The Future. Flush with cash from Crestview Partners (the first private equity investment the company has taken since 1949), The Gersh Agency is looking to level up. It may buy a rival or expand into new areas of representation. Whatever Gersh ends up doing, its intention to expand may demonstrate that very few agencies are comfortable staying small while top firms become more than representation houses.
Gersh wants to make some headlines.
- THR reports Gersh tried to buy Verve, but the overture was quickly shut down.
- So, the firm is keeping its options open, including getting into live entertainment, sports, and music representation, and making a play for another agency.
Gersh’s appetite for a deal or talent expansion shows the agency may feel like the only way to compete in the brave new world of super agencies, like WME and CAA (which recently took over ICM and is possibly up for sale itself), is to be what they were… about ten years ago.
It’s a similar proposition to APA’s merger with AGI to form International Artist Group. The new ambition is to scale enough to take on UTA — the other acronym in the Big Three, which is also on an acquisition spree.
It looks like agencies are making as many deals for themselves as they are for their talent (pre-strikes, of course).