Hollywood

Several private equity firms and Hollywood power players, including United Talent Agency and longtime agent Patrick Whitesell, have expressed interest in buying parts of Casey Wasserman’s music and sports management firm after it abruptly went up for sale.

Wasserman became ensnared in controversy earlier this year after his salacious decades-old emails to Ghislaine Maxwell, an accomplice of child sex offender Jeffrey Epstein, were released as part of the U.S. Justice Department’s trove of Epstein files.

The agency auction is in the early stages, according to three people close to the process but not authorized to comment.

Earlier this week, several interested parties submitted proposals to meet a preliminary deadline in the auction, two of the sources said.

The company, which changed its name to the Team last month, is expected to be valued at around $3 billion.

Providence Equity Partners holds the majority stake. The private equity firm has discussed selling the entire company or carving off Wasserman’s minority interest. Providence also has considered selling the bulk of the firm and staying on as a minority investor, one of the sources said. Another scenario could involve separating, then selling the individual business units that make up the Team.

Wasserman and Providence’s company boasts an enviable roster of music artists, including Kendrick Lamar, Coldplay and Ed Sheeran. Its sports marketing practice is viewed as particularly lucrative and has potential to grow in value as big dollars flow into sports that draw large crowds.

Wasserman, who declined to comment, has a veto right over any sale of the company that he has spent a quarter of a century building.

UTA, which also declined to comment, is among the most aggressive suitors, the sources said. The Team’s sports marketing and music representation divisions would dramatically boost the Beverly Hills agency’s profile and client roster.

Whitesell, former executive chairman of Endeavor, separately has been motivated to make investments in sports, media and entertainment since last year when he left the talent agency that he and Ari Emanuel built. Whitesell launched a new firm with seed money from private equity firm Silver Lake and last spring he started WIN Sports Group to represent professional football players.

Whitesell wasn’t immediately available for comment.

European investment firm Permira also has expressed interest, according to a knowledgeable source. Permira declined comment.

The New York Times first reported that Permira, UTA and Whitesell had expressed interest.

The sales process is expected to stretch into summer, the knowledgeable people said. The auction could become complicated particularly if Providence decides to unwind the business.

For example, UTA could not buy the entire company because of the Brillstein television unit. The agency is bound by an agreement with the Writers Guild of America that prevents it from owning television production.

Investment bank Moelis & Company is managing the sale. A representative of the firm declined comment.

Wasserman also is the chairman of LA28, the nonprofit group that will be staging the Summer Olympics in Los Angeles in two years.

Following revelations of Wasserman’s 2003 emails with Maxwell, several musicians and athletes — led by pop artist Chappell Roan and soccer star Abby Wambach — said that, to stay true to their values, they would leave the agency then known as Wasserman.

Wasserman apologized to his staff for “past personal mistakes” and said he would sell the agency.

He had limited dealings with Epstein, flying on the financier’s jet along with former President Clinton for a September 2002 humanitarian trip through Africa.

Wasserman, a prolific Clinton fundraiser whose legendary grandfather, Hollywood titan Lew Wasserman, helped the Democrat win the 1992 presidential election, was joined on Epstein’s jet by his then-wife, Laura, actor Kevin Spacey, Epstein, Maxwell — who was convicted of sexual abuse in 2021 — and others, including security agents.

LA28 board’s executive committee unanimously voted to keep Wasserman as chairman, citing his “strong leadership” of the Games.

Amid the bustle and glitz of last week’s CinemaCon in Las Vegas, one question loomed over the annual trade convention — how will the proposed Paramount Skydance-Warner Bros. Discovery deal affect the movie theater business?

That anxiety showed up in a state of the industry speech from Cinema United trade group President Michael O’Leary, who reiterated his organization’s opposition to further industry consolidation.

It showed up in a trailer for Amazon MGM Studios’ upcoming film “Spaceballs: The New One,” when a voiceover poked fun at Hollywood studios “merging willy-nilly” as images of the Paramount sign and Warner Bros. water tower flashed across the screen.

