Top Hollywood agency CAA in talks to sell itself to French billionaire Francois-Henri Pinault

LOS ANGELES – Creative Artists Agency (CAA), one of Hollywood’s biggest talent agencies, is in advanced talks to sell a majority stake to French billionaire Francois-Henri Pinault and could fetch a valuation of more than US$7 billion (S$9.2 billion), Bloomberg News reported on Thursday.

Founded in 1975, CAA was at the forefront of packaging Hollywood actors, directors, writers and others for films and television shows during the 1990s, allowing it to sew up talent and boost revenues. During that period, CAA became the most powerful talent agency in entertainment.

The Los Angeles-based agency represents thousands of actors, directors and music artistes, and its client roster includes celebrities such as Tom Hanks, Zendaya, Steven Spielberg, Ariana Grande and Beyonce. Mexican-American actress Salma Hayek, who is married to Pinault, also comes under the agency’s umbrella.

The agency branched into the representation of athletes in 2006.

The sale talk report comes at a time when Hollywood actors have decided to go on strike after talks with studios broke down, joining film and television writers who have been on picket lines since May and deepening the disruption of scores of shows and movies.

CAA’s talks with billionaire Pinault, who is also the chief executive of Gucci-owner Kering, could still end without an agreement, the Bloomberg report said, adding that a final decision has not been made.

Its press office could not be immediately reached outside business hours, while Kering did not respond to e-mail for comment.

CAA is backed by private equity group TPG Capital, which acquired a 35 per cent stake in the talent agency in 2010. In 2021, CAA announced a deal to buy rival ICM Partners in a deal that merged two major Hollywood talent agencies.

TPG declined to comment. REUTERS