One Third Of William Morris Endeavor Sold

Technology investment company Silver Lake Partners has purchased a stake in William Morris Endeavor, and it’s a whopper – reportedly about one-third of the agency.

Ari Emanuel and Patrick Whitesell announced the sale at a town-hall meeting today, May 2, forgoing its normal company-wide meeting, according to Deadline Hollywood. Although the official announcement does not mention a monetary figure, most reports say a third of the company, with Deadline Hollywood claiming a 31 percent, non-controlling stake.

Silver Lake Partners has significant investments in several technological megaliths like Skype and Seagate. The purchase, which was announced on the third-year anniversary of the merger between William Morris and Endeavor, is expected to benefit clients with more digital presence. WME has been financing its digital presence in house, and the discussions have been going on for two years. It is said to benefit all departments; as for Personal Appearances, the strategic partnership will help clients adjust to the rise of digital music.

The William Morris Endeavor Board released the following statement:

Our partnership with Silver Lake will accelerate WME’s transformation into a technologically innovative entertainment and media company and ensure we can best support our clients across all digital media channels. This investment will give WME access to Silver Lake’s expertise, resources and relationships across the global technology industry, ensuring our clients and the content they create are strategically positioned for the future as the convergence of technology, entertainment and media accelerates.

“Partnering with Silver Lake aligns WME with the global leader in technology investing, and ensures that all of our clients across film, TV, music, literature and other genres can capitalize on the dramatic new opportunities emerging from the digital media revolution,” Whitesell and Emanuel said. “While we have already taken significant strategic steps to transition our business to the new digital media landscape, we are excited about the financial strength and technology expertise Silver Lake brings, which will enable us to expand WME’s growth strategy into digital media and create compelling new opportunities for our clients.”

A source told Deadline Hollywood Silver Lake Partners “are not Hollywood guys who make Hollywood investments,” and, instead, “they are going down a path offering a lot more opportunity than just on a balance sheet.”