Breaking: Casey Wasserman Selling Wasserman Media Group Including Music Agency

Casey Wasserman this evening (Feb. 13) announced in a memo to staff that he is selling Wasserman Media Group, the company he founded in 2002, which includes Wasserman Music. The news follows the DOJ’s release of the Epstein files on Jan. 30, which brought to light Wasserman’s relationship with Ghislaine Maxwell, Jeffrey Epstein’s now-jailed associate—which resulted in many of the agency’s artists and agents expressing outrage and a desire to leave the agency.

“Our clients expect – and deserve – world-class representation. And that’s exactly what they get because of all of you,” Wasserman wrote to his staff. “At this moment, I believe that I have become a distraction to those efforts. That is why I have begun the process of selling the company, an effort that is already underway. During this time, Mike Watts will assume day-to-day control of the business while I devote my full attention to delivering Los Angeles an Olympic Games in 2028 that is worthy of this outstanding city” (full memo below).

What’s Next For Wasserman Music? Pressure Mounts For Leadership Change Following Ties To Epstein

While this is the first major step of a much larger process, there is still a lot to be settled. Providence Equity Partners, Wasserman’s strategic investor since 2022, will have a large say in how the company continues. Wasserman, according to his memo, has 4,000 employees and its holdings, in addition to music, include Wasserman Sports, the Montag Group, Brillstein Entertainment Partners, the Brands & Properties division. It’s not clear if the company will be sold as a whole or piecemeal. Potential buyers would obviously include the other major talent agencies, including CAA, WME, UTA and IAG financially backed by Ron Burkle’s Yucaipa. Likely, these agencies and others would be interested in purchasing Wasserman Music itself.

There is also the potential for agents to leave Wasserman in the interim and internal leadership changes, with a senior agency team that includes Marty Diamond, Kevin Shivers, Brent Smith, Jackie Nalpant, Lee Anderson and Tom Windish. It’s been postulated that the leadership team itself could be part of a new ownership group for the music agency. (Corrie Martin, EVP and Managing Executive, announced her retirement from Wasserman Music on Jan. 21).

Wasserman Music was born of its acquisition of Paradigm’s music holdings in 2021. The latter built its music holdings with acquisitions that included Monterrey Peninsula Artists in 2004, Little Big Man in 2006, AM Only in 2012, a 50% stake in CODA Agency in January 2014 and The Windish Agency in 2017.

The growing outcry from artists who expressed a desire to leave the agency over the last week included most prominently pop superstar Chappell Roan as well as John Summit, Orville Peck, Best Coast, Chelsea Cutler, Weyes Blood, Wednesday, Sylvan Esso, Beach Bunny, Water From Your Eyes, Sleigh Bells and Dropkick Murphys.

In light of this news, it is unclear if artists who publicly announced they were parting ways with Wasserman Music will be assuaged by today’s announcement and remain with the new entity and their agents or move to other agencies.

Wasserman Music’s other A-list clients include Ed Sheeran, Coldplay, Imagine Dragons, Kacey Musgraves, Lorde, Pharrell, SZA, Tyler, the Creator, Kendrick Lamar, Skrillex, Fred again.., ODESZA, Phish, Calvin Harris, Travis Scott, Future, Sia and others. The agency has dominated festival lineups in recent years, in terms of the number of artists performing at major music festivals, including 38% of the Governors Ball agency share, 35% of Electric Forest’s lineup, 34% of Bonnaroo’s lineup, and 33% of Coachella’s lineup (with the big three: WME, UTA and CAA, all holding 12% each), according to Booking Agency Info.

Chappell Roan Leaves Wasserman Music Amid Casey Wasserman Epstein Ties

It is also not yet clear how the European portion of the music agency will be handled, as Wasserman Music’s international holding was acquired from Paradigm separately and faces different laws.

Throughout this week, many artists said their first allegiance is to their agent and not to their parent company. Best Coast’s Bethany Cosentino, who expressed her dismay with the Wasserman-Epstein connection, explicitly said her loyalties lie with her agent. “I am in the Sam Hunt business,” acknowledging her long-time agent who she’s worked with since before Paradigm was acquired by Wasserman.

Watts, who was named interim CEO, first joined the Wasserman company in 2002 and was formerly Wasserman Media Group’s Chief Operating Officer. In 2014, he was named President of the Sports and Entertainment marketing agency. Sources say he was already running day-to-day at the agency. Watts was the fourth employee hired by Wasserman when the agency began, according to the Sports Business Journal.

On Wednesday, Feb. 11, the 2028 Los Angeles Olympics determined Casey Wasserman would remain Chair of LA28, with the Executive Committee of the Board saying in a statement, “We found Mr. Wasserman’s relationship with Epstein and Maxwell did not go beyond what has been publicly documented. Twenty-three years ago, before Mr. Wasserman or the public knew of Epstein and Maxwell’s deplorable crimes, Mr. Wasserman and his then-wife flew on a humanitarian mission to Africa on Epstein’s plane at the invitation of the Clinton Foundation. This was his single interaction with Epstein. Shortly after, he traded the publicly-known emails with Maxwell. The Executive Committee of the Board has determined that based on these facts, as well as the strong leadership he has exhibited over the past ten years, Mr. Wasserman should continue to lead LA28 and deliver a safe and successful games.”

Casey Wasserman’s full memo to staff:

I wanted to write to you all directly to share a few important updates. Over the past couple of weeks, I have spoken to many of you directly – and I wish I could have spoken with every one of you because you all have put your hearts and souls into this incredible organization.

First and foremost, I want to apologize to you. I’m deeply sorry that my past personal mistakes have caused you so much discomfort. It’s not fair to you, and it’s not fair to the clients and partners we represent so vigorously and care so deeply about.

The pain experienced by the victims of Jeffrey Epstein and Ghislaine Maxwell is unimaginable – and I’m glad, as I’m sure you all are, that those who helped them commit their crimes are rightly being held accountable. 

Hopefully by now you know the facts about my limited interactions with those two individuals. It was years before their criminal conduct came to light, and, in its entirety, consisted of one humanitarian trip to Africa and a handful of emails that I deeply regret sending. And I’m heartbroken that my brief contact with them 23 years ago has caused you, this company, and its clients so much hardship over the past days and weeks.

Other than my children and my fiancée, there are two things that matter most to me in this world: this company that I founded 24 years ago, and the dream I’ve pursued for more than a decade of bringing the Olympic Games back to the city I love.

This organization, its leadership and the entire team mean the world to me. Our 4,000 employees are the absolute best in the business. I see you put it all on the line for your clients every day. Our clients expect – and deserve – world-class representation. And that’s exactly what they get because of all of you.

At this moment, I believe that I have become a distraction to those efforts. That is why I have begun the process of selling the company, an effort that is already underway. During this time, Mike Watts will assume day-to-day control of the business while I devote my full attention to delivering Los Angeles an Olympic Games in 2028 that is worthy of this outstanding city.

I so appreciate the passion and fight you bring to your jobs. It’s why you succeed.

I am beyond proud of what this company has accomplished to date and excited to watch its next chapter.

All my best,

Casey

Sarah Pittman and Andy Gensler contributed to this story.