Creative Artists Agency announced Monday that minority owner TPG Capital of Fort Worth, Texas, had agreed to increase its investment in CAA to a majority position.
Though terms were not disclosed, the Wall Street Journal reported that TPG, a global investment firm, had invested another $250 million in CAA, boosting its stake to 53 percent from 35 percent. The investment values the Century City entertainment and sports agency at more than $1 billion.
TPG said current CAA management had been signed to extended contracts.
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