French billionaire Francois-Henri Pinault is in final talks to buy a majority stake in CAA in a $7 billion deal, according to an unconfirmed Bloomberg News report.
Pinault, who is married to Mexican actress Salma Hayek, is the CEO of luxury fashion group Kering and president of its parent holding Groupe Artémis.
According to Bloomberg, talks are at an advanced stage but a deal is not a certainty at this stage.
News of the potential deal broke just hours after actors’ union SAG-AFTRA announced its members would be going on strike as of midnight in L.A., after talks with studios and streaming services had failed.
The negotiations also come just one year after CAA closed its $750 million acquisition of ICM Partners to create a mega agency. At the time, the combined value for the merged agencies was estimated at around $5 billion.
Pinault’s Kering Group is one of the largest luxury goods conglomerates in the world alongside compatriot rival LVMH (Moët Hennessy Louis Vuitton).
Luxury brands under its umbrella include Gucci, Saint Laurent, Balenciaga, Alexander McQueen, Brioni and Bottega Veneta.
Under its Kering Foundation, it has strong connections with cinema, organizing the Women in Motion initiative at the Cannes Film Festival since 2015.
Elsewhere, in the group, the Saint Laurent label, launched a production banner this year.
Headed by the brand’s creative director Anthony Vaccarello, its first productions included Pedro Almodóvar’s Cannes 2023 short Strange Way of Life and projects with David Cronenberg and Paolo Sorrentino are also in the works.
Alongside Kering, other assets of parent holding company Groupe Artémis include sports equipment manufacturer Puma, auction house Christie’s, French news magazine Le Point, Breizh Café chain and the Stade Rennais F.C Ligue 1 soccer team, which wears a kit designed by Balenciaga.
Deadline has contacted CAA and Kering for comment.
