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Paradigm Talent Agency CEO Sam Gores has told staff once again the company is not on the market, amid rumours of takeover talks with CAA
By IQ on 03 Feb 2020
Sam Gores, CEO of Paradigm Talent Agency, has reiterated the company is not for sale, following US media reports over the weekend that linked the agency with a takeover by CAA.
Hollywood rival CAA (Creative Artists Agency) has “had exploratory discussions to buy Paradigm Talent Agency”, according to the LA Times, which cites two people familiar with the matter.
The discussions reportedly began last year after Paradigm pulled out of a deal to be acquired by United Talent Agency (UTA), which had similarly sought to take control of Paradigm’s powerhouse music division. The agency’s roster of globally represented artists includes Halsey, Imagine Dragons, Janet Jackson, Kacey Musgraves, Tiësto, Shawn Mendes, Sia, Kenny Chesney, Jess Glynne, Charli XCX, Bastille and Sturgill Simpson, as well as teen phenom Billie Eilish, who swept the Grammys last month, winning all four top awards.
“As I have said before, we like the independent and successful path we’re on”
According to Deadline, Paradigm is increasingly focusing on its strengths in music, and recently closed its unscripted TV department, laying off 30 agents. In total, the agency scored 85 Grammy nominations and 24 wins; its dominance in the festival space, meanwhile, was underscored recently by a much-shared Rostr infographic showing the agency breakdown at Coachella 2020, which gives Paradigm 35% of all acts. (CAA has 13%.)
In an email to staff on Saturday, Gores underscored “emphatically” that Paradigm is “not for sale, nor are we selling the agency”.
Per Deadline, Gores’s email in full reads:
I want to address a recent press report suggesting the potential sale of Paradigm. Let me state emphatically – we are not for sale, nor are we selling the agency.
As many of you are aware, the influx of private equity into talent agencies and the WGA stand-off, among other factors, are pushing agencies to pursue strong, diversified companies such as Paradigm.
As I have said before, we like the independent and successful path we’re on. Our focus continues to be growing Paradigm and providing the best possible opportunities for our colleagues, our artists and the art that they create.
Let’s ignore the chatter and idle speculation and stay focused on the important work at hand. I look forward to seeing you at Town Hall on Monday.
Speaking in June 2019, Gores said UTA’s offer for Paradigm would have “represented one of the largest talent agency transactions in the history of our business”, but that the latter preferred to go it alone.
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