Luxury and fashion mogul Francois-Henri Pinault has entered advanced talks to acquire a majority stake in Creative Artists Agency, according to Bloomberg.
A potential deal for the Hollywood talent agency, which represents high-profile clients including Tom Hanks, Zendaya, Steven Spielberg, Ariana Grande, Beyonce, and Pinault’s wife Salma Hayek, could reportedly fetch a valuation of at least $7 billion. The outlet noted that talks with the Kering CEO and Groupe Artémis president could still end without a deal and that a final decision has not been made.
CAA, which was founded in 1975, is backed by private equity group TPG Capital, which acquired a 35% stake in the talent agency in 2010.