French tycoon François-Henri Pinault, the CEO of luxury fashion house Kering, is currently engaged in advanced negotiations to acquire a majority stake in Hollywood talent agency Creative Artists Agency (CAA), as reported. CAA, which represents esteemed actors such as George Clooney, Brad Pitt, and Scarlett Johansson, is supported by private equity firm TPG. Insiders familiar with the discussions informed Bloomberg News that a majority stake in CAA could potentially be valued at “at least $7 billion.” These talks come at a time when the entertainment industry is grappling with a significant strike by actors and writers. However, it should be noted that no final decision has been reached, and the negotiations may still fall through. Bloomberg attempted to contact CAA for a statement, but there has been no response yet. Similarly, no comment has been provided by a spokesperson for Pinault, despite requests from Bloomberg.
Pinault, who is 61 years old, is not unfamiliar with Hollywood, having tied the knot with actress Salma Hayek in 2009. Pinault has also engaged in Hollywood projects through his company, Kering. Hayek, who was born in Mexico and is currently 56 years old, is a client of CAA. Pinault’s family holds a 41% stake in Kering, which owns renowned designer brands such as Gucci, Saint Laurent, and Balenciaga. With a net worth of $41.7 billion, Pinault ranks 30th on the Bloomberg Billionaires Index.
Founded in 1975 by Michael Ovitz, CAA offers talent management services and packaged content for Hollywood studios. Like its competitors, WME and United Talent Agency, CAA is financially supported by a private equity firm. In 2010, TPG acquired a 35% stake in CAA, which increased to 54% in 2014, giving the firm control of the business at a valuation of $1.1 billion. According to Bloomberg, CAA further expanded its portfolio by purchasing the smaller agency ICM Partners for $750 million two years ago. ICM Partners represented influential creators such as Shonda Rhimes, the mastermind behind “Grey’s Anatomy” and “Bridgerton.”
Additionally, Pinault’s Kering Foundation has been organizing the Women in Motion initiative at the Cannes Film Festival since 2015. This year, Saint Laurent, a brand under Kering, launched Saint Laurent Productions, led by house creative director Anthony Vaccarello. Deadline reports that the production unit unveiled its debut projects at Cannes, including Pedro Almodóvar’s latest short film, “Strange Way of Life,” featuring Ethan Hawke and Pedro Pascal, alongside another yet-to-be-named short film.
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