LOS ANGELES (CelebrityAccess) — For the second time in a year, Paradigm founder and CEO Sam Gores had denied that the talent agency is on the block.
According to Variety, Gores this time responded to a report in the Los Angeles Times that the agency was in talks over a potential sale to Creative Artists Agency.
On Friday, Gores responded to the Times story with a company-wide email denying the reported negotiation, writing “Let me state emphatically – we are not for sale, nor are we selling the agency,” Variety reported.
In June, news broke that Paradigm had been in talks with UTA over a possible merger, but later announced that they had backed away from the deal.
Earlier this month, Paradigm downsized its staff, cutting about 30 agents as well as support staff from the employment roles.
The full text of the email from Gores obtained by Variety:
Dear Colleagues:
I want to address a recent press report suggesting the potential sale of Paradigm. Let me state emphatically – we are not for sale, nor are we selling the agency.
As many of you are aware, the influx of private equity into talent agencies and the WGA standoff, among other factors, are pushing agencies to pursue strong, diversified companies such as Paradigm.
As I have said before, we like the independent and successful path we’re on. Our focus continues to be growing Paradigm and providing the best possible opportunities for our colleagues, our artists and the art that they create.
Let’s ignore the chatter and idle speculation and stay focused on the important work at hand. I look forward to seeing you at Town Hall on Monday.
Sam
