CAA's top agents in line for near $400 million payday
Some of Hollywood’s top talent agents and executives at Creative Artists Agency, which represents A-listers Julia Roberts and Brad Pitt, are in line for a nearly $400-million payday as the agency seeks a $1.15-billion loan to help buy back employee shares.last month, CAA and its bankers are in talks with potential creditors to replace an existing loan of more than $750 million at potentially more attractive interest rates, said a person familiar with the talks who was not authorized to comment.
in a statement, detailing plans for the $1.15-billion loan and a $125 million revolving credit facility. The rating agency noted that leverage would be high following the proposed loan but said CAA is expected to benefit from positive industry conditions driven by strong demand for content over the next two years.
The agency saw a surprise exit this summer when CAA Global Chief Executive Steve Hasker, who was in charge of most of CAA’s business outside of traditional talent representation,Hasker was tasked with building business in its joint venture in China, and with its investment bank Evolution Media Capital and innovation arms CAA Ventures and CAA Labs.
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