The Boot Camp Of Billionaires – Sun Valley July 12-15
Francois-Henri Pinault started discussions to buy talent management company CCA.
Walt Disney Co.’s Bob Iger, Amazon.com Inc.’s Jeff Bezos, and OpenAI Chief Executive Officer Sam Altman were among the media titans who attended the Sun Valley 2023 event, the annual gathering of media moguls organized in the beautiful mountains of Idaho.
The event is known for fostering mergers through friendly handshakes, and this year’s major potential deal involves the esteemed luxury tycoon Francois-Henri Pinault. He is currently engaged in advanced discussions to acquire a majority stake in Creative Artists Agency, which could potentially add another international trophy asset to his remarkable portfolio.
The Pinault family is the biggest shareholder in Kering SA, the owner of brands such as Gucci and Bottega Veneta. They also control other prestigious assets such as auction house Christie’s and vineyards like Chateau Latour in Bordeaux.
Los Angeles-based Creative Artists Agency, CAA, founded by Michael Ovitz, Ron Meyer, and several partners in 1975, has long been one of the premier power brokers in Hollywood. It offers talent management services and packaged content for Hollywood studios. Like its rivals WME and United Talent Agency, the firm is backed with funds managed by a private equity firm. In 2010, TPG acquired a 35% stake in CAA. Headquartered in Fort Worth, Texas, in 2014, the asset manager boosted its ownership share to 53% to take control of the business at a $1.1 billion valuation.
The potential sale of CAA is happening during a critical time for show business. With the ongoing actor’s and writer’s strikes and the industry adapting to streaming trends, it’s quite a challenging period.
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2nd edition of the Audio-Visual Producers Summit
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Francois-Henri Pinault started discussions to buy talent management company CCA.
Walt Disney Co.’s Bob Iger, Amazon.com Inc.’s Jeff Bezos, and OpenAI Chief Executive Officer Sam Altman were among the media titans who attended the Sun Valley 2023 event, the annual gathering of media moguls organized in the beautiful mountains of Idaho.
The event is known for fostering mergers through friendly handshakes, and this year’s major potential deal involves the esteemed luxury tycoon Francois-Henri Pinault. He is currently engaged in advanced discussions to acquire a majority stake in Creative Artists Agency, which could potentially add another international trophy asset to his remarkable portfolio.
The Pinault family is the biggest shareholder in Kering SA, the owner of brands such as Gucci and Bottega Veneta. They also control other prestigious assets such as auction house Christie’s and vineyards like Chateau Latour in Bordeaux.
Los Angeles-based Creative Artists Agency, CAA, founded by Michael Ovitz, Ron Meyer, and several partners in 1975, has long been one of the premier power brokers in Hollywood. It offers talent management services and packaged content for Hollywood studios. Like its rivals WME and United Talent Agency, the firm is backed with funds managed by a private equity firm. In 2010, TPG acquired a 35% stake in CAA. Headquartered in Fort Worth, Texas, in 2014, the asset manager boosted its ownership share to 53% to take control of the business at a $1.1 billion valuation.
The potential sale of CAA is happening during a critical time for show business. With the ongoing actor’s and writer’s strikes and the industry adapting to streaming trends, it’s quite a challenging period.
Share:
2nd edition of the Audio-Visual Producers SummitComic-Con: A Sense Of Uncertainty Strikes San Diego
