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Wasserman Buy Out Moves Forward With Investment From Providence
['Tom Tapp']
Deadline
Providence Equity Partners today announced an additional investment in The Team (formerly Wasserman) to help the agency buy out its founder.
Also per the Wall Street Journal, Providence already had about a 60% stake in the agency this past April.
“We’re incredibly excited to further strengthen our partnership with THE•TEAM,” said Davis Noell, Senior Managing Director, Co-Head of North America at Providence.
Providence also said in a statement that it is committed to “providing the capital and partnership needed to expand THE•TEAM’s capabilities.”
Almost all of the potential bidders are interested in the whole shebang: A-lister heavy Brillstein Entertainment Partners, what was once the Paradigm Talent Agency, the various consultancies and more.