Almost nine months to the day after the surprise Deadline scoop that CAA was acquiring ICM Partners, the deal is finally going through after getting government approval to create a mega agency in the biggest linkup in the space since the WMA-Endeavor merger.
Sources close to the situation said the Department of Justice finally approved the deal late last night or this morning, and it closed.
It is valued around $750 million, and the combined value of assets is around $5 billion.Around 105 positions will be eliminated, all from ICM, and coming from all areas.
There will be 425 ICM agents and staffers from the agency joining CAA. These conversations will happen quickly. A couple of dozen agents and other staffers who have left in the past few months after the regulatory approval process dragged on, delaying the deal by about six months from the time frame CAA and ICM originally had projected.
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