Paradigm Entertainment bulks up again after talent agency cuts
The parent company of Paradigm Talent Agency, the once prominent firm that took steps to scale back its business during the pandemic, appears to be bulking up again.
Paradigm Entertainment said Wednesday it acquired talent representation firms Napoli Management Group, Two Twelve Management & Marketing and 3 Kings Entertainment.
3 Kings Entertainment and Napoli represent broadcast talent, with Napoli’s roster including more than 550 TV anchors, reporters, weathercasters and sportscasters in the U.S. Two Twelve Management represents more than 75 culinary stars and celebrity chefs.
Those three businesses will combine under one company called Paradigm Media Entertainment, Paradigm Entertainment said, which did not disclose the financial terms of the deal or total number of employees.
The acquired companies were owned by Blue Equity, a Louisville, Ky.-based private equity firm that will advise Paradigm Media Entertainment and has “made a commitment to support its future growth,” Paradigm Entertainment said.
Paradigm Entertainment is the majority owner of Paradigm Talent Agency, whose music talent representation business took a hit when live events were suspended or canceled during the health crisis.
Paradigm Talent Agency on Thursday said it laid off 250 people last week, citing the fallout from the COVID-19 pandemic. Former staffers have blasted the company over its handling of the layoffs.
“Paradigm Talent Agency and Paradigm Media Entertainment will provide their respective clients access to the extensive entertainment, publishing, brand partnership, and news media services of each business,” Paradigm Entertainment said in a statement.
During the pandemic, Paradigm Talent Agency and similar representation companies made significant cuts to their business.
In March, Paradigm Talent Agency laid off 250 employees, later hiring some back. The company sold its North American live music representation business last year to Casey Wasserman’s L.A.-based sports marketing and talent management firm for an undisclosed price last year.
Earlier this year, the company put its Beverly Hills headquarters up for sublease. In May, Paradigm moved its L.A. office to the Pacific Design Center in West Hollywood, where other entertainment businesses including Pluto TV and studio A24 are located.
Paradigm Talent Agency is looking for a new tenant at its Beverly Hills headquarters, according to a subleasing brochure obtained by the Los Angeles Times.
The company also lists an office in New York on its website.
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