Leading talent agency CAA has partnered with China's CMC Capital Partners (CMC) to form media and entertainment platform, CAA China.
Majority-owned by CAA, CAA China combines the expertise and resources of CAA with the reach and network of CMC in Greater China. The deal also involves a minority strategic investment by CMC in CAA and sees CMC chairman Li Ruigang join CAA’s Board of Directors.
CMC, founded by Ruigang in 2010, is a leading investor in the media and entertainment, internet and mobile, and lifestyle sectors in China. Los Angeles-headquartered CAA opened a China office in 2005.
“For more than a decade, we have served as a vital bridge to and within the Chinese market, utilising our deep experience and network to support the work of the region’s best artists and to develop opportunities within the market for international talent,” said CAA president Richard Lovett.
“CAA China will supercharge our efforts, from motion pictures, television, endorsements, and brand consulting to sports, live events, digital media, and beyond. CMC, under the leadership of Li Ruigang, has a remarkable record of success in the region, and we are confident that our partnership will yield tremendous results for our clients and future business partners in China.”
“We believe China and the US are the two biggest entertainment markets and play pivotal roles on the global landscape. The partnership not only creates commercial and industry value, but also serves as an innovative force in the evolution of the Chinese media industry,” added Ruigang. “CAA is a prominent institution in the US entertainment and sports sector, which has built its success on systematically and consistently enabling the success of their clients throughout the years.
"We are immensely excited about the potential possibilities of an enhanced China angle by CMC coupled with the experience and resources of CAA. CMC has been in a highly productive cooperation with CAA under the leadership of Richard Lovett, and we look forward to greater accomplishments in the future.”
CAA's music clients include Ed Sheeran, Katy Perry, Red Hot Chili Peppers, Florence + The Machine and Sam Smith.
CMC’s previous and current investment and operational portfolio includes IMAX China; Star China, China’s top variety production firm; Flagship, a joint venture studio with Warner Bros.; and City Football Group, a football club management company that owns Manchester City FC and New York City FC.