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US: Paradigm CEO says there is no deal with UTA

 |  June 10, 2019

Paradigm CEO Sam Gores told employees of the agency on Sunday, June 9, that he has shut down acquisition talks with UTA. Gores said in his note that UTA offered to buy the music and literary divisions of Paradigm, but he opted not to sell, and with it a client roster that includes author Stephen King, and musical acts such as Coldplay, Imagine Dragons, Halsey, and Shawn Mendes.

“There are reasons why a combination like this would have made sense for both agencies,” Gores wrote. “But in the end, what is more compelling for us is how unique the culture at Paradigm is and how powerful our independent path can be.”

Rumors have been swirling around Hollywood in recent weeks that a merger between the two agencies was in the works. The acquisition talks unfolded at a tumultuous time for the agency business. Endeavor, which owns WME, one of the Big Four agencies along with CAA, UTA, and ICM Partners, has filed to go public, a move that could inject capital into its operations and leave its rivals punching up.

Full Content: Variety

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