Paradigm Denies CAA Sale Talks In Letter To Staff
Paradigm head Sam Gores has denied an LA Times report that the agency is in talks to be acquired by CAA.
Last year, Paradigm held talks with UTA about an acquisition, but ultimately decided to stay independent.
Speculation that Paradigm might be for sale resurfaced after it recently laid off 30 staffers, including several agents in its respected music division. The agency also shuttered its unscripted tv division.
In a Thursday internal letter to Paradigm staff, Gore flatly denied any talks with CAA.
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 stand-off, 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
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