CAA TO BUY ICM

In a deal that will take the major players in Hollywood down to three, Creative Artists Agency is buying ICM Partners. The transaction is expected to close later this year. Financial terms were not disclosed.

CAA brass—Bryan Lourd, Kevin Huvane and Richard Lovett—explained the move. “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,” they said in a joint statement.

“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.”

ICM’s strengths are in its books division and the London-based ICM Stellar Sports, which serves more than 800 clients around the globe and maintains offices in 10 countries. CAA is in the content business—motion pictures, television, podcasting, speakers and music.

The Rob Light-led CAA music division was extraordinarily busy during the 18 months that concerts were a no-go, especially in the virtual space.

In February, ICM realigned its concerts division, making Mark Siegel the Head of Worldwide Concerts, Robert Gibbs Head of Music and Matt Bates Head of International/Europe.

The deal would leave WME, CAA and UTA as the leading talent agencies in Hollywood.

While expanding CAA’s portfolio, it gives the agency’s majority owner, TPG Capital, more fodder as it explores going public, following the lead of Endeavor, which owns WME and went public in April.

ICM’s Chris Silbermann, who will join CAA’s shareholder board, said, “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 empower new, diverse voices within the industry.”