United Talent Agency on Tuesday said that Investcorp and the Public Sector Pension Investment Board (PSP Investments) are now strategic minority investors in the company.
UTA said the new influx of capital from Investcorp and PSP Investments will be used to accelerate its growth, enhance UTA’s existing services, and continue to invest in resources to support its clients and colleagues in a time of change and innovation in content creation and distribution.
Industry insiders suggest that the investment was upwards of $200 million and gives Investcorp and PSP Investments a high 30% stake in UTA.
Over the last five years, UTA has more than doubled in size and in the past year, the company has made acquisitions in live speaking, electronic music, and e-sports and gaming businesses, and has taken an equity stake in Core, recently renamed Industrial Media, which last year relaunched “American Idol.”
Also Read: UTA Launches Esports Division With Acquisition of Press X,...
UTA said the new influx of capital from Investcorp and PSP Investments will be used to accelerate its growth, enhance UTA’s existing services, and continue to invest in resources to support its clients and colleagues in a time of change and innovation in content creation and distribution.
Industry insiders suggest that the investment was upwards of $200 million and gives Investcorp and PSP Investments a high 30% stake in UTA.
Over the last five years, UTA has more than doubled in size and in the past year, the company has made acquisitions in live speaking, electronic music, and e-sports and gaming businesses, and has taken an equity stake in Core, recently renamed Industrial Media, which last year relaunched “American Idol.”
Also Read: UTA Launches Esports Division With Acquisition of Press X,...
- 8/7/2018
- by Trey Williams
- The Wrap
UTA has sold minority stakes in the agency to private equity outfits PSP Investments and Investcorp.
The goal is to provide a capital infusion to allow for expansion “in a time of change and innovation in content creation and distribution,” the agency said.
UTA’s sale follows the entry of private equity giants Tpg and Silver Lake as majority owners of CAA and Endeavor, respectively, during the past decade. The latest round of investment in UTA values the company at around $700 million-$800 million, according to industry sources.
“This is a transformative event for UTA,” UTA CEO Jeremy Zimmer said. “There has never been a greater moment of change and opportunity in our industry for artists, creators and companies like ours. We were deliberate about finding the right investment partners who recognize UTA as a business that puts clients first, exemplifies a collaborative and diverse culture, and is focused long term...
The goal is to provide a capital infusion to allow for expansion “in a time of change and innovation in content creation and distribution,” the agency said.
UTA’s sale follows the entry of private equity giants Tpg and Silver Lake as majority owners of CAA and Endeavor, respectively, during the past decade. The latest round of investment in UTA values the company at around $700 million-$800 million, according to industry sources.
“This is a transformative event for UTA,” UTA CEO Jeremy Zimmer said. “There has never been a greater moment of change and opportunity in our industry for artists, creators and companies like ours. We were deliberate about finding the right investment partners who recognize UTA as a business that puts clients first, exemplifies a collaborative and diverse culture, and is focused long term...
- 8/7/2018
- by Cynthia Littleton
- Variety Film + TV
Update: Sources tell Deadline that UTA sold an equity stake in the 40% range, with the cash infusion in the vicinity of $200 million. Some of the majority of that money will be used to further diversify the agency, and that some of the money will be spread around to the dealmakers who’ve put the agency in this position. Everyone who works for the agency, down to assistants and kitchen staff, will be cashing a check of some kind in the near future, sources said.
Breaking, 11:33 Am Pst: In a major move that gives United Talent Agency a chance to further diversify its businesses, the agency has completed a minority equity sale stake to Investcorp and the Public Sector Pension Investment Board (PSP Investments). Deadline revealed in June that UTA had Moelis & Company exploring a 40% Equity Sale designed to raise revenue primarily to continue to aggressively broaden its businesses, something...
Breaking, 11:33 Am Pst: In a major move that gives United Talent Agency a chance to further diversify its businesses, the agency has completed a minority equity sale stake to Investcorp and the Public Sector Pension Investment Board (PSP Investments). Deadline revealed in June that UTA had Moelis & Company exploring a 40% Equity Sale designed to raise revenue primarily to continue to aggressively broaden its businesses, something...
- 8/7/2018
- by Mike Fleming Jr
- Deadline Film + TV
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