New releases, music videos and album news — indie, rap, rock and pop. Always covering Ren, Chris Webby, Sam Tompkins, bbno$, CHINCHILLA, Muse, Yungblud and more.
Providence set to fully acquire Casey Wasserman’s THE•TEAM, valuing agency at $3.4B (report)
Providence Equity Partners is reportedly close to buying Casey Wasserman’s remaining stake in THE•TEAM, giving the private-equity firm full ownership of the sports, music and entertainment agency. The deal would value the company at about $3.4 billion and follows a sale process launched after Wasserman stepped back amid scrutiny over historic correspondence with Ghislaine Maxwell.
Providence already owns roughly 60% of THE•TEAM; the unsigned deal, overseen by Moelis & Company, is expected to close within weeks after attracting around a dozen bidders. THE•TEAM employs about 4,000 people, including 400 in Wasserman Music, which represents major acts such as Kendrick Lamar, SZA, Coldplay and BLACKPINK; Wasserman will reportedly sign a non-compete agreement while remaining chair of LA28.
In short
- Providence reportedly plans full ownership of THE•TEAM.
- The agency is valued at approximately $3.4 billion.
- Wasserman remains chair of LA28.
Explained simply
THE•TEAM is a sports, music and entertainment agency that represents major recording artists including Kendrick Lamar, SZA, Coldplay and BLACKPINK, whilst managing talent across multiple entertainment sectors. The company employs approximately 4,000 people and is one of the world's largest entertainment management operations.
Casey Wasserman founded THE•TEAM and has led it as the majority owner, but he has announced plans to sell his remaining stake following public scrutiny over historic correspondence with Ghislaine Maxwell, the British socialite whose name became prominent during the Jeffrey Epstein scandal. His departure marks a significant leadership change at the agency.
Providence Equity Partners is a major private-equity investment firm that already owns roughly 60% of THE•TEAM and is now acquiring Wasserman's remaining stake to gain full ownership. The transaction values THE•TEAM at approximately $3.4 billion, reflecting the company's substantial scale and central role in representing some of the world's most prominent entertainment and sports figures.