Paradigm CEO Sam Gores vehemently denies that his company is for sale.
Following a recent report by the Los Angeles Times, which said that the talent agency was on the market and engaged in preliminary talks with the Creative Artists Agency (CAA), Gores sent a companywide email disputing the claim.
In the email, Gores wrote: “Let me state emphatically– we are not for sale, nor are we selling the agency.”
In the same message, Gores acknowledged that “the influx of private equity into talent agencies and the WGA standoff” make Paradigm an ideal acquisition target for other agencies, which would gain a diverse stable of clients and additional bargaining power. This statement seems to indicate that while some talent offices are interested in Paradigm, the interest isn’t mutual.
Rumors of Paradigm’s sale aren’t new. The company, which was founded in 1992, has reportedly been open to purchase propositions for several years. Last June, Gores revealed that he had been fielding offers from the United Talent Company (UTC), but pressure from his employees prompted him to reconsider.
Paradigm possesses one of the most comprehensive rosters of any contemporary talent agency.
Artists Ed Sheeran and Coldplay, author Stephen King, actor Laurence Fishburne, and many other prominent professionals are signed with Paradigm, which has over 200 agents in its ranks.
Paradigm’s foray into music representation arrived in 2005, with the purchase of Monterey Peninsula Artists. And in 2006, Paradigm acquired Little Big Man, a New York-based talent agency that, although small, had agreements with Coldplay and The Fray (both of whom stayed on with Paradigm and are still clients).
Subsequently, Ellis Industries, Third Coast Artists Agency, AM Only, and Coda Music Agency aligned with Paradigm, forming an impressive collection of musical talent.
At the time of writing, Sam Gores hadn’t publicly commented on the report.