Hollywood agents feel the showbiz squeeze - Reuters

ureturet.blogspot.com

A parking valet stands outside the Creative Artists Agency building in Los Angeles, California, September 24, 2012. REUTERS/Jonathan Alcorn

NEW YORK, Sept 28 (Reuters Breakingviews) - TPG-backed Creative Artists Agency is acquiring ICM Partners, the companies said on Monday. The tie-up creates more leverage as the folks on the other side of the table like Walt Disney (DIS.N) and Warner Media reorient their business to streaming from movie theaters and television read more . The once glamorous work of representing stars like Scarlett Johansson, who's in a legal fight with Disney, is under pressure as a result.

CAA rival Endeavor (EDR.N) is taking a different approach. The $12 billion group led by Ari Emanuel struck its own deal on Monday to acquire sports-betting business OpenBet for $1.2 billion. The move bolsters its presence in sports and further distances the company from its historical bread and butter of representation. Endeavor’s sports properties, including the Ultimate Fighting Championship , already accounted for 79% of its adjusted EBITDA for the quarter to June. Emanuel is betting it's an easier way to make a buck than keeping the talent happy. (By Jennifer Saba)

On Twitter http://twitter.com/breakingviews

Capital Calls - More concise insights on global finance:

UK $1.5 bln software buyout is fittingly cheap read more

BHP’s climate plans miss the target read more

Goldman fund IPO leaves little on the table read more

Battle for Italy’s Generali is far from over read more

Fed retirements help Powell read more

Editing by Richard Beales and Marjorie Backman

Reuters Breakingviews is the world's leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time.

Sign up for a free trial of our full service at https://www.breakingviews.com/trial and follow us on Twitter @Breakingviews and at www.breakingviews.com. All opinions expressed are those of the authors.

Adblock test (Why?)

"Hollywood" - Google News
September 28, 2021 at 10:23PM
https://ift.tt/3zTWL1T

Hollywood agents feel the showbiz squeeze - Reuters
"Hollywood" - Google News
https://ift.tt/38iWBEK
Shoes Man Tutorial
Pos News Update
Meme Update
Korean Entertainment News
Japan News Update

Bagikan Berita Ini