Wasserman Buys 3 Talent Firms in 3 Weeks
RockWater Roundup
RockWater analysis to make you a better investor and operator. Today we discuss Wasserman’s acquisition of J1S.
Wasserman Buys 3 Talent Firms in 3 Weeks
by Chris Erwin
Wasserman bought 3 talent firms in 3 weeks.
That makes 13 acquisitions in past 2 years 🤯
Their backer Providence Equity must be pushing them hard!
Of note, Providence didn’t come in until Nov 2022 when they bought out RedBird Capital’s stake.
Recent deal timeline…
9.18 –> Brillstein
10.3 –> CSM
10.10 –> J1S
These 3 recent deals show they’re doubling down on…
– Sports
– Creator Economy
– Chops to package premium projects
A very valuable intersection for the modern media economy!
Key facts about J1S:
– Founded in 2019
– Co-founders are married
– Whole team joining Wasserman
– CEO Michael will now lead Wasserman Creators division
Big question I’m asking…did RedBird cash out too soon?
They bought 30-40% of Wasserman in 2020. Were only 2nd outside investment into company after Madrone Capital, founded by Rob Walton the Walmart heir and Denver Broncos owner.
RedBird has ramped up investments in sports teams like AC Milan and more through FenWay Sports Group. I see strong strategic fit with Wasserman’s athlete representation!
But maybe RedBird simply got a great price from Providence. And RedBird wanted to double down on sports team ownership VS talent roll-up, and decided to let Providence take that…swing!
If these insights are relevant to projects you’re working on, ping us here. We love talking all things media x commerce!
