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Robert Downey Jr. and his production banner, Team Downey, have exited CAA and signed with WME for representation in all areas, The Hollywood Reporter has confirmed.
The move occurs in the shadow of the dismal reviews and performance of Dolittle, the $175 million tentpole that was to have launched a franchise and become a cornerstone for Downey’s post-Iron Man future.
Downey had spent the last decade at CAA, joining the agency after the death of his longtime agent, Ed Limato, in 2010. Limato had been been a fixture at ICM for almost 20 years, then later joined WME.
While Downey toplined Marvel’s inaugural movie, Iron Man, in 2008, and starred in 2009’s Sherlock Holmes before joining CAA, it was during his tenure there that he famously became the “$50 Million Man.” With his initial contract up, Downey’s camp negotiated fees that saw the actor, the biggest name in the Marvel Cinematic Universe, earn $50 million and beyond per movie.
Downey famously earned $5 million per day when shooting 2017’s Spider-Man: Homecoming. It is unlikely such deals will be seen again in a corporate Hollywood that has elevated brands and IP above actors.
Team Downey, run by Downey’s wife, Susan, has built an ample slate, with an update of Perry Mason for HBO among the project it is producing.
Downey has no feature currently lined up, although Sherlock Holmes 3 is in development at Warner Bros.
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