Kassan, MediaLink rivalry headed to CES
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The messy legal battle between United Talent Agency and Michael Kassan will be a hot topic of industry conversation next month as Kassan plans to debut his rival firm, 3C Ventures, at the Consumer Electronics Show, sources told Axios.
Why it matters: CES will serve as an informal coming-out party for Kassan's new venture — and an opportunity for MediaLink to showcase its relevance without him.
- In the past, MediaLink hosted a big kickoff party at CES on Monday night. This year, MediaLink is not hosting its kickoff event, although it will still host its annual CES executive dinner on Tuesday.
- Kassan will host a dinner Monday night for clients that will serve as an informal kickoff for his new business.
Catch up quick: Kassan left UTA in March amid claims from the agency that he had misused company funds to cover personal expenses.
- Kassan claims UTA, which spent $125 million to acquire MediaLink in 2021, only purchased the company to ruin his reputation, which UTA vehemently denies.
- Arbitration between the two parties is ongoing. Neither party commented for this story.
Zoom in: Since his exit, Kassan has been building his own consulting firm, 3C Ventures, and he's hired more than a dozen people — many of whom are former MediaLink employees.
- Kassan began teasing his new firm at Possible, a marketing industry conference, in the spring. He hosted an event for marketers at the annual Cannes Lions conference over the summer at the same upscale venue where MediaLink has for years hosted its splashy and exclusive Cannes Lions executive dinner.
- 3C Ventures, which stands for consult, convene and co-invest, is looking to bring strategy consulting alongside operational expertise to media and marketing executives working on mergers and acquisitions, corporate transformation, etc. The firm has already started working with clients on major deals.
- Bill Wise, the co-founder and CEO of ad tech giant Mediaocean, recently credited Kassan and 3C Ventures in his deal to acquire Innovid, another ad tech firm, writing, "their help in orchestrating this powerful deal for the [industry] … there is power in independence & neutrality!!!"
The other side: MediaLink's business has evolved over the past year to focus on full-funnel advisory work for media and marketing clients, helping them with the strategy, planning and execution of new business ideas, such as deals, product development and sales strategy.
- That firm today is less focused on networking via big, glitzy events and more focused on discreet strategic services combined with smaller, more private networking events.
- The company, which announced a new leadership team in the wake of Kassan's departure, will still host its annual executive dinners at CES and Cannes, but it'll focus more on intimate salon-type gatherings moving forward.
Zoom out: Kassan's departure from MediaLink has had a short-term impact on its business, but that does not suggest its future is doomed without him.
- The firm brought in roughly $73 million in top-line revenue in 2023 and is projecting over $65 million in 2024, the vast majority of which is already recognized, according to a source familiar with its figures.
What to watch: Kassan, 74, has already identified key candidates to succeed him at 3C Ventures upon his eventual retirement, a source told Axios.
Editor's note: This article has been corrected to state that Kassan left UTA (not that he was fired).
