Hollywood talent agency CAA completes acquisition of rival ICM Partners

LA-based Creative Artists Agency (CAA) has closed its acquisition of rival talent agency ICM Partners, the companies announced today.

Chris Silbermann

The completion of the deal comes around nine months after CAA first revealed its intention to buy ICM Partners, sending shockwaves through Hollywood and reducing the ‘big four’ Hollywood agencies down to three.

The deal, which had to pass muster with the US Department of Justice, marks the biggest M&A move in the agency space since William Morris Agency and Endeavor merged in 2009 to form WME.

Neither CAA nor ICM have disclosed the price tag but US reports suggest it is somewhere in the region of US$750m. C21 understands that 425 ICM employees will join CAA, while 105 positions are being eliminated.

“Today marks a new chapter in the history of our company, positioning us better than ever to deliver extraordinary opportunities for many of the world’s preeminent artists, athletes, thought leaders, brands, and organisations in entertainment, sports, and culture,” said CAA’s co-chairmen Kevin Huvane, Bryan Lourd and Richard Lovett.

“We are thrilled to welcome our new ICM colleagues to CAA, and look forward to combining their expertise, relationships, and resources with those of our agents and executives around the world. Our diverse range of clients who entertain and inspire large global audiences have never been in more demand, nor have their opportunities been greater. With today’s addition of our new colleagues, the scope of possibilities for helping clients achieve their goals is limitless.”

The combined entity currently has around 3,200 employees working across 25 countries.

Beyond its LA headquarters, CAA has offices in cities includes New York, Nashville, London, Beijing, Shanghai, Chicago, Las Vegas, Miami, Munich, Orlando, Stockholm and Toronto. ICM, meanwhile, has offices in LA, New York, Washington DC and London, in addition to strategic partnerships in Europe and Asia.

ICM CEO Chris Silbermann and MD Ted Chervin added: “Combining with the best-in-class agency to build an even greater representation company for our clients and our colleagues is the core strategic reason for this move.

“We couldn’t be more enthusiastic about our future together, and are energised by the sophisticated, forward-thinking representation we offer clients. This is the ideal next step for our companies.”