some industry experts speculate that this merger may trigger a wave of similar consolidations among smaller business management firms. As the entertainment landscape becomes more complex, firms may need to expand their expertise and resources to remain competitive. However, with the many lessons in how not to manage a merger coming from the current Paramount stable, we wonder if we really will see a considerable push forward in this area, at least for the next year or so.

 

 

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