The 4A’s frequently receives inquiries from members who are signatories to the SAG and AFTRA TV and Radio Commercials Contracts regarding signatory obligations under the contracts in the event of a sale or a merger of an advertiser or agency.
The attorney firm of Reed Smith, LLP, in collaboration with the 4A’s Production Services Division, has developed a white paper in FAQ format that addresses the most frequently asked questions regarding successor liability obligations such as: Does the Purchaser take over all of the signatory’s obligations because of a sale; what are the obligations in the event of a company name change; who is responsible for benefit contributions?
The 4A’s would like to thank David Weissman, Partner, Reed Smith, LLP for developing this informative white paper.
As always, members are advised to seek the advice of their own company’s legal counsel who can review the specific facts pertaining to a member’s individual circumstances.
Please feel free to forward this information to any other agency personnel who would be involved in this issue.
Download “Signatory Obligations – Successor Liability“.