Over the weekend, Brooks Barnes wrote a wonderful article on the chief executive officer of Wasserman Media Group, Casey Wasserman. Nestled within that brief biography is a little known fact – Wasserman is contemplating a bid for IMG Worldwide, which has been well documented as a company that is up for sale and probably going to fetch billions of dollars in exchange for its assets and relationships.
As Mr. Wasserman contemplates a bid for IMG, he must weigh a challenge coming from an unlikely corner: Hollywood. The two biggest talent agencies, Creative Artists Agency and William Morris Endeavor, are both likely IMG bidders. Creative Artists, in particular, has been muscling into sports as the movie business shrinks and star wattages dim. Another movie company, Relativity Media, has also been coming on strong in sports; last year, it bought the football agency Maximum Sports Management and SFX Baseball.
It actually is not a complete surprise that Wasserman may be contemplating a bid for IMG. Back in April, Wasserman Media Group was listed among other potential agencies as potential purchasers. However, while Wasserman may put in a bid, it may be difficult for the $150 million business to compete with the likes of Creative Artists Agency.