Deal creates new top-five player among business managers in entertainment
In a sign of further consolidation among Hollywood business management practices, leading CPA and advisory services firm MGO has announced a merger with veteran firm Meschures Snyder Pocras & Levin (MSPL).
MGO’s entertainment clients include major players in music, sports, film, and television, such as writer and producer Roberto Orci, whose “Hawaii Five-0” (pictured above) has been airing on CBS since 2010.
MSPL brings to the merger about 100 leading film and TV clients, including actors, writers, directors, and producers – as well as several high-net-worth individuals.
“This is an important milestone in the history of both firms,” said MGO CEO and managing partner Kevin O’Connell. “[MPSL partners] Victor Meschures and Dusty Snyder are pioneers in the discipline of business management. It’s impossible to measure the value of the knowledge and relationships they bring to the team.”
O’Connell emphasized synergies created by the merger, with MSPL’s strength in film and television bolstering the expansion of MGO’s ongoing entertainment, sports, and music practice.
MSPL also sees great value in the merger. “By joining forces with one of the largest, fastest-growing CPA firms in the country, we are able to offer our clients greater breadth and depth of resources than ever before,” said MSPL’s Meschures. “We see this as an unrivaled blend of experience, service and technology.”
The growing role of digital technology in business management was a persuasive factor as the merger developed. “We’re leveraging all kinds of technology, including artificial intelligence, to provide services more cost-effectively,” said O’Connell. “Clients today want to be able to get key information on their smartphones.”
The new partnership also melds elements of a shared vision, including a progressive view of the role of women in the industry. “This combination aligns with our commitment to women’s leadership in the entertainment industry by adding MSPL partners Anna Levin and Jeanne Pocras,” said O’Connell. “MGO has a history of serving some of the most influential women in Hollywood.”
In the past, MGO has partnered with Variety to sponsor the publication’s annual Power of Women event. O’Connell notes that MGO’s entertainment practice is led by Brandy Davis, whom he characterizes as “one of the preeminent women in the industry.”
For MSPL, the merger coincides with a major milestone: Founded in 1947, the firm celebrates its 70th anniversary this year.
Meschures said a major impetus for the deal came from a speech delivered by Eric Wasserman, managing partner and co-founder of business management firm WG&S, when he received the Business Manager Elite Award at Variety’s Business Managers Breakfast on Oct. 26 at the Montage Beverly Hills.
“Eric spoke of consolidation and the need for firms to be scaled to the right size,” said Meschures. Soon thereafter, Meschures was in talks with MGO.
MGO will be adding MSPL’s Beverly Hills location to its network of offices throughout California.