Columbia Artists Management Inc. Will Close its Doors

Columbia Artists Management Inc. has announced that it is shutting down, ABC reports.

The company confirmed the closure in a statement emailed Saturday to CAMI artists. It will officially close its doors on Monday.

"Columbia Artists has engaged with a fiduciary to enter into an assignment for the benefit of creditors, a form of insolvency proceeding where assets are liquidated and claims addressed in an orderly manner," the statement said. "We are working tirelessly to provide each of you concrete guidance on your specific situation in the coming days. In addition, we're working together with the fiduciary to see a safe place to land for your Columbia Artists relationship."

Read more on ABC.

Based in New York City, Columbia Artists was formed in 1930 as Columbia Concerts Corporation by Arthur Judson and William S. Paley.

CAMI has represented a very large number of active classical artists worldwide, including singers Leontyne Price, Elisabeth Schwarzkopf, Renata Tebaldi, Mario Lanza, Jussi Björling, John McCormack, Richard Tucker, Paul Robeson, and George London; pianists Vladimir Horowitz, Arturo Benedetti Michelangeli, and Van Cliburn; violinists Jascha Heifetz, Yehudi Menuhin, and Tossy Spivakovsky; and conductors Leonard Bernstein, Herbert von Karajan, and Otto Klemperer.