Talent agencies evaluate potential investments
Two Hollywood management firms have hired lawyers to explore selling a part or all of their businesses, Bloomberg reports.
Why it matters: Private equity firms have flooded Hollywood with investments into production studios like A24 and the creation of Candle Media. Now they're eyeing another crucial part of the business.
Details: Per Bloomberg, Entertainment 360 and Brillstein Entertainment Partners have hired Raine and Moelis & Co., respectively.
- Bloomberg suggests that both firms have received inbound interest from potential investors and are evaluating their options.
Context: This comes as the Big 3 talent agencies have made big moves.
- Creative Artists Agency acquired ICM Partners.
- United Talent Agency secured an investment from EQT. It also formed a strategic partnership with Investcorp, its previous stakeholder.
- Endeavor has been highly acquisitive. Last month, its acquisition of sports betting company OpenBet closed. In August, it bought a majority stake in Barrett-Jackson, a collector car auction company.