CAA to acquire ICM Partners in massive talent agency deal
Creative Artists Agency (CAA) said Monday it is acquiring ICM Partners in a deal that marks the biggest combination of talent firms since William Morris Agency and Endeavor Talent Agency merged in 2009 to create what is now referred to as WME.
Why it matters: The deal will create a talent juggernaut at a time when Hollywood studios are vying to represent more people across a greater number of platforms.
Details: In a statement, CAA’s Bryan Lourd, Kevin Huvane and Richard Lovett said the combination of the two firms "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."
- ICM’s Chris Silbermann will join CAA’s shareholder board.
- Deal terms were not disclosed.
What they're saying: "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," Lourd, Huvane and Lovett added.
- “We’re thrilled to partner and combine forces with the talented CAA team,” ICM’s Chris Silbermann said in a statement, adding that together the two would empower "new, diverse voices within the industry.”
What to watch: The deal, which the two parties say they expect to close by the end of the year, is subject to regulatory scrutiny. Anti-trust regulators in Washington have been paying more attention to consolidation in Hollywood.