Wasserman Music launches with ‘plans to broaden assertively as stay leisure enterprise rebounds’

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US-based sports and entertainment talent agency Wasserman has completed the acquisition of the North American live music representation business of Paradigm Talent Agency and created a new division called Wasserman Music.

Los Angeles-based Paradigm announced in March that it had agreed to sell its music division to Wasserman, led by chairman and CEO Casey Wasserman, after it was reported in May last year that they were in talks.

According to a press release, the new store “opens with a strong balance sheet of more than 130 employees and plans to expand assertively as the live entertainment business takes off in 2021 and 2022”.

Artists on Wasserman Music’s list include Kenny Chesney, Coldplay, Billie Eilish, Imagine Dragons, The Lumineers, the Dave Matthews Band, Janelle Monáe, Kacey Musgraves, Old Dominion, Phish, Ed Sheeran, Lorde, and others.

Structurally, Wasserman says the division will operate as a unit of the larger Wasserman organization and will be led by Casey Wasserman, his existing executive management team, and what the press release describes as an “experienced group of executive agents”.

Marty Diamond, Jonathan Levine, Jackie Nalpant, Sam Hunt, Corrie Martin, Lee Anderson and Matt Rodriguez will focus on running the business on a daily basis.

In the meantime, Tom Windish, Joe Rosenberg and Lori Feldman will round out the team to provide business development, operations and marketing support, and expertise and connectivity to run and integrate all branded entertainment.

Wasserman says that while the founding of Wasserman Music marks the agency’s “foray into artist representation,” the new company will draw on the larger Wasserman organization’s “marketing and analysis pedigree” to advise and strategize for its clients to activate.

Wasserman Music and Wasserman say they will coordinate on what is known as a “Music meets Method” model, in which the tour activities, content and partnerships of the artists are supported by analysis and insight platforms.

In a statement confirming the sale of the North American music business to Wasserman last month, Sam Gores, CEO of Paradigm, described the deal as “a win for all parties and an important step on the road to restructuring that we have before.” more than a year ago “.

The paradigm was influenced by the live music activity stopped due to coronavirus in 2020. In March of last year, preparations began to lay off over 100 employees.

Gores reportedly intended to make the layoffs “temporary,” but by September the agency confirmed that 180 employees would be permanently dismissed.

Wasserman was represented by Sullivan & Cromwell LLP and Manatt, Phelps & Phillips, LLP. JP Morgan Securities LLC acted as exclusive financial advisor to Wasserman.

Paradigm was represented by Venable LLP.

“It’s both exciting and bittersweet to reach this agreement, move into a new era for Paradigm, and initiate a stabilizing solution during a global pandemic that has created an existential crisis for our industry.”

Sam Gores speaks in MArch

Gores added in a statement released last month, “It’s an important transition for Paradigm’s incredible music agents and the artists they serve so well.

“We are huge fans of Casey Wasserman and the company he built, and I am delighted that he and his team will be at the forefront of this important business area.

“It’s both exciting and bittersweet to reach this agreement, move into a new era for Paradigm, and initiate a stabilizing solution during a global pandemic that has created an existential crisis for our industry.”

“This is a dynamic opportunity to create new collaborations between the brand family and talent that Wasserman is currently representing in meaningful and impactful ways and I look forward to getting started.”

Casey Wasserman

Casey Wasserman said, “I have worked side by side with this remarkable group of people to create a blueprint for success and I am consistently impressed with their tenacity and care for their customers and the business.

“Most importantly, however, our shared commitment to nurturing a culture of progress so that this new business will adequately reflect the artists and fans we serve.

“This is a dynamic opportunity to create new collaborations between the brand family and the talent that Wasserman is currently representing in meaningful and impactful ways, and I look forward to getting started.”Music business worldwide

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