And the subject again took center stage — literally — when Paramount Chief Executive David Ellison himself gave a speech during his studio’s presentation at Caesars Palace. He sought to reassure the assembled movie theater operators and exhibition executives that the combined company would indeed release a minimum of 30 films a year.

“I wanted to look every single one of you in the eye and give you my word,” he said during an onstage speech, in which he also committed to a 45-day theatrical window and 90-day period before films go to streaming services. “People can speculate all they want, but I am standing here today telling you personally that you can count on our complete commitment. And we’ll show you we mean it.”

It’s true that Paramount has nearly doubled its theatrical releases since Ellison took over. As he noted in his speech, the storied studio is now planning 15 films this year, up from eight in 2025.

But as I’ve written previously, theater owners and other studio executives question how releasing 30 movies a year across the combined Paramount-Warner Bros. would work — not only in terms of giving each film the proper marketing campaign to succeed in theaters but also because of the massive cost cuts that will inevitably occur once the merger is final.

Still, Ellison’s commitment to 30 films a year got a round of enthusiastic applause — and at least one high-profile boost.

A day earlier, AMC Entertainment Holdings Inc. Chief Executive Adam Aron told me in an interview that he backed Ellison’s takeover of Warner, saying he and AMC believed in the tech scion’s talent as a filmmaker and a movie executive, as well as his pledge to release those 30 films a year.

“We’re enthusiastic that David will fulfill his promises,” Aron said. “And that in the end, this will prove to be a good thing for our company and our industry.”

Not everyone shares that enthusiasm.

More than 4,000 people have now signed an open letter opposing the Paramount-Warner deal, arguing that consolidating two studios will lessen consumer choice and job opportunities for creatives, particularly at a time when Hollywood is already struggling. (Notable signatories include “Dune” director Denis Villeneuve, actors Glenn Close and Emma Thompson, as well as director and producer JJ Abrams.)

O’Leary of Cinema United similarly wasn’t convinced.

“While recent pledges attempt to address the threats of consolidation to our industry, they are not yet sufficient in addressing our concerns,” he said in a statement released hours after Ellison’s speech. “We remain open to tangible commitments that will ensure a vibrant global theatrical exhibition industry for years to come.”

Elsewhere at CinemaCon, the mood was upbeat.

Warner Bros. film chiefs Mike De Luca and Pam Abdy struck a triumphant tone after an award-winning year for the studio, capped off by the best picture win for “One Battle After Another.”

They unveiled footage from new films like the upcoming “Digger” from director Alejandro G. Iñárritu and brought out lead actor Tom Cruise to a sustained standing ovation from the audience. And both De Luca and Abdy espoused optimism for the future of the theatrical business. The studio plans to release 14 films this year and as many as 18 for 2027.

“The film business has always required smart betting, and we have 4 billion reasons from last year to think we’re holding the right cards,” De Luca said during the presentation, referring to the studio’s worldwide box office revenue last year.

“We all know they’re not all going to work. That comes with taking swings,” Abdy said of the studios’ films. “There’s no version of this business that’s risk-free. But our job is to step up, make our bets and own it when it doesn’t work.”

But the end of the presentation felt more somber, with the executives asking the heads of Warner Bros.’ labels to come to the stage and be recognized. Shortly after, they asked Warner Bros. employees in the audience to stand for applause. It was hard to escape the feeling that this may be the end of an era.

Stuff We Wrote

Film shoots

Number of the week

1,000

Last week, Walt Disney Co. began a sweeping round of layoffs that’s expected to cull 1,000 jobs across multiple divisions.

As my colleague Meg James reported, the cuts hit Disney’s television and movie studios, sports giant ESPN, its product and technology unit, corporate functions and marketing. Even Marvel Studios’ visual development team was affected.

The layoffs are one of the first major moves under new Disney Chief Executive Josh D’Amaro, who took the reins of the company last month. In a message to employees, he said the company needed to “constantly assess how to foster a more agile and technologically-enabled workforce to meet tomorrow’s needs.”

