Friday, January 11, 2019
Report: Liberty Media Kicking Tires At CAA
According to a report in the Financial Times, Liberty Media is ‘in talks’ to acquire a stake in Creative Artists Agency, which represents the live careers of artists ranging from Lady Gaga to Ariana Grande, Bob Dylan, Carrie Underwood, Ed Sheeran and Kanye West. CAA also represents a host of talent in the world of sport – an industry Liberty knows well as the owner of motorsport giant Formula One.
Los Angeles-headquartered CAA’s current shareholders include private equity firm TPG – also an investor in Spotify – which owns 60% of the agency.
When TPG upped its stake in CAA in 2014 in a $225m deal, the talent agency was valued at more than $1B.
CAA and Liberty Media declined to comment on today’s rumor.
According to musicbusinessworldwide.com, Liberty is likely to be keen to acquire a “substantial stake” in CAA, although it cited sources briefed on the negotiations who said there was no guarantee of a deal being reached.
Liberty Media is run by CEO Greg Maffei and Chairman John Malone. Maffei is also Chairman of SiriusXM, Live Nation and TripAdvisor.
Posted 1:18:00 AM