LOS ANGELES (CelebrityAccess) — Just days after rumors of a potential acquisition of Paradigm by United Talent Agency became public comes word that the deal appears to be officially dead.
According to The Hollywood Reporter, Paradigm’s Sam Gores informed the agency’s staff in a memo on Sunday that negotiations between the two agencies had fallen through.
“After careful consideration and in consultation with leaders of both the Music and Talent/Literary executive groups, I have made the decision to shut down discussions and not make this deal,” Gores wrote in the memo obtained by THR.
Sources close to the negotiations told THR that the deal’s breakdown did not hinge on the terms of the agreement, but in a bid to end speculation about an agreement that was still far from being fully hammered out.
Gores memo also revealed additional details about the proposed acquisition, which included both Paradigm’s Talent/Literary and Music divisions, arguably the strongest aspects of the company. Paradigm’s Music Division represents in particular represents a substantial roster that includes Kacey Musgraves, Shawn Mendes, Mavis Staples, Billie Eilish, and the Black Keys among others.
As Gores noted, had the deal concluded, it would have “represented one of the largest talent agency transactions in the history of our business.”