Entertainment

CAA In Talks To Acquire ICM Partners – Deadline


UPDATE: CAA has made it official, this blockbuster deal we’ve chased all weekend. Find launch under the unique Deadline scoop.

EXCLUSIVE: Creative Artists Agency is buying ICM Partners, a mammoth deal that will be the largest becoming a member of forces of two main businesses since WMA and Endeavor. Expectation is that the deal will probably be accomplished earlier than the yr is out.

Many particulars should be labored out, as this got here collectively lightning fast. There will certainly be response from guilds and on anti-trust issues. But in a second the place content material creators are getting greater in M&A offers, why not businesses? The intention right here is, after the entire drama of the pandemic and the ending of the packaging enterprise after a protracted dispute with WGA, CAA is doubling down on its dedication to the illustration enterprise. That consists of not solely movie and tv, but in addition sports activities, publishing and ancillary companies. The union of those businesses would carry its collective strengths and manpower collectively to make for extra viable expertise illustration at a time when studio-owning conglomerates are leaning closely into streaming as the way forward for leisure consumption. While theatrical moviegoing will all the time be a part of the equation, a streaming future signifies that it’s incumbent on businesses and the expertise they rep to make as a lot upfront as potential, as a result of there usually won’t be the field workplace bonuses and break even gross offers that made film stardom so profitable.

As was seen within the ongoing lawsuit between CAA-repped star Scarlett Johansson and Disney over the diminished returns after the studio launched the film on a premium tier of Disney+ in addition to theatrical. As was the case when WarnerMedia put its complete 2021 movie slate for simultaneous launch on its streaming service HBO Max, expertise and their reps haven’t any say in distribution platform switches. But artists definitely have discovered elevated leverage by being a part of agency-generated packages that attraction to each studios and streamers as a result of these are able to go movies. Humungous artist paydays have resulted with packages just like the Netflix deal for 2 Knives Out sequels that reached north of $450 million, to the $130 million-ish deal that Apple made for the Will Smith Antoine Fuqua drama Emancipation, to the current deal the place Christopher Nolan selected Universal as a brand new residence to make his subsequent movie, about physicist J. Robert Oppenheimer and his function in perfecting the A Bomb throughout WWII.

While CAA and ICM discover themselves in comparable companies, ICM can carry a lot to the desk right here, from its powerhouse publishing enterprise to its enlargement into international sports activities with its acquisition final yr of the London-based sports activities company Stellar Group, a stronghold of soccer participant purchasers in leagues all around the world. The present ICM Partners is a results of M&As after Jeff Berg and Rizvi Traverse had been purchased out and took many legacy TV packages with them.

M&As have all the time performed an vital function in ICM, shaped in 1975 by way of the merger of Creative Management Associates and International Famous Agency. ICM’s 2006 acquisition of boutique literary company Broder Webb Chervin Silbermann introduced on the company’s present management, CEO Chris Silbermann and Managing Director Ted Chervin, in addition to the majority of ICM Partners’ TV lit division whose shopper checklist consists of high showrunners Shonda Rhimes, Ted Lasso’s Bill Lawrence, Breaking Bad’s Vince Gilligan, The Good Doctor’s David Shore and The Handmaid’s Tale’s Bruce Miller.

Following the Dec. 2019 sale of a one-third fairness stake to Crestview Partners for $150M to fund worldwide development, ICM Partners has been on an acquisition spree that has made it a power in athlete illustration in sports activities to enhance its energy in TV lit and publishing. Starting with the acquisition of music-focused London-based Primary Talent International in March 2020 and the pickup of a big minority stake within the Stockholm, Sweden-based boutique lit company Albatros in August 2020, ICM Partners made its largest acquisition final October with London-based powerhouse soccer and sports activities company Stellar Group, which represents greater than 800 athletes, to ascertain ICM Stellar Sports. This previous July, the brand new sports activities division made its first acquisition with the acquisition of Select Sports Group, an indie company that reps NFL coaches, gamers and executives.

