As billionaire Tom Gores' investment vehicle takes an ownership stake in Paradigm, more change may becoming to the financially challenged agency as several deep-pocketed investors eye its music division, including Casey Wasserman and Ron Burkle, sources tell The Hollywood Reporter.
Sources close to the negotiations say Wasserman, Burkle and Tom Gores would be partners in a spun-off entity, but Wasserman – whose titular agency is second only to CAA in the sports representation space – would have operational control because of the structure of the deal.
Paradigm boasts an expansive music roster — including Billie Eilish, Coldplay, Kacey Musgraves and Imagine Dragons — after years of buying boutique firms.