In 1975 five agents at the William Morris Agency, among them Michael Ovitz, planned to start their own agency. William Morris fired them before they had their financing. They started Creative Artists Agency in a small rented office “outfitted with card tables and folding chairs.” Their wives took turns as receptionist. Sam Weisbord of William Morris said: “this is treason!”
“Several clients followed them over the next few weeks.” The money did not follow at once. The commissions on those clients “stayed at Morris until their agency contracts ran out.”