LOS ANGELES (CelebrityAccess) – Los Angeles-based Creative Artists Agency (CAA), one of the biggest entertainment and talent agencies in the world, is nearing a $7 billion deal with French billionaire Fran\u00e7ois-Henri Pinault<\/strong> \u2013 the man behind the luxury and fashion empire The Kering Group (Kering) and the husband of actress Salma Hayek<\/strong> (m. 2009), with whom he shares a daughter.<\/p>\n

The deal would have CAA, founded in 1975 and backed by private equity firm TPG Capital (TPG), getting at least $7 billion, Bloomberg News<\/em><\/span><\/a> reported on Wednesday (August 30), citing people familiar with the matter.<\/p>\n

The news outlet first reported<\/span><\/a> on the talks for a deal in July. But sources at the time said that talks for a majority stake in TPG-backed CAA \u2018could still end without an agreement\u2019.<\/p>\n

Pinault is behind The Kering Group, whose ownership portfolio includes brands and fashion houses from Balenciaga, Saint Laurent, Gucci, Brioni, Alexander McQueen<\/strong> and more, as well as Kering Eyewear. Kering\u2019s parent company (Artemis Group) was set up in 1992 and counts publishing house Editions Tallandier<\/strong> as an asset, owns a stake in sports brand Puma<\/strong> and has made investments in ByteDance<\/strong> and Deezer.<\/strong><\/p>\n

CAA was started by five agents (Michael S. Rosenfeld, Michael Ovitz, Ronald Meyer, William Haber<\/strong> and Rowland Perkins<\/strong>) who were working at the William Morris Agency (WMA), which morphed into William Morris Endeavor (WME).<\/p>\n

In 2010, TPG bought a 35% stake in CAA and upped that stake to a reported 53% in 2014. In September 2017, CAA announced that Temasek had acquired a minority stake in its business \u2013 however, TPG retained its majority position following the Temasek purchase.<\/p>\n

In 2021, CAA made its own acquisition, snapping up rival entertainment and sports agency ICM Partners (ICM). The deal was reported (at the time) to be valued at $750 million with \u201ca pro-forma\u201d enterprise value of $5 billion for the combined firm. CAA promoted CFO James Burtson<\/strong> to President in 2021.<\/p>\n

According to the new Bloomberg<\/em> report, the parties are anticipated to wrap up negotiations within the next couple of weeks, although the deal could still \u2018fall apart\u2019.<\/p>\n

Today, CAA has offices around the globe (Shanghai, Atlanta, New York, London, Chicago, Toronto and more) and represents an expansive roster of prominent and in-demand talent working in film, TV, music, video games, theatre, digital content and sports. Some include Adam Driver, Kristen Stewart, Tom Cruise, Tom Hanks,<\/strong> and Jennifer Aniston<\/strong>, among others.<\/p>\n

The company represents some of the world\u2019s biggest names in comedy, touring and music, such as Alabama, A$AP Rocky, Lady Gaga, Tim McGraw, Justin Bieber, Red Hot Chili Peppers, Ariana Grande, Miley Cyrus<\/strong> and more.<\/p>\n","protected":false},"excerpt":{"rendered":"

LOS ANGELES (CelebrityAccess) – Los Angeles-based Creative Artists Agency (CAA), one of the biggest entertainment and talent agencies in the world, is nearing a $7 billion deal with French billionaire Fran\u00e7ois-Henri Pinault \u2013 the man behind the luxury and fashion empire The Kering Group (Kering) and the husband of actress Salma Hayek (m. 2009), with<\/p>\n","protected":false},"author":36,"featured_media":137495,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_stc_notifier_status":"sent","_stc_notifier_sent_time":"2023-08-31 11:32:47","_stc_notifier_request":false,"_stc_notifier_prevent":false,"_stc_subscriber_keywords":"","_stc_subscriber_search_areas":"","footnotes":""},"categories":[70,51,75,22],"tags":[20585,20586,744],"class_list":["post-139725","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-agency-management","category-breaking-news","category-business-news","category-industry_news","tag-theartemisgroup","tag-thekeringgroup","tag-caa"],"acf":[],"yoast_head":"\n