CAA in talks to acquire ICM partners – Deadline

UPDATE: CAA formalized this successful agreement that we pursued throughout the weekend. Find the version below the original Deadline scoop.

EXCLUSIVE: Creative Artists Agency acquires ICM Partners, a massive deal that would be the largest combination of two major agencies since WMA and Endeavor. The deal is expected to be concluded before the end of the year.

There are a lot of details that need to be worked out, because it was done very quickly. There will surely be reactions from the guilds and on antitrust issues. But at a time when content creators are on the rise in M&A transactions, why not agencies? The intention here is that after all the drama of the pandemic and the end of the packaging business after a protracted conflict with WGA, CAA is doubling down on its engagement in the advocacy business. This includes not only film and television, but also sports, publishing and ancillary businesses. Uniting these agencies would bring together its collective strengths and workforce to ensure a more viable talent representation at a time when studio-owned conglomerates are leaning heavily on streaming as the future of entertainment consumption. While theatrical movies are always part of the equation, a streaming future means that it’s up to the agencies and the talent they represent to do as much as possible up front, as there will often not be the box office bonuses and the breakeven point of raw deals that made cinematic stardom so lucrative.

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As seen in the ongoing lawsuit between CAA star Scarlett Johansson and Disney over diminished returns after the studio released the film on a premium Disney + level as well as theatrically. As was the case when WarnerMedia put its entire 2021 movie slate for simultaneous release on its HBO Max streaming service, talent and their representatives have no say in distribution platform changes. But artists have certainly found increased leverage by being part of agency-generated packages that appeal to both studios and streamers because they are off-the-shelf movies. Huge artist salaries resulted in packages like the Netflix deal for two Knives Out sequels that reached north of $ 450 million, to the $ 130 million deal Apple made for the drama Will Smith Antoine Fuqua Emancipation, to the recent deal where Christopher Nolan chose Universal as the new home to make his next film, about physicist J. Robert Oppenheimer and his role in perfecting the A-bomb during WWII.

While CAA and ICM find themselves in comparable businesses, ICM can bring a lot to the table here, from its powerful publishing business to its expansion into global sport with its acquisition last year of London-based sports agency Stellar Group. , a stronghold of footballer. customers in leagues around the world. The current ICM partners are the result of mergers and acquisitions after Jeff Berg and Rizvi Traverse were acquired and took with them many legacy television packages.

Mergers and acquisitions have always played an important role in ICM, formed in 1975 by the merger of Creative Management Associates and the International Famous Agency. ICM’s 2006 acquisition of boutique literary agency Broder Webb Chervin Silbermann brought in the agency’s current management, CEO Chris Silbermann and Managing Director Ted Chervin, as well as most of ICM Partners’ TV department. whose client list includes top Shonda Rhimes showrunners, Ted Lasso ‘Bill Lawrence, breaking Badby Vince Gilligan, The good doctorby David Shore and The Handmaid’s Taleis Bruce Miller.

Following the sale in December 2019 of a third-party stake to Crestview Partners for $ 150 million to finance its international growth, ICM Partners embarked on a wave of acquisitions that made it a force in the representation of athletes in sports to supplement its strength in television. and editing. Starting with the acquisition of London-based Primary Talent International in March 2020, and the acquisition of a significant minority stake in Stockholm, Sweden-based boutique lighting agency Albatros in August 2020, ICM Partners made its biggest acquisition last October with London. Stellar Group, a powerful football and sports agency, which represents more than 800 athletes, created ICM Stellar Sports. Last July, the new sports division made its first acquisition with the purchase of Select Sports Group, an independent agency that represents coaches, players and officers of the NFL.

AN AGENCY OF CREATIVE ARTISTS TO ACQUIRE ICM PARTNERS

Combination to create new opportunities for customers all over the world

LOS ANGELES (September 27, 2021) – Leading sports and entertainment agency Creative Artists Agency (CAA) today announced the signing of a definitive agreement to acquire ICM Partners (ICM), one of the leading entertainment and sports agencies in the world, to expand and more inclusive representation as their clients, their work and their brands shape culture.

“Today’s storytellers, athletes, thought leaders and trendsetters who can move, inspire and attract large global audiences have an unprecedented opportunity and ability to achieve their goals and aspirations.” said CAA’s Bryan Lourd, Kevin Huvane and Richard Lovett. . “The strategic combination of CAA and ICM strengthens our collective resources, expertise and relationships to provide even more opportunities for our world-class clients to build their careers and brands across multiple disciplines and platforms in a growing market. evolution. Our strong financial position allows us to continue to develop and diversify our business, with service and representation remaining at the heart of what we do and who we are. We are fortunate to have a partner in ICM who shares our commitment to the broadest and most inclusive vision possible of what our clients and our business can accomplish together.

“We are delighted to partner and combine our strengths with the talented CAA team,” said Chris Silbermann of ICM, who will join CAA’s board of shareholders. “Together, we will build on our accomplishments and our entrepreneurial spirit, and continue to demonstrate an unwavering commitment to the best interests of our customers, as well as empowering new and diverse voices within the industry. “

The complementary combination of CAA and ICM will create deeper, broader and more competitive opportunities for clients in the ever-changing landscapes of entertainment, media and sports. The ICM brings to CAA a global roster of artists from the fields of film, television, music, comedy, theater, games, politics and podcasting. ICM’s industry-leading books division perfectly complements CAA’s content-focused film, television and podcasting businesses, in addition to its loudspeakers and other divisions. Additionally, London-based ICM Stellar Sports serves more than 800 clients worldwide and has offices in 10 countries.

CAA is a leading entertainment, media and sports company with global expertise in film, television, music, sports, theater, digital media, publishing, sponsors, media funding, consumer investment, fashion, podcasting, speech, games and philanthropy. . Led by a world-class leadership team and distinguished by its culture of collaboration and exceptional customer service, CAA’s diverse workforce identifies and innovates opportunities for the people and organizations that shape the culture and inspire the world. . CAA was the first entertainment talent agency to start a sports business, establish an investment bank, launch a venture capital fund, found tech start-ups, and establish a business in China, among others. industry innovations. A subsidiary of CAA, Entertainment Benefits Group (EBG) is a leading entertainment and corporate travel company with more than 40,000 customers and 60 million users. Founded in 1975, CAA is headquartered in Los Angeles and has a significant presence in New York, Nashville, London, Beijing and Shanghai, as well as offices in Atlanta, Charlotte, Chicago, Dallas, Denver, Geneva, Jacksonville, Las Vegas, Memphis, Miami, Munich, Orlando, Stockholm and Toronto, among others in the world. For more information, please visit http://www.caa.com.

ICM is one of the world’s leading entertainment, media and sports agencies, dedicated to the global representation of artists, content creators, broadcasters, authors, artisans, journalists and athletes. in the fields of cinema, television, sport, publishing, theater, music and performing arts. , podcasting, branding, recommendations, product placements, sponsorship, advertising, broadcasting, public speaking and politics. Originally founded in 1975 as International Creative Management, then renamed ICM Partners in 2012, ICM has the expertise and influence of a traditional agency, and an innovative entrepreneurial spirit dedicated to serving its clients at around the world with passion and distinction. ICM has offices in Los Angeles, New York, Washington DC and London, and strategic partnerships in Europe, Asia and beyond. For more information, please visit http://www.icmpartners.com.

The transaction is expected to close later this year, subject to the satisfaction of customary closing conditions, including receipt of regulatory approvals. Financial terms were not disclosed.