Following the sale of its digital and alternative divisions to Gersh, A3 Artists Agency is “ceasing operations,” TheWrap has learned.
A3 Chairman Adam Bold recently informed staff in a memo, first made public by Deadline, that the agency will be ceasing operations as of Monday evening on Feb. 12.
“The decision was not made lightly and comes after extensive analysis,” the memo said. “Despite our best efforts, we find ourselves unable to continue operating in a sustainable manner.”
While some administrative work will continue for a short period after that, the shutdown marks the end of the road for the agency originally founded as Abrams Artists Agency in 1977 before being acquired by Bold in 2018 and renamed A3.
The news comes two months after Bold was accused of having “doomed the company” in a lawsuit filed by the company’s president and CEO in December. The lawsuit accused Bold of an “an astonishing run of terror” overseeing the company, and of “secretly” arranging to sell pieces of the company to Gersh.
The lawsuit also claimed Bold had a reputation as a “creep” and a “sex pest” among employees, and that he used illegal drugs during official work events. Bold strongly denied the accusations, which he called “a shake down and pure extortion,” and said he had evidence proving it. He also said that the attorney representing Cho and Atterman had a “personal vendetta.”