ICM Partners has become the latest Hollywood talent agency to partner with a private equity firm, selling a one-third stake in the agency to Crestview Partners for about $150 million. The deal mark…
The deal marks a milestone for the current iteration of ICM, which became a partner-owned agency in May 2012 when Chris Silbermann and 28 other partners bought the company back from its previous private equity partner, Rizvi Traverse Management. Relations between Rizvi and ICM became fraught by the end of the relationship that spanned about seven years.
The influence of private investment cash in the talent agency business has become a point of concern for many in the creative community. The Writers Guild of America has pointed to this trend as a reason for the guild’s effort to tighten the rules of the road for agents that represent WGA members — a conflict that has led to lawsuits and more than 7,000 writers firing agents en masse last April.“The world’s changing night and day,” Silbermann said.
ICM hired investment bank Lazard last year to gauge the market interest in the agency. Crestview Partners felt like the right fit to Silbermann, who went into the investor courtship process with the memory of the Rizvi Traverse conflicts fresh in his mind.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Hot Property: Chartwell sets California's new price record at about $150 millionChartwell, the estate of late billionaire Jerrold A. Perenchio, has sold for the highest price in California history. The buyer is Lachlan Murdoch.
Weiterlesen »
When Only One Spouse Wants to Handle the MoneyMore than half of women in a UBS survey say their spouse still takes the lead on “major financial decisions”
Weiterlesen »
Exclusive: China's BAIC raising Daimler stake to unseat Geely as top shareholder - sourcesDaimler's main China joint venture partner BAIC Group has set in motion a p...
Weiterlesen »
5 Things You Didn’t Know About Squirting—But ShouldIt's equally fun solo or with a partner.
Weiterlesen »
Bigscreen Partners With Paramount for Ticketed VR Movie ScreeningsSan Francisco-based virtual reality startup Bigscreen has teamed up with Paramount Pictures to bring the theater experience to VR headsets: Bigscreen will begin showing classic Paramount movies lik…
Weiterlesen »
Emma Barton pays tribute to partner Anton du Beke on Instagram following Strictly Come Dancing finalEmma Barton breaks her silence following Strictly Come Dancing final. The EastEnders actress and partner Anton du Beke ended the series as runners-up
Weiterlesen »