After Epstein scandal, Hollywood bidders race for Wasserman's $3-billion agency
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Several private equity firms and Hollywood power players, including United Talent Agency and longtime agent Patrick Whitesell, have expressed interest in buying parts of Casey Wasserman’s music and sports management firm after it abruptly went up for sale.Wasserman became ensnared in controversy earlier this year after his salacious decades-old emails to Ghislaine Maxwell, an accomplice of child sex offender Jeffrey Epstein, were released as part of the U.S.
Justice Department’s trove of Epstein files.The agency auction is in the early stages, according to three people close to the process but not authorized to comment.
Earlier this week, several interested parties submitted proposals to meet a preliminary deadline in the auction, two of the sources said.The company, which changed its name to the Team last month, is expected to be valued at around $3 billion.Olympics Newly-released risque emails with Ghislaine Maxwell, longtime confidant of convicted sex offender Jeffrey Epstein, threatens Casey Wasserman’s role overseeing the 2028 Los Angeles Olympics Games.Providence Equity Partners holds the majority stake.
The private equity firm has discussed selling the entire company or carving off Wasserman’s minority interest.Providence also has considered selling the bulk of the firm and staying on as a minority investor, one of the sources said.
Another scenario could involve separating, then selling the individual business units that make up the Team.Providence declined comment.Wasserman and Providence’s company boasts an enviable roster of music artists, including Kendrick Lamar, Coldplay and Ed Sheeran.Its sports marketing practice is viewed as particularly lucrative and has potential to grow in value as big dollars flow into sports that draw large crowds.
Wasserman, who declined to comment, has a veto right over any sale of the company that he has spent a quarter of ...