Company Town

The business behind the show

« Previous Post | Company Town Home | Next Post »

Evolution Media Capital making mark in sports

March 20, 2012 | 10:21 am

Bob Stanley and Rick Hess of EMC
In less than four years, Evolution Media Capital, a boutique investment bank backed by Hollywood's biggest talent agency, Creative Artists Agency, has made a mark in the sports and entertainment landscape.

Deals in which EMC played a hand include sales of the Texas Rangers and Philadelphia 76ers as well as the new TV agreements between the Pac-12 conference and ESPN and Fox. EMC also advised on the sale of CKX, the parent company of "American Idol" producer 19 Entertainment. Overall, EMC has had a hand in more than 20 deals with a combined value of $15 billion.

For CAA, which holds a large stake in EMC and houses the firm in its Century City headquarters, the relationship is part of a strategy to expand beyond its traditional talent representation business and create new revenue streams at a time when the movie and television industries are tightening their belts.

With CAA representing lots of big-name athletes, including Derek Jeter and LeBron James, and EMC often in business with team owners, the two have to avoid any conflict of interest. Hess insists that there is a strict division between the two operations even though they share real estate.

For more on how EMC has made its mark, please see the story in Tuesday's Los Angeles Times.

ALSO:

Disney takes bath on "John Carter"

Tough times at Oprah Winfrey's OWN

Patrick Goldstein's take on Hollywood flops

-- Joe Flint

Photo: Robert Stanley, left, and Rick Hess, co-founders of Evolution Media Capital. Credit: Jay L. Clendenin / Los Angeles Times

 

Comments 

Advertisement










Video