Sports and music representation powerhouse, Wasserman, has recently completed its acquisition of Hollywood management and production company, Brillstein Entertainment Partners. The terms of the acquisition were not disclosed. This move marks Wasserman’s entry into the film and TV representation and production industry, adding to their already successful business in sports and music management.
Wasserman Chairman & CEO, Casey Wasserman, alongside Brillstein Co-CEOs, Cynthia Pett and Jon Liebman, announced the acquisition. Wasserman’s entrance into the entertainment industry comes after their takeover of the music touring business from Paradigm agency, a move that allowed them to adapt their business strategy in the wake of the pandemic’s impact on live touring revenues.
This acquisition follows a trend of strategic alignments in the management industry, such as 3Arts’ deal with Lionsgate and Range Media Partners’ partnership with Automatik.
The merging of Wasserman and Brillstein is expected to be seamless due to their compatible business models and shared values. There will be no layoffs, and Brillstein’s 30+ managers and support staff will continue to operate from their current headquarters in Los Angeles and New York.
The collaboration between these two companies has already resulted in a high-profile deal to produce a feature documentary alongside a memoir by basketball player Brittney Griner, who was imprisoned in Russia. Wasserman’s acquisition of Brillstein adds substantial entertainment management and content capabilities to their existing portfolio, which focuses on serving a range of sports and entertainment figures, music artists, brands, and properties.
Brillstein’s client roster is impressive, including stars like Brad Pitt, Adam Sandler, Russell Crowe, and many others. Their established talent management experience will complement Wasserman’s existing strengths and provide valuable opportunities for collaboration and growth in the ever-changing entertainment industry.
Sources: Deadline