Consolidation in the talent representation business isn’t over yet.
Paradigm Entertainment, the owner of Paradigm Talent Agency, is acquiring a trio of representation and management companies and forming a new division to house them: Paradigm Media Entertainment.
Paradigm Media Entertainment will expand Paradigm’s reach into the worlds of TV news and culinary programming. The acquired companies include Napoli Management Group and 3 Kings Entertainment, which specialize in broadcast news talent, and Two Twelve Management, which specializes in chefs and other culinary talent.
Napoli and 3 Kings represent talent at channels like CNN, Fox News, ESPN and NFL Network, as well as local stations across the country. Two Twelve’s clients include Top Chef judge Tom Collicchio, and Food Network talent like Anne Burrell and Geoffrey Zakarian.
Paradigm acquired the firms from the family office Blue Equity, which is also committing to support the new venture’s future growth. Terms of the deal were not disclosed.
Both Paradigm Media Entertainment and Paradigm Talent Agency will be majority-owned by Paradigm Entertainment, which counts Paradigm founder Sam Gores as a shareholder. The companies will be based in offices in Los Angeles and New York.
Napoli Management Group’s Mendes J. Napoli, Two Twelve Management & Marketing’s Scott Feldman and 3 Kings Entertainment’s Matthew Kingsley will lead Paradigm Media Entertainment.
The two Paradigm companies “will provide their respective clients access to the extensive entertainment, publishing, brand partnership, and news media services of each business.”
News and food are particularly crowded fields, with food-related TV programming in high-demand from streaming services and linear TV channels, and relatively few TV-friendly culinary talents (many of which are repped by Two Twelve). News, meanwhile, has become a growth business as broadcast and cable news divisions continue to staff up, while also investing in streaming services to complement their linear offerings.
Founded by Sam Gores in 1992 in a rollup of representation firms, the company received an investment from Tom Gores (Sam’s brother) in 2020.
But Paradigm’s latest rollup follows a year of tumult and change in the agency business.
Endeavor, the owner of agency WME, went public in an IPO last year and acquired 100 percent of the UFC. It has also been on an acquisition spree, though its targets, like Barrett-Jackson and OpenBet, are focused on sports and lifestyle businesses, rather than representation.
And CAA completed its acquisition of ICM, creating an agency juggernaut valued at $5 billion. UTA, meanwhile, received a cash infusion from private equity firm EQT Partners, and has been on an acquisition spree of its own, including the strategic advisory firm MediaLink, and the U.K. literary agency Curtis Brown Group.