This article was corrected on May 7, 2003.
Only 2 months after the arrival of venture capitalist Kevin Wall as co-chairman at management/production shingle Immortal Entertainment, the company founded by music maven Happy Walters is being restructured — to no longer include talent management.
The company will now apparently focus on its core music biz, which includes the Vans Warped Tour and a robust soundtracks division.
Wall, who took an equity investment in the company in March 2003, said at the time his focus would be to grow the company by creating additional international opportunities.
Instead, Wall announced recently to staffers his decision to shutter the management division, which may be a prelude to selling part or all of the company.
This means that Immortal managers, including talent capo Brian Medavoy, Eric Critzer, Brad Mendelsohn, Andrew Deane and Brian Wilkins will depart the company. Within the last few months two key actor clients, David Schwimmer and Jenna Elfman, had quietly discharged Immortal.
It’s not yet clear whether all managers affected will band together or go their separate ways.
The company reps directors like “My Big Fat Greek Wedding” helmer Joel Zwick; writer-directors like Michael Petroni (“Til Human Voices Wake Us”) and screenwriters Michael Brandt and Derek Haas (“2 Fast 2 Furious,” ).
A co-founder of Shelter Capital Partners, a Los Angeles-based private equity firm, Wall got his start in the production and foreign licensing of music and radio programming. He produced events like “David Copperfield’s 25 Years of Magic” and “Bob Dylan: the 30th Anniversary Concert Celebration.”