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The Creative Artists Agency has secured a rival ICM team, including two strong defense groups amidst major changes in Hollywood and sports companies around the world.
The agreement, which is expected to expire at the end of the year, comes after skilled corporations were forced to fire their co-workers for reducing epidemic incidence and delaying production costs. The financial statements have not been disclosed.
This will be the first professional collaboration since the William Morris Agency including Endeavor in 2009. Endeavor, led by Hollywood impresario Ari Emanuel, was sponsored by the Silver Lake fundraiser for ten years and went public in April. It has a market capitalization of $ 12.5bn.
The alliance will bring CAA clients – including Scarlett Johansson, Tom Hanks and Steven Spielberg – under the same roof as Al Pacino of ICM, Susan Sarandon and Jodie Foster.
The independent trading company TPG invested in the CAA in 2010, and took a major stake after four years in a deal that paid the company more than $ 1bn.
The deal came at a time when economists were looking for ways to capitalize on the rising cost of living while music and television were developing new ways to earn money in the old picture books which led to an increase in television production.
The CAA, based in Los Angeles, is influential in film, TV, music and sports. In addition to its video, video and theater productions, ICM has a strong book division. ICM last year acquired ICM Stellar Sports from London, which has more than 800 customers worldwide. Both groups boast of their strengths in emerging venues such as podcasting.
“The integration of CAA and ICM promotes all our resources, expertise and relationships to provide more opportunities for our global clients to deliver their services and products in various locations and platforms in a changing market,” CAA said.