François-Henri Pinault is close to a $7 billion deal to buy a majority stake in Creative Artists Agency, a global management giant whose list includes everyone from Bruce Springsteen to Beyonce when it comes to music, as well as Brad Pitt and Pino’s same wife Salma Hayek, if talk about music. we’re talking about cinema.
A French billionaire whose family controls a luxury goods empire is claiming a majority stake in private equity firm Tpg Inc. Temasek Holdings Pte, Singapore’s state-owned investment company, may also increase its stake in Caa by purchasing China’s Cmc Capital.
Caa’s $7 billion valuation represents an increase from last year’s $5.5 billion valuation following the acquisition of rival agency ICM Partners. In short, the 61-year-old Pino is committed to building one of Hollywood’s most stable and influential institutions at a difficult time for media deals. The ratings of most media companies have fallen due to the collapse of pay TV, rising interest rates and strikes by writers and actors.
However, the Pinault family sees Caa as a way to invest in celebrity value and may be able to use some of these celebrities to support their other business. The family is the largest shareholder of Kering Sa, which owns Gucci and other luxury brands. The Pinaults also control Christie’s auction house and wineries through a holding company.
Founded in 1975 by partners such as Michael Ovitz and Ron Meyer, Caa has become Hollywood’s largest agency. It is the leading management company for actors, directors, writers, producers, athletes and musicians. Brian Lourd, Kevin Huvain, and Richard Lovett have run the agency since the mid-1990s, when they were called the “young Turks”. All three are expected to remain with the company.
All of Hollywood’s biggest talent agencies have raised money over the past decade to develop new businesses. Endeavor Group Holdings Inc. has been the most aggressive, buying the Ultimate Fighting Championship, Professional Bull Riders and, most recently, World Wrestling Entertainment Inc. Her talent agency Wme now accounts for about a third of sales and profits. United Talent Agency, the third largest firm, last year sold a stake to Swedish private equity firm Eqt Ab.