News
CSS share deals spark speculation
01.02.08 Joel Rickett
Two directors of CSS Stellar have snapped up £500,000 of shares in the group, sparking fresh speculation about the future of its embattled agency arm PFD.
On 18th January, CSS vice-chairman Julian Jakobi and director John Webber bought two million CSS shares at 25p each. A large tranche of the shares were aquired from Nicholas Gold, the investor who appointed executive chairman David Buchler. The deal means that Jakobi and Webber together own 29% of the listed business.
One source speculated that Jakobi and Webber may be seeking to cut their losses by removing Buchler and breaking the group up, selling the PFD backlist to the departed United Agents. But an insider insisted Buchler retains the full support of the board.
Meanwhile, the United Agents are keeping busy at their temporary Shaftesbury Avenue offices, waiting for their newly-acquired five-floor headquarters in Soho's Lexington Street to be refurbished. The company's new website proclaims that it "redefines the literary and talent agency". The books division, headed by Caroline Dawnay and Simon Trewin, includes Rosemary Canter, James Gill, Robert Kirby and Charles Walker.
See Also
Related
- Michel attempts to draw line at PFD
- CSS Stellar pledges PFD talks
- CSS Stellar fires PFD agents
- Buchler sets up his own United Agents
- CSS Stellar confident over PFD
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