In an email to employees Thursday night, Paradigm Talent Agency chairman Sam Gores flatly denied a Los Angeles Times report that the company might be purchased by Creative Artists Agency.
According to the L.A. Times, CAA has been conducting “exploratory discussions” to purchase Paradigm, talks that began after Paradigm rebuffed a buyout attempt in 2019 by UTA.
Representatives for Paradigm and CAA declined to comment, but in the email, confirmed as authentic by individuals with knowledge of the situation, Gores said the company isn’t for sale. “As I have said before, we like the independent and successful path we’re on,” Gores said in part. “Our focus continues to be growing Paradigm and providing the best possible opportunities for our colleagues, our artists and the art that they create.”
In its three decades of operation, Paradigm has kept close to its successful music business, building deep roots with music talent while expanding into movies and television. As the founder and CEO, Gores controls the company entirely and has indicated no desire to relinquish control a profitable operation he built from scratch.
Read Gores’ full letter below:
Dear Colleagues:
I want to address a recent press report suggesting the potential sale of Paradigm. Let me state emphatically – we are not for sale, nor are we selling the agency.
As many of you are aware, the influx of private equity into talent agencies and the WGA stand-off, among other factors, are pushing agencies to pursue strong, diversified companies such as Paradigm.
As I have said before, we like the independent and successful path we’re on. Our focus continues to be growing Paradigm and providing the best possible opportunities for our colleagues, our artists and the art that they create.
Let’s ignore the chatter and idle speculation and stay focused on the important work at hand. I look forward to seeing you at Town Hall on Monday.
Sam
The Hollywood Reporter first published the email.