The Creative Artists Agency has terminated the acquisition of its small rival ICM Partners with a blockbuster deal set up to reshape the landscape for Hollywood and beyond.
The deal, announced in September, will bring the value of ICM to about $ 750 million, according to two people briefed on the matter. Since the William Morris agency merged with Endeavor in 2009, it is the largest in the industry and has essentially transformed Hollywood into a two-agency town.
Together, CAA and ICM have more than 3,200 employees in 25 countries. The conclusion of the contract is the result of a lengthy review by the Department of Justice, leaving only a few powers. The industry’s largest Endeavor was unveiled last year and is worth about $ 9.8 billion. United Talent Agency lags behind both companies.
Apple, Amazon and Netflix have been focusing on Hollywood in recent years, and traditional media companies like Disney and Discovery have grown to a large scale. The growth potential of these companies and the economics of streaming have changed the way they pay actors, making it difficult to negotiate on their behalf. This makes it difficult for small agencies like ICM to compete.
For heavyweight creative artists, this acquisition adds leverage as actors, directors, writers and producers jump into the studio beyond the rewards of the streaming era. It also has a significant impact on publishing and sports, given ICM’s substantial book sector and sports assets.
CAA’s clients include Tom Hanks, Steven Spielberg, Zendaya, Ava DuVernay, Ryan Murphy, Reese Witherspoon, and ICM represents Shonda Rhimes, Ellen DeGeneres, Samuel L. Jackson, Pete Davidson and more. doing.
Brooks Burns Report that contributed.
