Light on talent

30 September 2004 By Rob Cox Follow @rob1cox

That s the impression created by some recent deals including two buyouts this week of talent agencies and the bidding for Grey Global. Though these businesses may not be as light as they appear, they come with substantial risks.

This content is for Subscribers only

Context News

Forstmann Little & Co. agreed to buy IMG, the sports and talent management firm, for about $750m from the trusts of the firm's deceased founder Mark McCormack.

The deal is the first in three years for the buyout group led by Theodore Forstmann following losses in telecoms investments and a courtroom showdown with the state of Connecticut, which unsuccessfully sued the firm for breach of contract related to the losses. Rothschild conducted the sale for IMG and Eric Gleacher represented Forstmann Little.

Separately, two private equity firms, Thomas H. Lee Partners and Bain Capital, agreed to acquire an undisclosed minority stake in The Firm, a Hollywood talent agency.

Email a friend

Please complete the form below.

Required fields *