ICM Considers Buyers

(CelebrityAccess MediaWire) –International Creative Management has hired investment bankers Allen & Company to work with them on strategic options that include a possible sale of, or outside investment in, the agency, the New York Post reports.

Private Investor Suhail Rizvi and entertainment entrepreneur Bob Sillerman are interested in buying a majority stake in the company, sources familiar with the situation told the paper. A board meeting has already been scheduled to consider these two proposals.

Sillerman is well known in the industry for starting SFX Entertainment and buying up independent promoters in the ‘90s. After consolidating the concert promotion industry, he sold SFX to Clear Channel Communications. A few years ago Sillerman formed FXM to acquire various entertainment industry-related firms. He also made an unsuccessful bid for Jeff Kwatinetz’s The Firm. — Jane Cohen and Bob Grossweiner

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