French billionaire Francois-Henri Pinault is in final talks to buy a majority stake in CAA in a $7 billion deal, according to an unconfirmed Bloomberg News report.
Pinault, who is married to Mexican actress Salma Hayek, is the CEO of luxury fashion group Kering and president of its parent holding Groupe Artémis.
According to Bloomberg, talks are at an advanced stage but a deal is not a certainty at this stage. News of the potential deal broke just hours after actors’ union SAG-AFTRA announced its members would be going on strike as of midnight in L.A., after talks with studios and streaming services had failed.
The negotiations also come just one year after CAA closed its $750 million acquisition of ICM Partners to create a mega agency.
Read more on deadline.com
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