Business

Kering CEO François-Henri Pinault In Talks For Multibillion-Dollar CAA Purchase

By Donovan | July 26, 2023 0 Comments

IT IS BEING REPORTED THAT THE FRENCH BILLIONAIRE IS IN “ADVANCED TALKS” FOR A DEAL THAT WOULD VALUE THE POWERHOUSE HOLLYWOOD AGENCY AT OVER $7 BILLION.

HOLLYWOOD, CALIFORNIA — French businessman and Salma Hayek‘s husband François-Henri Pinault is in “advanced talks” for a multibillion-dollar deal to purchase a majority stake in Creative Artists Agency, according to an article posted on Fox Business.

The 61-year-old has been the chairman and CEO of Kering since 2005, and president of Groupe Artémis since 2003. Under his leadership, the retail conglomerate PPR was transformed into the luxury fashion group Kering.

The potential deal would value the top Hollywood talent agency at over $7 billion, though a source told Bloomberg that no final decision had been made yet.

CAA was founded in 1975, and is among Hollywood‘s three leading talent agencies along with William Morris Endeavor (WME) and United Talent Agency (UTA). CAA represents thousands of clients including actors, directors, screenwriters, recording artists, authors, and athletes. Hayek is a CAA client.

The private equity group TPG Capital is the current majority stakeholder in CAA after purchasing 35% of the company in 2010. Last year, CAA acquired rival mega agency ICM Partners in a $750 million deal.

Hayek married Pinault in 2009 and the couple share daughter Valentina, 15. The family moved from France to London in 2014, and they maintain a collection of residences around the world including Los Angeles, Paris and the French countryside.

Pinault‘s potential purchase of CAA comes at a tumultuous time in Hollywood. The Screen Actors Guild-American Federation of Television and Radio Artists (SAG-AFTRA) recently joined the Writer’s Guild of America in their months-long strike against studios, streaming services and production companies represented by the Alliance of Motion Picture and Television Producers (AMPTP).

It marks the first time in over six decades that the two unions have been on strike at the same time.

Photos Credit: CAA

Source: Fox Business.