by: Donna Whitehead
Talent Agency Resolution is shutting its doors. The company announced to its staff this morning that it would be dissolving, following a failure on the part of its backer Bison Capital to provide promised funds. Resolution launched in January 2013, headed by former ICM Partners chairman Jeff Berg. Though it has only been officially in the business for 20 months, it’s made huge inroads, and is one of the largest agencies in the country.
Bison Capital, the first Chinese company to invest in an American talent agency, bought a stake of Resolution in March. Over the weekend, however, it pulled its funding, forcing the agency’s closure. This wasn’t the first loss Resolution had suffered, however; a number of its top agents have left in recent months, including film head Steve Alexander and TV literary head Dennis Kim.
The agency currently employs 24 agents and represents a huge number of clients, including such well known names as Lindsay Lohan, Steven Seagal, Haley Joel Osment, Naomi Campbell, and composer Danny Elfman. As it shuts down, the agency will have to take steps to place its clients with other representation. More to come as story develops.