As the saying goes, change is inevitable. The world-renowned talent agency, Creative Artists Agency (CAA), has finalized its massive takeover of fellow competitor International Creative Management (ICM) Partners. The business move, valued at $750 million, received the green light from the Department of Justice and Federal Trade Commission nearly 10 months after the initial announcement made back in September 2021.
While 425 ICM employees will join CAA, the acquisition will result in the dissipation of 105 ICM positions and a total of a little more than 3,200 staffers across offices worldwide, including the famous Avenue of the Stars location in Century City, CA. Chris Silbermann, CEO of ICM, will join CAA as co-chairman on its board.
The last time a merger of this magnitude occurred was when William Morris Agency acquired Endeavor to become William Morris Endeavor (WME) in 2009, and later acquired International Management Group (IMG) in 2014. As it stands, the major talent agencies in town are WME, CAA, and United Talent Agency (UTA).
“We are thrilled to welcome our new ICM colleagues to CAA, and look forward to combining their expertise, relationships and resources with those of our agents and executives around the world,” said a statement from CAA heads Kevin Huvane, Bryan Lourd, and Richard Lovett. “Our diverse range of clients who entertain and inspire large global audiences have never been in more demand, nor have their opportunities been greater. With today’s addition of our new colleagues, the scope of possibilities for helping clients achieve their goals is limitless.”
The Hollywood heatwave has caused a disruption of clientele changes, with recent news of Alice Cooper, John Mayer, Devery Jacobs, Josh Gad, and Maria Shriver signing with CAA within the last month.
Founded by Michael Ovitz in 1975, CAA is backed by private equity investor and majority shareholder, TPG, and represents talent in the entertainment and sports fields, including Ava DuVernay, Ryan Murphy, Steven Spielberg, Tom Hanks, Reese Witherspoon, Chris Paul, and Dwyane Wade. The acquisition of ICM will add to the roster the likes of Colin Kaepernick, Ellen DeGeneres, Pete Davidson, and Shonda Rhimes, to name a few.
