CAA may form alliance with private equity firms
Agency wants to beef up sports businessCAA has been in talks with private equity firms about a potential alliance or joint venture to beef up its sports business, the New York Times' DealBook blog reported Friday.
Several of the firms have expressed interest in buying a minority stake in CAA as part of any deal, it cited a source as saying.
"Any such investment would help move Creative Artists further into the world of producing entertainment and sports," the DealBook report said.
IMG, owned by private equity financier Theodore Forstmann, is seen as a model for a potential deal.
CAA has held discussions with the likes of Kohlberg Kravis Roberts and TPG, according to the report.