For the second time in seven months, Paradigm CEO Sam Gores has declared that he is not selling his agency.
Following a Los Angeles Times report Thursday afternoon that Paradigm had held “exploratory discussions” with CAA, Gores sent a companywide email a few hours later to set the record straight: “Let me state emphatically — we are not for sale, nor are we selling the agency.”
Rumors that Paradigm is on the market have been flying around the agency world for years, intensifying amid the climate of private equity growth and instability from the ongoing WGA conflict. (Paradigm joins CAA, WME, UTA and ICM Partners as the remaining major holdouts to signing an agreement with the writers guild.)
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Last June, Gores admitted that he had been in talks to sell his agency to UTA, but changed his mind after resistance from his staff. “There are reasons why a combination like this would have made sense for both agencies,” he wrote in an email to his company back then, “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.”
The Hollywood Reporter has obtained the new email that Gores sent in the wake of the report about CAA, below.
Dear Colleagues:
I want to address a recent press report suggesting the potential sale of Paradigm. Let me state emphatically — we are not for sale, nor are we selling the agency.
As many of you are aware, the influx of private equity into talent agencies and the WGA standoff, among other factors, are pushing agencies to pursue strong, diversified companies such as Paradigm.
As I have said before, we like the independent and successful path we’re on. Our focus continues to be growing Paradigm and providing the best possible opportunities for our colleagues, our artists and the art that they create.
Let’s ignore the chatter and idle speculation and stay focused on the important work at hand. I look forward to seeing you at Town Hall on Monday.
Sam
