In a deal that will see two of Hollywood's most powerful talent agencies come together, Creative Artists Agency (CAA) has reached an agreement to purchase ICM Partners. Both companies have significant outposts in New York book publishing, with CAA having 11 literary agents on staff and ICM having 18.
In a release about the acquisition, CAA executives Bryan Lourd, Kevin Huvane, and Richard Lovett said: "The strategic combination of CAA and ICM bolsters our collective resources, expertise, and relationships to deliver even more opportunities for our world-class clients to build their careers and their brands across multiple disciplines and platforms in an evolving marketplace." Speaking specifically to ICM's books department, CAA said the group "superbly complements CAA’s content-driven motion pictures, television, and podcasting businesses, in addition to its speakers arm, and other divisions."
In 2018, ICM added to its literary roster with the acquisition of the Washington, D.C.-based Sagalyn Partners. ICM's roster of noted literary agents includes Esther Newberg, Amanda Urban, Rafe Sagalyn (who had been the principal at Sagalyn Partners), Jennifer Joel, and Alexandra Machinist. Once the deal is completed the new CAA's literary division would dwarf that of William Morris Endeavor, the other major give Hollywood-based talent firm that has a meaningful literary presence with with about 16 literary agents on staff. Jennifer Joel told PW ICM's strength in the book world "is a perfect complement to CAA’s strengths in filmed entertainment, and that the combination will provide all of our clients with a greater number and quality of opportunities."
CAA was founded in 1975 and its main office is in Los Angeles; it has outposts now in New York, Nashville, London, Beijing, and Shanghai (with a number of smaller satellite offices in various other cities, including Atlanta, Chicago, Munich, Stockholm, and Toronto). ICM was also founded in 1975, and rebranded as ICM Partners in 2012; it has offices in Los Angeles, New York, Washington, D.C., and London.
The purchase, CAA said, is set to close later this year; financial terms of the deal weren't disclosed.