UTA Acquires The Agency Group [OFFICIAL]
[UPDATED] The Agency Group, the last large independent music booking agency, has been acquired by the United Talent Agency (UTA). Just a few weeks ago, the other large indie agency, Windish, partnered with Paradigm.
The Agency Group founder Neil Warnock will become head of music for UTA, and current Agency Group CEO Gavin O'Reilly will step down.
The deal makes UTA, which already had a music division, a major player in live touring. For Agency Group clients, it means access to departments making deals in digital content, film, television, gaming, books, branding and licensing.
UTA also announced that it has sold a minority stake to hedge fund manager Jeffrey Ubben, founder and chief executive of ValueAct Capital. He also holds major positions in 21st Century Fox, Microsoft and Adobe Systems. Competitors WME and CAA have also taken outside capital in recent years.