Post by jo on Jul 11, 2016 8:35:08 GMT -5
variety.com/2016/biz/news/ufc-wme-img-acquire-4-billion-deal-1201811704/
Will Patrick Whitesell, Hugh's longtime agent and close friend, still be able to handle creative options for Hugh?
WME/IMG is taking another big swing at transforming and diversifying its far-flung business operations with the $4 billion acquisition of mixed martial arts organization Ultimate Fighting Championship...
“We’ve been fortunate over the years to represent UFC and a number of its remarkable athletes,” said WME/IMG co-CEOs Ariel Emanuel and Patrick Whitesell...
Bringing UFC into the fold is consistent with the effort under co-CEOs Emanuel and Whitesell to reinvent the company by putting it squarely in the content production and distribution business...
In a media landscape that is increasingly global and increasingly digital, UFC was a natural fit for a company that aims to be a heavyweight player in TV content distribution, advertising and sponsorship sales. WME/IMG’s quick expansion has separated it from the pack of its Hollywood talent agency competitors. Even CAA, with its investment in sports and sports rights deals, marketing and event-related services, has not ventured as aggressively into creating content that it controls outright.
The UFC deal will add further fuel to the speculation that WME/IMG is preparing an IPO in the near future, in part to help its primary private equity investor, Silver Lake, realize a return on the investments it has backed for the agency since they first teamed in 2012. The steady revenue and cash flow stream provided by UFC could go a long way toward smoothing out the inevitable ups and downs of the core talent agency business...
“We’ve been fortunate over the years to represent UFC and a number of its remarkable athletes,” said WME/IMG co-CEOs Ariel Emanuel and Patrick Whitesell...
Bringing UFC into the fold is consistent with the effort under co-CEOs Emanuel and Whitesell to reinvent the company by putting it squarely in the content production and distribution business...
In a media landscape that is increasingly global and increasingly digital, UFC was a natural fit for a company that aims to be a heavyweight player in TV content distribution, advertising and sponsorship sales. WME/IMG’s quick expansion has separated it from the pack of its Hollywood talent agency competitors. Even CAA, with its investment in sports and sports rights deals, marketing and event-related services, has not ventured as aggressively into creating content that it controls outright.
The UFC deal will add further fuel to the speculation that WME/IMG is preparing an IPO in the near future, in part to help its primary private equity investor, Silver Lake, realize a return on the investments it has backed for the agency since they first teamed in 2012. The steady revenue and cash flow stream provided by UFC could go a long way toward smoothing out the inevitable ups and downs of the core talent agency business...
Will Patrick Whitesell, Hugh's longtime agent and close friend, still be able to handle creative options for Hugh?