Billy Corgan has weathered many break-ups, from parting ways with former bandmembers and managers to firing PR firm MSO, which he did in November after nearly 10 years of service. But his current incarnation of The Smashing Pumpkins is allegedly at the center of another big split: the dissolution of the 25-year business relationship between Peter Katsis and Jeff Kwatinetz, who have managed such acts as Limp Bizkit, Enrique Iglesias, 30 Seconds to Mars and Puddle of Mudd at Prospect Park and previously The Firm over the years together.
Katsis, a Prospect Park partner, signed The Smashing Pumpkins to the company's music management roster in 2012. The band joined longtime Katsis clients Jane's Addiction, Perry Farrell and Korn, but, according to a Prospect Park colleague, garnered most of Katsis' attention. "Peter was spending 90 percent of his time on the Pumpkins" -- a characterization Katsis disputes -- despite an active roster that included the successfully reunited Backstreet Boys, Ice Cube, Eden xo and recent signee Azealia Banks, who released her long-shelved Broke With Expensive Taste album through the firm's label-services division in November.