United Talent Agency has made another big strategic move by acquiring the world’s largest independent music agency, the Agency Group.
UTA signaled its expansion plans earlier this year by hiring several leading agents from rival Creative Artists Agency, which sued and called the hires “a lawless, midnight raid.” Now the Beverly Hills firm has strengthened its music division by buying Agency Group, a global company representing many major touring and live music artists, including Muse and Paramore. Financial terms were not disclosed.
The current strength of the touring business made the deal especially attractive for UTA, which has a stable of music stars under management, including Kanye West, Mariah Carey and Dolly Parton.
Positioning itself for further growth, UTA also announced Thursday it has accepted an undisclosed minority investment from San Francisco hedge fund manager Jeffrey Ubben, who becomes a minority shareholder and non-voting board member at UTA.