Swedish-based private equity firm EQT has become a large “strategic investor” in UTA, as the largest outside shareholder in the firm. They are buying out investment firm Investcorp’s full minority stake, and are also acquiring a “portion of existing stakes” from others shareholders including PSP Investments. In 2018, Investcorp and PSP Investments bought approximately 40 percent of the agency, for an estimated $200 million. Investcorp executive Dave Tayeh proclaims, “Our investment in UTA was highly successful.” The deal is expected to close later this month, and is one of the first transactions for EQT’s newest fund, which will range from […]
Agency News
CAA Closes Acquisition of ICM
Following an extended delay awaiting government review, CAA has completed their acquisition of ICM, first announced in September 2021. The deal is reported as valuing ICM at $750 million. (When ICM sold a minority one-third share in the agency to Crestview Partners in 2019, the price was reportedly approximately $150 million.) In the original announcement, CAA had emphasized the strength of ICM’s books department: “ICM’s industry-leading books division superbly complements CAA’s content-driven motion pictures, television, and podcasting businesses, in addition to its speakers arm, and other divisions.” Today’s announcement adds, “ICM brings to CAA a leading literary agency in the […]
UTA to Acquire Curtis Brown UK
United Talent Agency (UTA) announced Monday that it has signed a definitive agreement to acquire Curtis Brown UK, which will continue to operate under its current name, still run by ceo Jonny Geller. The announcement proclaims, “This structure will allow both Curtis Brown Group and UTA to continue their fruitful and longstanding relationships with other agency partners in the UK and US,” though that is ultimately up to those other agencies who use UTA and Curtis Brown as a sub-agent. Curtis Brown UK has over 240 employees across all divisions, including its production arms, and “is expected to continue to […]
Agents Association Revises Canon of Ethics, Expands Membership Criteria
The Association of American Literary Agents (FKA the Association of Authors’ Representatives) announced a significant revision of their Canon of Ethics, which is the industry’s primary set of guidelines for ethical and appropriate practices in representation. It includes a variety of “clarifications and updates focused on modernizing” the rules, with the organization calling out new “parameters…to allow AALA members to take on paid editorial work for non-client authors while maintaining the organization’s rigorous commitment to the highest standards of ethical representation.” That new standard indicates that “members may provide editorial services in exchange for a fee to authors who are […]
McGuigan Sues Former Foundry Bookkeeper for Fraud
The recent non-binding mediation between former Foundry Media partners Yfat Reiss Gendell and Peter McGuigan failed to result in any resolution to their legal dispute, so their claims and counterclaims return to the court for litigation. (McGuigan originally sued Gendell, alleging criminal embezzlement from Foundry, and Gendell countersued, alleging defamation and unprofessional and abusive behavior.) The most recently revised schedule called for discovery to end June 13, with motions for summary judgment due by July 26. Separately, on Tuesday McGuigan filed a new civil suit on behalf of both himself and Foundry Literary + Media, expanding his original allegations to […]
Andrew Nurnberg Associates Adds New Managing Directors
Andrew Nurnberg Associates announced a number of moves: Jenny Savill will become managing director of ANA and Doug Wallace will become managing director of Andrew Nurnberg Associates International. Founder Andrew Nurnberg has stepped down as managing director, and will continue to represent his own clients and serve as chair of the board. Sarah Nundy will step back as deputy managing director but remains executive director, overseeing the transition. In the London office, Savill will lead a new management committee, comprising Wallace, senior agents Sabine Pfannenstiel, Barbara Barbieri, Marei Pittner, and Michael Dean, and head of finance Siobhan Kelly.