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CAA to buy rival ICM Partners in merger of major Hollywood talent agencies

Creative Artists Agency (CAA) said on Monday it would buy rival ICM Partners, in a deal that will merge two major Hollywood talent agencies.

The deal, which is set to close later this year, will give CAA access to ICM's entire roster of talent that includes "Bridgerton" Producer Shonda Rhimes and actors Eugene Levy and Catherine O'Hara.

CAA and ICM represent two of the Hollywood's "big four" talent agencies, the others being United Talent Agency (UTA) and Endeavor Group Holdings Inc's William Morris Endeavor (WME).

The financial terms of the merger were not disclosed. According to media reports, ICM sold a one-third stake to private equity firm Crestview Partners for about US$150 million in 2019.

Allen & Company LLC served as financial adviser to CAA, while Lazard advised ICM.

(Reporting by Uday Sampath in Bengaluru; Editing by Vinay Dwivedi)

Source: Reuters

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