Mega agency to represent both actors and athletes
December 19 , 2013
Hollywood agency William Morris Endeavor Entertainment is expected to buy the sports agency called IMG Worldwide.
WME's co-CEO said the sports agency holds an "incredible strategic value" and "leadership across sports, fashion, and media are a strong complement to our business."
WME will beat a bid from a private equity firm and pay about $2.4B.
The Journal explained that this deal proves the fact that Hollywood stars aren't what they used to be; contracts for A-list actors have significantly fallen off.