Creative Artists Agency (CAA) Acquires International Creative Management (ICM) – The Big Four Talent Agencies Become The Big Three Talent Agencies
In blockbuster news, two of the big four talent agencies in Hollywood are coming together and getting married.
Legendary talent agency Creative Artists Agency (CAA) is acquiring the prestigious talent agency International Creative Management (ICM) Partners. This will be one of the biggest talent agency mergers since William Morris and Endeavor got married in the year 2009 to form William Morris Endeavor (WME).
The big four talent agencies Creative Artists Agency (CAA), William Morris Endeavor (WME), United Talent Agency (UTA), and International Creative Management (ICM) are now the big three talent agencies.
Creative Artists Agency (CAA), a leading entertainment and sports agency released a statement:
“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,” said CAA’s Bryan Lourd, Kevin Huvane, and Richard Lovett. “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 representatives also commented:
“We’re thrilled to partner and combine forces with the talented CAA team,” said ICM’s Chris Silbermann, who will join CAA’s shareholder board. “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 empowering new, 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-evolving entertainment, media, and sports landscapes. ICM brings to CAA a global roster of artists in film, television, music, comedy, theater, games, politics, and podcasting. ICM’s industry-leading books division superbly complements CAA’s content-driven motion pictures, television, and podcasting businesses, in addition to its speakers arm, and other divisions. Further, ICM’s London-based ICM Stellar Sports, serves more than 800 clients around the globe and maintains offices in 10 countries.
CAA is a leading entertainment, media, and sports enterprise, with global expertise in motion pictures, television, music, sports, theater, digital media, publishing, endorsements, media finance, consumer investing, fashion, podcasting, speaking, games, and philanthropy. Led by a world-class management team and distinguished by its culture of collaboration and exceptional client service, CAA’s diverse workforce identifies and innovates opportunities for the people and organizations that shape culture and inspire the world. CAA was the first entertainment talent agency to build a sports business, create an investment bank, launch a venture fund, found technology start-up companies, and establish a business in China, among other industry innovations. A subsidiary of CAA, Entertainment Benefits Group (EBG) is a leader in corporate entertainment and travel, with more than 40,000 clients 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 other locations globally.
ICM is one of the world’s premier entertainment, media, sports agencies, dedicated to the global representation of artists, content creators, broadcasters, authors, artisans, journalists, and athletes in film, television, sports, publishing, theater, music, live performance, podcasting, branding, endorsements, product placements, sponsorship, commercials, broadcasting, speaking, and politics. Originally founded in 1975 as International Creative Management, then rebranded as ICM Partners in 2012, ICM has the expertise and influence of a legacy agency, and an entrepreneurial innovative spirit dedicated to serving its clients across the globe with passion and distinction. ICM has offices in Los Angeles, New York, Washington D.C., and London, and strategic partnerships in Europe, Asia, and beyond.
The transaction is expected to close later this year, subject to the satisfaction of customary closing conditions, including the receipt of regulatory approvals. Financial terms were not disclosed.
Allen & Company LLC served as financial advisor for CAA, and Wachtell, Lipton, Rosen & Katz as legal advisor.
Lazard served as financial advisor for ICM, with Sheppard Mullin and Davis Polk & Wardwell LLP as legal advisors.
Final Thoughts:
The ripple effect will be immense, and there will undoubtedly be departures, layoffs, and restructuring. We wonder which clients will stay and which will exit to other talent agencies. Many people went to the smaller International Creative Management (ICM) for fear of being lost in the larger Creative Artists Agency (CAA) system. Now you have a massive number of talent to represent, so how do you stand out in your agent’s minds when they now have to represent some of the most famous and successful talent on planet Earth?
Aside from these worries, it will be extremely interesting to see how this changes the talent agency industry as a whole. For example, International Creative Management (ICM) has a huge publishing and literary division, with direct access to intellectual property that many of the top clients in the industry might want to access in the future.
