Media and entertainment conglomerate Liberty Media Corporation is reportedly in talks to acquire a stake in Creative Artists Agency (CAA), according to the UK's Financial Time (FT) newspaper.
Liberty owns racing brand Formula 1, 71 per cent of multimedia platform SiriusXM and 34 per cent of Live Nation Entertainment, while CAA has more than 3,000 clients across film, sport and music, including Ed Sheeran, Beyoncé, Bruce Springsteen and Lady Gaga.
Private equity firm TPG, which has a 60 per cent stake in CAA, is not involved in the discussions, according to the FT. The company took a 35 percent shareholding in CAA in 2010, when it invested about $166 million, raising its stake to a 53 per cent in 2014, an option to increase to 60 per cent.
Posted on: 14/02/2019Categories: News from Audience Magazine