LOS ANGELES (CelebrityAccess) Liberty Media Corporation, already a big investor in Live Nation, is reportedly looking at acquiring a stake in Creative Artists Agency.
Any investment in CAA would give Liberty “greater negotiating leverage for its other businesses, namely Formula One,” the motor racing championship it acquired in 2016, according to Financial Times. Liberty Media already has a 30 percent stake in Live Nation plus is the majority owner of SiriusXM and recently acquired streaming service Pandora.
Liberty and CAA are already partners in Formula One. A representative for TPG, the private equity firm that owns a majority of CAA, told FT is approached regularly with offers but it was not in “active discussions” regarding CAA. Other investors in the booking agency are China’s CMC Capital Partners and Temasek of Singapore.