In the capital-raising arms race among the big Hollywood talent agencies — which have grown into entertainment conglomerates themselves — United Talent Agency sold a minority stake to Investcorp and PSP Investments. Deadline and Variety say they sold approximately 40 percent of the agency, for an estimated $200 million. (When the search for investors was initiated earlier this year, Deadline said UTA has revenues of over $325 million a year, with profit of $50 million.) Some proceeds will be spread among employees throughout the agency, while a portion will go to “accelerate” their growth and “enhance UTA’s services.” The agency has more than […]
