The question on the mind of many insiders is how seriously should the town take Wasserman’s announcement that he plans to sell his company? Some are taking it at face value.
Some Hollywood pundits thought that if Wasserman — who remains as Los Angeles 2028 Olympics boss — could survive the week, he might be able to hold onto his empire, with one sports biz pro telling us they saw the sale as a “drastic move.
” Others close to Wasserman were taken by surprise, and tell us he was privately tight-lipped about the sale, which is “already underway,” according to a memo sent to his 4,000 staffers and leaked to the Wall Street Journal. The question on the mind of many insiders is how seriously should the town take Wasserman’s announcement that he plans to sell his company? Some are taking it at face value. “Providence is pissed,” said one knowledgeable source, referring to the Rhode Island-based private equity firm Providence Equity Partners, which took a controlling stake in Wasserman in 2022. “They are going to have to take control of the company and then figure out what to do, which is probably sell it all.”Does Providence just buy out Wasserman and run the company with an eye toward letting him buy back his ownership when the controversy dies down? Does it keep certain assets, like the sports business, and sell others? If it does sell, it won’t be hard to find interested buyers. “It’s going to be a feeding frenzy,” said one agency rival of the sale, pointing out that firms like UTA and WME would be interested in buying portions of the company. Rumors have swirled in recent years that UTA would be interested in acquiring Wasserman’s sports, and potentially its music, division, which would compliment UTA’s existing departments and help UTA scale up to better compete with CAA and WME.’s Silver Lake-backed investment firm, WTSL, making a play for Wasserman’s sports assets, although that would likely require an additional injection of capital. Under fire Casey Wasserman hosts NBA All-Star reception in LA — as he looks to recover after Epstein filesInsiders tell us that the timing of the sale is strategic to stop the flow of artists and agents who could jump ship and further hurt the valuation of the company. “If they’d waited, the value could have dropped from, say, a billion to $600 million,” posited a rival. Most view any potential deal as a private equity play, adding the firm could be chopped up, since Wasserman has sports and music businesses as well as the management firm Brillstein Entertainment Partners. Plus, “You don’t sell it that quickly — this is a process,” said the source. “The whole goal is to sell these things anyway, this will just expedite it. These guys could not afford to wait another week under the threat of these artists leaving.” Another source pointed out, “When you buy the company, you’re not buying IP,” like a studio. “It’s the agents and clients, and they can leave at any minute,” despite their contracts.The move would also mean that Wasserman’s name will be wiped from the agency, we hear. was on irreverent industry trade Hits’ “HitsList” of weekly winners in a post that crowed, “Team Wass EVP/managing executive oversees , Blur, Sigur Ros, Snow Patrol, more. In other words, a straight flush, all Diamonds.” Mused one music pro to us, “Casey can’t have been happy about that!”
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