Biz news: Rift at the top of IMG Artistsmain
Billboard magazine has published an extensive investigation into IMG Artists which is now, by default, the world’s largest classical agency.
The major shareholder, Alexander Shustorovich, has spoken for the first time. He is not happy with the minority owner, Barrett Wissman.
Wissman, 58, is designated chairman and Shustorovich president/CEO, but those are not legal corporate titles. Shustorovich says he now has majority control of the privately held company. Wissman claims his stake and Shustorovich’s are equal. The two men do not appear to agree on much, and their mutual distaste is palpable. Wissman will not speak of it on the record; Shustorovich has no such qualms.
“People have asked, why would I get in bed with a guy like this?” says Shustorovich of his fellow shareholder. “I thought he’d done his penance. He presents himself like he’s a nice guy, and a lot of people fall for that crap. Now that I’ve got to know him better, I’ve learned to be more careful.”
Shustorovich says he recently had to sue Wissman in New York State Supreme Court for failing to repay a large personal loan. Wissman is currently suing Shustorovich in the same court for allegedly overcharging the agency for rental space in a New York townhouse Shustorovich owns.
Read the full shebang here.