3 Key Guilds Back CAA Deal

Hollywood’s guilds representing actors, directors and writers gave their blessing Friday as expected to a Creative Artists Agency consulting deal with the French bank that owns Metro-Goldwyn-Mayer.

The guilds released an eight-point policy statement from CAA in which the agency, among other things, says it will not interfere in creative decisions at MGM, will not acquire confidential information about clients of other agencies and intends to terminate its relationship with the bank after Credit Lyonnais disposes of MGM and other producers or distributors it owns.

CAA has been hired to help Credit Lyonnais revitalize MGM, which the bank took over after former owner Giancarlo Parretti defaulted on loans. The bank hopes to find a buyer to keep the studio alive.

The chief critic of the consulting pact, International Creative Management Chairman Jeffrey Berg, issued a statement suggesting that the guild statement shows that the consulting deal was problematic in the first place. Berg also said he would press his case with federal antitrust authorities. But a CAA spokeswoman said that the agency’s relationship with Credit Lyonnais “is the same today as it was in March. The scope of the work we will be doing for the bank remains unchanged.”