MAIN NEWS HEADLINES
June 15-30, 2004 Edition
Up for Sale?NEW YORK, NY/06/06/04IMG Literary, with offices in London and New York, has hired Rothschild North America to advise on various strategic options, including a sale of the agency, raising new capital, or selling off only portions of the company, according to a report by The Wall Street Journal. The move is said to have been prompted by Founder and Chairman Mark McCormacks need to pay estate taxes.
In related news, Mort Janklow, whose client list includes such celebrities as the Pope, Jackie Collins and Danielle Steel, is rumored to have his agency, Janklow & Nesbit, up for sale. However, Janklow, age 74, has firmly denied the rumors, calling them “ridiculous.”