PERILS OF AGENTS TO AGING STARS : BOX-OFFICE LETHARGY, OSCAR SNUBS LEAD TO WIDESPREAD AGENCY-SWITCHING.

Byline: Bernard Weinraub The New York Times

Arnold Schwarzenegger is turning 50 and has suffered box-office disappointments. Sylvester Stallone's career is in the doldrums. Madonna failed to get an Academy Award nomination.

So what do they do?

They switch agents.

Feelings of vulnerability among aging stars, the insecurities provoked by Oscar snubs, the renewed aggressiveness of Creative Artists Agency two years after its leaders, Michael Ovitz and Ron Meyer, abruptly left - all are combining to make the normally ferocious competition for clients among talent agents almost cutthroat. Rarely have so many stars jumped from agent to agent, some of them abruptly leaving people who have built and nurtured their careers. Overnight, agencies can lose millions in commissions.

``What's happening now is a reflection of the whole business,'' said Jim Wiatt, president of International Creative Management, one of the most powerful agencies. ``The decline in the number of movies being made, the normal insecurity about getting jobs, the multinationals that own studios looking at the bottom line and rising costs are generating this sense of upheaval.''

Almost daily the Hollywood trade papers report defections from one agency to another. Director Penny Marshall leaves her longtime agent at Creative Artists Agency for ICM after disappointments including ``Renaissance Man'' and ``Preacher's Wife.'' Nathan Lane dismisses his William Morris agent of 17 years to go to Creative Artists. Schwarzenegger dismisses his ICM agent of 15 years, who helped transform him from an Austrian bodybuilder, and probably will go to William Morris. Stallone rejoins Creative Artists, which he left two years ago to go first to ICM, and then to William Morris.

Perhaps the most discussed defection was that of Cuba Gooding Jr., whose star is rising after his role as the football player in ``Jerry Maguire.'' In the film, Gooding remains loyal to his agent, played by Tom Cruise. But life didn't follow art: shortly after his success, Gooding left his agent at the relatively small Paradigm Agency to join Creative Artists.

Three agencies dominate the movie business: Creative Artists, International Creative Management and William Morris. The smaller United Talent also has a strong client list that includes stars (Jim Carrey and Sandra Bullock) and some top television actors and writer-producers. A fifth agency, Endeavor, also is emerging as a power.

Why clients leave is sometimes a mystery, sometimes not. People who know Schwarzenegger said he needed to re-evaluate his career as an action star as he turned 50, after his last film, ``Jingle All the Way'' and others were disappointments at the box office.

Similarly, Stallone's career is sliding (he is more popular abroad than at home). Madonna, industry insiders say, was upset not only that she failed to win an Academy Award nomination for ``Evita,'' but also that scripts aren't piling up on her doorstep. She has returned to Creative Artists, two years after leaving that agency for William Morris and then ICM.

Rare are the actors who stay loyal. Clint Eastwood and Walter Matthau have been with Leonard Hirshan of William Morris for more than 25 years. Bill Cosby has been represented by Norman Brokaw of William Morris for decades. Beau Bridges and Bruce Dern have been with Fred Specktor at Creative Artists for more than 25 years. Harrison Ford is the sole client of Patricia McQueeney, who has represented him for 27 years.

``Harrison has always been so loyal, and I just can't understand what goes on with these people who are lucky enough to find an agent who cares about them and works really hard for them,'' McQueeney said. ``Wouldn't it be in their best interests to keep that agent?''

``We all know where the jobs are every day, we know what's out there, and any agent worth his or her salt knows exactly what's going on at any given moment,'' she said. ``It's ridiculous to think one agent can do it better than another one.''

She described stars such as Ford and Eastwood as ``very rare guys, very secure themselves.'' ``People who make it big in this town are the ones who find somebody to take care of them and who stay with them.''

McQueeney said it was also ridiculous for a client to blame an agent for a failed film and leave the agent because of it. ``Harrison chooses his films, and so does every other star,'' she said. ``If the film does great, Harrison gets all the credit. If it doesn't do well, he's grown-up enough to take responsibility for that.''

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2 Photos

Photo: (1) Sylvester Stallone has rejoined Creative Artists Agency, which he left two years ago to go first to ICM and then to William Morris. His career sliding, he is more popular abroad than at home.

(2) People who know Arnold Schwarzenegger said he needed to re-evaluate his career as an action star as he turned 50. Schwarzenegger dismissed his International Creative Management agent of 15 years.