Creative Artists Agency Acquires ICM Partners
Leading entertainment and sports agency Creative Artists Agency (CAA) announced today the execution of a definitive agreement to acquire ICM Partners (ICM), another agency, “to drive broader and more inclusive representation as their clients, their work, and their brands shape culture.”
“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.”
“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,” according to a press release. “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.”
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.