François Pinault's Artemis to Acquire Majority Stake in CAA: A Mega Deal in Entertainment

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In a significant move within the entertainment industry, French billionaire François Pinault's holding company Artémis has struck a deal to acquire a majority stake in Creative Artists Agency (CAA) from private equity firm TPG Inc. The major acquisition which reshapes the landscape of entertainment representation is valued at a whopping $7 billion, underlining the immense worth of CAA, a powerhouse that has represented top stars in sports and entertainment since its founding in 1975. Notably, this deal will also retain key figures in the leadership team, with CAA's Bryan Lourd, Kevin Huvane, and Richard Lovett committing to continue leading the agency as co-chairmen, with Bryan Lourd expected to take on the role of chief executive officer.