That investment will put the agency’s value at $6.3 billion, up from its $5.5 billion valuation last year. WME-IMG is poised to land a major cash infusion.
The super agency is in final negotiations to receive a $1.1 billion investment led by Canada Pension Plan Investment Board and Government and a Singaporean fund, The Hollywood Reporter has confirmed. The deal is expected to close later this month.
That investment will put the agency’s value at $6.3 billion, up from its $5.5 billion valuation last year.
The deal is being negotiated by WME-IMG and Silver Lake Partners, the private equity firm that owns a significant stake in WME-IMG, announced the deal Tuesday in a letter to investors. Silver Lake first bought a 30 percent stake in WME back in 2010. In 2013, the agency and the investment firm first announced an agreement to acquire IMG Worldwide.
Last year, WME-IMG received a $250 million investment from Japan's SoftBank, followed by a $55 million investment from mutual fund giant Fidelity Management and Research Co.
All of the extra cash is expected to help fund the agency's sprawling ambitions, including acquisitions.