The consolidation trend in Hollywood continues with the closing of another big merger. The long-gestating acquisition of talent agency ICM Partners by its rival CAA closed today. The deal was first announced almost a year ago but was delayed by Department of Justice and Federal Trade Commission scrutiny. The deal leaves three major agencies dominating the field—CAA, WME and UTA.
Nerves have been raw at ICM due to the long delay, as employees wondered whether they would be victims of anticipated layoffs. Several agents and clients have jumped ship in the interim. It’s expected that 105 ICM employees will not be making the transition to CAA.
ICM brings some key showrunner clients to the deal. The agency also has a thriving book publishing department and a strong sports business built around the powerful soccer agency Stellar Group, which it acquired last October. The combined agencies will have more than 3,200 employees operating in 25 countries.