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TPG Acquires Untitled Entertainment from Boat Rocker Media

TPG Acquires Untitled Entertainment from Boat Rocker Media

 


Boat Rocker Media Inc. has sold its stake in talent management company Untitled Entertainment LLC to TPG for approximately C$51.6 million.

TPG, a global investment firm, holds interests in entertainment companies including Calm, Creative Artists Agency (CAA), DirecTV, Entertainment Partners, Fandom, MusixMatch and Spotify. TPG’s new talent management company aims to acquire, invest in and grow a diversified global business focused on talent management, representation and adjacent verticals.

As part of this transaction, Michel Pratte was appointed CEO of the new company and Eric Taitz, COO, both effective immediately. Pratte has worked for Boat Rocker for over 15 years in various management positions, while Taitz has also served in various roles at Boat Rocker since 2018.

Boat Rocker intends to use the proceeds of the transaction primarily to support its content-driven strategy, with an increased focus on investing in intellectual property, particularly in scripted television, premium documentary programming and animation.

“Our collaboration with Untitled over the past five years has paved the way for strong partnerships and relationships with talent,” said Ivan Schneeberg and David Fortier of Boat Rocker. “This exciting new opportunity to continue our business with Untitled, as well as partner with world-class investor TPG, allows us to maintain our ties to the representation industry while focusing on our core business: intellectual property . Through our partnership with the company, we are also excited to continue working with Michel and Eric, two extremely capable individuals who have extensive knowledge of the talent management industry. Given continued market uncertainty, we believe more than ever that using our capital and corporate resources to maximize control over our destiny and provide the greatest flexibility in our intellectual property strategy is the right best way forward. »

TPG Growth is financing the investment. LionTree Advisors acted as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP and Stikeman Elliott LLP acted as legal advisors to Boat Rocker for the transaction.

Sources

1/ https://Google.com/

2/ https://variety.com/2024/biz/news/tpg-untitled-entertainment-boat-rocker-media-1236056580/

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