William Morris Endeavor, Silver Lake Buying IMG

BEVERLY HILLS (AP) — Talent agency William Morris Endeavor Entertainment is teaming with investment firm Silver Lake Partners to buy sports marketing firm IMG Worldwide.

Financial terms were not disclosed.

Aside from sports figures, IMG also has clients in the fashion industry. IMG got its start in 1960 with a handshake between Mark McCormack and golfer Arnold Palmer, according to its website. It has 3,500 employees and operates in more than 30 countries.

William Morris Endeavor was created in 2009 when the agency William Morris merged with Endeavor. The Beverly Hills company’s clients include people that work in film, television, music, literature, theater and digital media.

Patrick Whitesell and Ariel Emanuel, co-CEOs of William Morris Endeavor, will serve as co-CEOs of the combined company.

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)


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