Kevin Winter/Getty Images for Coachella) – Beyonce at Coachella 2018
Only one of many superstars represented by CAA
Liberty Media, which holds stakes in SiriusXM and Live Nation, is in talks to invest in Creative Artists Agency, the Financial Times reports.
The size of the stake Liberty Media is after wasn’t disclosed, however, the media giant’s history suggest that it’ll go after a significant minority or majority stake.
At press time, Liberty Media owned a 34 percent stake in Live Nation, and a 71 percent stake in Sirius XM, among several other investments. It fully owns worldwide motorsports business Formula One.
It isn’t hard to see how adding the business of talent representation to this portfolio would be a natural fit.
Private equity firm TPG currently holds a 60 percent stake in CAA, but wasn’t involved in the discussions with Liberty Media, the report continues. A TPG spokesman told the paper that TPG “received regular approaches about its investments but that it was not in ‘active discussions’ regarding the CAA stake.”
Both CAA and Liberty Media declined to comment.
CAA represents countless of the world’s biggest acts, not just in music, but most entertainment genres and sports as well. It also represents the artist that broke an all-time touring record for most tickets sold and the highest gross in one year: Ed Sheeran, who sold 4,860,482 tickets in 2018, grossing $432,398,856.
Sheeran’s Divide tour resumes in 2019, and with 45 headlining stadium dates already booked he may be the first touring artist to overtake U2 and claim the title of highest-grossing tour of all time, when measured beyond one year only.