Almost nine months to the day after the surprise Deadline scoop that CAA would acquire ICM Partners, the deal finally got government approval and closed. This creates a mega agency in the biggest linkup in the space since the Wma-Endeavor merger. Sources close to the situation said the Department of Justice finally approved the deal late last night or this morning, and it closed. It is valued around 750 million, and a combined enterprise value around 5 billion. The merged company’s leadership is expected to address staff at a town hall Thursday, with the newly combined departments set to begin their integration process with get-togethers on July 11, we hear.
First, though, comes the pain.
Around 105 positions will be eliminated, all from ICM, and coming from all areas. There will be 425 ICM agents and staffers from the agency joining CAA, meaning around 80 will be retained by CAA. These conversations will happen quickly.
First, though, comes the pain.
Around 105 positions will be eliminated, all from ICM, and coming from all areas. There will be 425 ICM agents and staffers from the agency joining CAA, meaning around 80 will be retained by CAA. These conversations will happen quickly.
- 6/28/2022
- by Nellie Andreeva and Mike Fleming Jr
- Deadline Film + TV
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