What I’m watching

Some friends and I watched “Fukushima: A Nuclear Nightmare” this past weekend, a truly eye-opening documentary that explains what happened during the March 11, 2011, nuclear accident and whether the world has learned anything from it.

The KISS Breakfast radio hosts appeared on Channel 4’s Sunday Brunch this weekend

Tyler West and Chloe Burrows made an unexpected admission on Sunday Brunch.

Lorraine presenter Tyler, 30, and Love Island legend Chloe, 30, landed radio host roles on Kiss FM earlier this year, with the pair taking over the Breakfast show from Jordan Banjo and Perri Kiely.

Tyler and Chloe made an appearance on the latest episode of Channel 4’s Sunday Brunch (April 19), where they spoke to hosts Tim Lovejoy and Simon Rimmer about their radio show.

The pair excitedly spoke about meeting a variety of A-list stars through their new show, including Halle Berry, Margot Robbie and Chris Hemsworth. Chloe said: “They were so lovely. Everyone’s been really nice.”

Tim then asked: “Who are the rotten ones?” with Tyler issuing a very candid reply.

“Do you know what I’m going to say, I’m not going to say rotten ones. We had a really awkward one, I’m just going to say it, with Ryan Gosling,” he shared.

Chloe added: “Oh god, it was awful! I think he was really jet lagged and we were his first interview of the day, and we are kind of like a massive ball of energy. We’re like punchline, punchline, punchline, and he looked slightly bewildered.”

Tyler said: “He looked so confused. It literally got to the point where we had three minutes left of the interview and [we were] like, ‘Anything you want to chat about?'”

Chloe continued: “He looked for help,” before adding: “He asked us at one point if we’d actually seen the film, so that was good. And we had.”

Tim then noted: “I reckon if you interviewed him tomorrow, he’d be a lovely bloke, do you know what I mean? That’s how it is.”

Following the announcement of his role at KISS, Tyler previously said in a statement: “KISS FAM! The mornings are gonna be unreal! Taking over from my boys Jordan and Perri is huge… but trust me, I’m ready to bring it! It’s time for big laughs and bigger tunes. KISS is where home is – this is your new breakfast show where the door is always open. It’s gonna be carnage!”

Chloe added: “I can’t believe I’m saying this – I’m joining KISS! While I know I’ve got big shoes to fill, stepping into the station that I’ve been a HUGE fan of growing up will feel like being launched into my dream job at 100 miles an hour.

“Being the newbie, I know that working alongside Tyler and a world-class team of producers will give me the perfect introduction. I’m more than ready to bring the laughs and every ounce of energy I’ve got for the KISS Breakfast listeners. I’m buzzing!”

As well as hosting the morning show on KISS, Chloe also recently attended Coachella in California, with the star posting smiling snaps with her best friend Millie Court on social media. They were also joined by Love Island: All Stars winner Samie Elishi, and Sophie Piper.

Sunday Brunch is available to stream on Channel 4, while KISS Breakfast airs weekdays from 6am

Dylan Sprouse sprang to action early Friday morning when he encountered a trespasser at his Hollywood Hills home.

Sources familiar with the incident told The Times that “The Suite Life of Zack & Cody” star tackled a man on the lawn near his home after his wife, Victoria’s Secret model Barbara Palvin, spotted “the creepy guy.” Palvin made an emergency call to police around 12:30 a.m. and reported a possible burglary.

TMZ, citing unnamed sources, reported that Sprouse had a gun and held the trespasser down until police arrived.

Police told The Times that the suspect was taken in on outstanding warrants and that no injuries were reported. Additionally, the suspect did not make it inside the couple’s 1920s Spanish-style home, only onto the property.

TMZ obtained footage of the arrest, which showed a suspect, whose face was blurred out, being handcuffed outside a police vehicle. A skateboard was leaned against the fence of the Disney alum’s property, and a “Private Property, No Trespassing” sign was posted on the gate.

