Monday, Nov. 02, 1992

The 10%Ers

DID YOU HEAR ABOUT ELVIS? HE'S HIRED THE WILLIAM Morris Agency -- too many people know where he is.

That aging barb about the venerable Hollywood talent agency and its notoriously low profile may no longer apply. In purchasing the smaller, hipper and younger Triad agency, with 50 agents and its own show-biz clients, the Morris agency pulled off a snazzy triple play. With new talent such as screen stud Bruce Willis and hot-shot musicians Pearl Jam and the Red Hot Chili Peppers, Morris instantly juices up its soft film and music divisions, raises its celebrity quotient and re-establishes its place on the top tier of Tinseltown's talent brokers, along with International Creative Management (which represents Eddie Murphy) and Creative Artists Agency (Kevin Costner, Tom Cruise). In the recession-stalked entertainment business, the deal not only made sense but dollars too. Says Triad partner Peter Grosslight: "In this competitive environment, it's the larger agencies that are going to do the best."