The William Morris Agency is threatening legal action against the New York Post over recent stories about the talent agency, Daily Variety said Wednesday.

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The Post has reported over the past month there has been a "mass exodus" of clients at WMA, and the agency was having financial problems. WMA has hired high-profile Hollywood lawyer Bert Fields, who demanded in a letter to the Rupert Murdoch-owned tabloid the paper run a retraction.

Fields told Variety beyond a retraction, he also intends to unmask the source of the stories -- someone he says is with another talent agency.

"I have a good idea who it was that put the Post up to spreading this vicious load of garbage," Fields said. "When I can make a positive identification, that amoral snake is going to be sorrier than the Post."

Fields' letter specifically referred to a Post story on Sunday, citing sources as saying WMA was financially desperate and might be planning to sell its Beverly Hills, Calif., headquarters to raise cash. Fields called the report "extraordinarily vicious" and said the agency is planning to renovate the building and has been looking for other office space.