Forstmann Little & Co. cut the field of bidders for its IMG Worldwide Inc. talent agency to five, knocking out a joint bid from TPG Capital and Creative Artists Agency, said people with knowledge of the matter.
Forstmann Little & Co. attracted first-round bids for the talent agency IMG Worldwide Inc. from Silver Lake Management LLC, TPG Capital, CVC Capital Partners Ltd. and KKR & Co., people familiar with the matter said.
Creative Artists Agency said it has formed a strategic partnership with global private investment firm TPG Capital. TPG has invested an undisclosed sum for a non- controlling 35 percent interest in the agency.
Michael Ovitz, the former Hollywood agent whose company was said to have created enemies “the way a hurricane produces raindrops,” first met Gary Cohn over lunch at Goldman Sachs Group Inc.’s headquarters in June 2009.
Willie Gault, the former NFL wide receiver and Olympic sprinter, was accused by U.S. regulators of taking part in a scheme to artificially inflate the stock of a medical-device company that he managed.
Jay Z, the entertainer who started an athlete-representation firm in April, is selling his minority share in the Brooklyn Nets to the team’s coach, Jason Kidd, for $500,000, the New York Post reported, according to people familiar with the situation.