The row at UK literary agency PFD (as reported on Speakeasy, 24th September) rolls on and on with resignations and sackings, new agents being hired (although no names have been confirmed) and authors and actors jumping ship all over the place.
As of last week 23 of the company’s orginal 36 agents had departed or were on their way and accusations were being hurled backwards and forwards in an increasingly frenzied manner. The latest slanging match centres around the alleged payment of excessive commissions and bonuses to a number of the rebel agents earlier this year. David Buchler, the chairman of PFD’s parent company CSS Stellar, has launched an investigation amidst claims that a number of agents soaked up the company’s profits to fund an attempted management buy-out.
Many of the 23 former PFD agents are joining forces to start their own company, United Agents, which is set to launch early next year and reports indicate that an increasing number of their clients are vowing to stand by their ‘man’.
Which surely leaves the future of PFD, one of Europe’s leading and (until now) most respected agencies, in doubt.
For the full picture, see The Times Online.