NEW YORK (CelebrityAccess MediaWire) — On March 16, Metropolitan Talent, Inc., was forced to layoff and furlough a number of staff members due to the economic climate and current volatility of the overall music industry as it moves forward and restructures its business.
According to co-CEOs John Scher and Al Cafaro, and CFO Errol Antzis, Metropolitan was on the verge of announcing "an exciting new strategic reorganization" when a major investor withdrew due to the economy and the investor's own liquidity issues.
"While Metropolitan Talent is in serious discussions to replace their exiting investor, the layoffs and furloughs were a necessary action due to restructuring and the prevailing economic conditions," said Metropolitan spokesperson Renee Pfefer.
Metropolitan’s three divisions concert production, artist management and Hybrid Recordings, will continue operations. Scher confirmed to CelebrityAccess that longtime employees Ian Noble in the concert division and veteran managers Doug Thaler and Bridget Nolan in the management division, remain with the company.
Metropolitan Talent Presents’ concert division, headed by senior producer Noble, is finalizing the 2009 summer season lineup at Constellation Brands Marvin Sands Performing Arts Center (CMAC) in Canandaigua, NY. In addition to announcing the seasonal schedule next month
Metropolitan is currently promoting more than 30 concerts while gearing up for a number of spring and summer events throughout the Northeast, including four Metallica shows, Bryan Adams, Brandi Carlile, Kris Kristofferson, Music As A Weapon IV Tour, Yanni, Nektar, Dickey Betts & Great Southern and Gordon Lightfoot.
Management clients Bruce Hornsby, Art Garfunkel and Little Feat remain actively touring with ongoing recording projects.
Hybrid Recordings, which has been relatively inactive recently, will continue to support Liza Minnelli’s original cast recording, Liza’s at the Palace. — Jane Cohen and Bob Grossweiner