CREATIVE ARTISTS AGENCY TO ACQUIRE ICM PARTNERS

Combination to Create New Opportunities for Clients Across the Globe

LOS ANGELES (September 27, 2021) – Leading leisure and sports activities company Creative Artists Agency (CAA) introduced immediately the execution of a definitive settlement to amass ICM Partners (ICM), one of many world’s premier leisure and sports activities businesses, to drive broader and extra inclusive illustration as their purchasers, their work, and their manufacturers form tradition.

“Today’s storytellers, athletes, thought-leaders, and trend-setters who can move, inspire, and attract large, global audiences have unprecedented opportunity and ability to achieve their goals and aspirations,” mentioned CAA’s Bryan Lourd, Kevin Huvane, and Richard Lovett. “The strategic combination of CAA and ICM bolsters our collective resources, expertise, and relationships to deliver even more opportunities for our world-class clients to build their careers and their brands across multiple disciplines and platforms in an evolving marketplace. Our strong financial position enables us to continue to expand and diversify our businesses, with service and representation remaining central to what we do and who we are. We’re fortunate to have a partner in ICM who shares our commitment to the widest and most inclusive vision possible for what our clients and company can accomplish together.”

“We’re thrilled to partner and combine forces with the talented CAA team,” mentioned ICM’s Chris Silbermann, who will be part of CAA’s shareholder board. “Together, we will build upon our accomplishments and entrepreneurial spirit, and continue to demonstrate an unwavering commitment to the best interests of our clients, as well as empowering new, diverse voices within the industry.”

The complementary mixture of CAA and ICM will create deeper, broader, and extra aggressive alternatives for purchasers within the ever-evolving leisure, media, and sports activities landscapes. ICM brings to CAA a world roster of artists in movie, tv, music, comedy, theater, video games, politics, and podcasting. ICM’s industry-leading books division fantastically enhances CAA’s content-driven movement footage, tv, and podcasting companies, along with its audio system arm, and different divisions. Further, ICM’s London-based ICM Stellar Sports, serves greater than 800 purchasers across the globe and maintains places of work in 10 nations.

CAA is a number one leisure, media, and sports activities enterprise, with international experience in movement footage, tv, music, sports activities, theater, digital media, publishing, endorsements, media finance, shopper investing, trend, podcasting, talking, video games, and philanthropy. Led by a world-class administration workforce and distinguished by its tradition of collaboration and distinctive shopper service, CAA’s various workforce identifies and innovates alternatives for the folks and organizations that form tradition and encourage the world. CAA was the primary leisure expertise company to construct a sports activities enterprise, create an funding financial institution, launch a enterprise fund, discovered expertise start-up corporations, and set up a enterprise in China, amongst different {industry} improvements. A subsidiary of CAA, Entertainment Benefits Group (EBG) is a frontrunner in company leisure and journey, with greater than 40,000 purchasers and 60 million customers. Founded in 1975, CAA is headquartered in Los Angeles, and has a big presence in New York, Nashville, London, Beijing, and Shanghai, in addition to places of work in Atlanta, Charlotte, Chicago, Dallas, Denver, Geneva, Jacksonville, Las Vegas, Memphis, Miami, Munich, Orlando, Stockholm, and Toronto, amongst different places globally. For extra information, please go to http://www.caa.com.

ICM is among the world’s premier leisure, media, sports activities businesses, devoted to the worldwide illustration of artists, content material creators, broadcasters, authors, artisans, journalists, and athletes in movie, tv, sports activities, publishing, theater, music, stay efficiency, podcasting, branding, endorsements, product placements, sponsorship, commercials, broadcasting, talking, and politics. Originally based in 1975 as International Creative Management, then rebranded as ICM Partners in 2012, ICM has the experience and affect of a legacy company, and an entrepreneurial modern spirit devoted to serving its purchasers throughout the globe with ardour and distinction. ICM has places of work in Los Angeles, New York, Washington D.C., and London, and strategic partnerships in Europe, Asia, and past. For extra information, please go to http://www.icmpartners.com.

The transaction is anticipated to shut later this yr, topic to the satisfaction of customary closing circumstances, together with the receipt of regulatory approvals. Financial phrases weren’t disclosed.



Source Link – deadline.com

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