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Article: ARTISTdirect to Exit Talent Agency Business and Establish Relationship With Creative Artists Agency.
- Article from:
- Business Wire
- Article date:
- January 3, 2002
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Business/Entertainment Editors
LOS ANGELES--(BUSINESS WIRE)--Jan. 3, 2002
ARTISTdirect, Inc. (Nasdaq:ARTD) today announced a decision to exit the talent agency business and establish a relationship with Creative Artists Agency (CAA) to provide services to the Company. The Board of Directors reached the decision after an internal evaluation determined that ARTISTdirect faced limited prospects for increasing the value of its agency business and there are potential conflicts with the Company's expanding record label interests. In addition to its record label co-venture, the Company will continue to operate its online music network, artistdirect.com.