Stagwell Media Acquires Stake In CAA Marketing

Stagwell Media has acquired a majority stake in Creative Artists Agency’s marketing division.

StagwellGroup.com – Mark Penn
co-head and COO of The Stagwell Group

The move creates a new company, to be named shortly, which will provide clients with the experience and leadership to leverage popular culture and entertainment, the company announced Sept. 27.

Terms of transaction were not disclosed.

CAA Marketing’s Jae Goodman, co-head and CCO, has been named CEO of the new company.

“Stagwell is pleased to welcome a new, world-class, creative group that has worked at the highest level to the Stagwell team and I look forward to partnering with CAA on its continued success,” said Stagwell Group President and Managing Partner Mark Penn. “I’ve known Jae Goodman for over two decades and we share the belief that outstanding creativity is key to driving measurable business results.”