Agents Group Drops Investment Proposal

The Assn. of Talent Agents voted Tuesday to withdraw its controversial proposal to loosen restrictions on the kinds of businesses agencies can invest in and which ones can invest in them.

At the same time, ATA notified the Screen Actors Guild that it plans to reopen all SAG rules and regulations that affect members of both unions.

ATA said it expects to submit specific proposals to SAG by April 10.

ATA’s move Tuesday came in response to a decision by SAG, preventing a two-year waiver of the rules allowing agencies to take financial interests in TV and film production and enabling such companies as ad agencies, Internet firms, production outfits and media giants to own interests in agencies.