Representatives for Sprouse and Palvin have not responded to The Times’ request for comment.

The couple met at a party in 2017 and by the fall of 2018, Palvin was gushing to Vogue that she was “very much in love.”

“I feel like I found the perfect guy,” she said of Sprouse. “He’s very kind and gentle.”

The couple tied the knot in the summer of 2023. In 2024, Palvin walked in the Victoria’s Secret Fashion Show and during a backstage interview said that Sprouse always has something up his sleeve to surprise her.

Outside the show, Sprouse revealed on the pink carpet that he had signs made with the faces of the couple’s fur babies, a French bulldog named Piggy Cow and a cat named Klaus Von Sprouse, to hold up while Palvin strutted the catwalk.

Avid Technology, the editing software company, is the latest entertainment industry player to introduce AI into its toolbox.

The company behind industry-standard platforms Pro Tools and Media Composer said it is entering a multiyear partnership with Google Cloud.

The goal is to implement both generative and agentic AI so that users can turn the “mostly manual process into an intelligent, AI-assisted experience,” Avid said in a statement Thursday morning.

“The primary bottleneck in Hollywood is manual labor [in editing] and managing thousands of hours of high-risk footage,” Avid Chief Executive Wellford Dillard told The Times. “This isn’t us just adding a new tool. It’s going from static files sitting on hard drives, to living data that understands its context.”

Google’s Gemini models and Vertex AI will be embedded directly into Avid’s processes, offering customers a chance to accelerate their editing time. Avid’s Media Composer, the editing system used on most professional film and TV productions, will now include a Gemini extension that could enhance metadata and generate B-Roll.

The company said that, overall, using AI on its platforms enables systems to understand the context of every file — allowing users to describe what they need based on visual movements, on-screen dialogue and emotional cues.

Dillard said that when someone uses Media Composer for editing, it can often be frustrating to click in and out of the application in search of the right shot buried within hours of footage. Now, he said, clients can describe the shot to AI, which could find it faster.

Anil Jain, global managing director at Google Cloud, said that these tools can do both simple functions like tweaking a scene’s background, or achieve more complex tasks, like creating promotional material.

“Most storytellers don’t get excited about putting together a promo, but if they could leverage AI to help do it a lot faster, then it becomes more interesting, gets it done and opens up the possibility of more creative time,” Jain said.

Avid, founded in 1987, is based in Burlington, Mass., and has since established itself as a pioneer in digital audio and video editing software. The company said its software was used to edit 87% of this year’s Oscar-winning productions, including the movies “K-Pop Demon Hunters” and “One Battle After Another.”

Avid is one of the many media companies that has recently incorporated AI into its services. In March, Netflix acquired Ben Affleck’s AI filmmaking company, Interpositive. Disney invested $1 billion into OpenAI’s now shuttered Sora platform. Even in the music industry, the “Big Three” labels have inked individual deals with AI startups like Udio, Klay and Suno — after suing a few of the same companies for copyright infringement.

Ramesh Srinivasan, a professor of information studies at UCLA, said these kinds of deals are the “new normal” and that “almost every single industry is being sort of eaten up by the Pac-Man of AI.”

But he said he’s not sure that this kind of AI will only be used for mechanical tasks.

“Editing is a task that involves creativity and human artisanship. An editor is not just someone who mechanically reproduces a number of steps. They have a sense of storytelling in mind,” said Srinivasan. “In terms of AI-created content, the initial research is showing that it is flattening creativity. It’s putting out the dominant patterns that it can copy, rather than reflect, the specific diverse and creative ways we can write, or edit.”

To Dillard, Avid’s CEO, incorporating AI is a way to ensure that creators can make enough content to keep up with audiences’ increasing demands.

“The demand for content is almost insatiable, and dollars are limited. This work can help compress those production timelines [and make] more content,” Dillard said. “Our hope is that we’re actually enabling the world, within the same budget constraints that the studios have today. You’re producing more content, and you are also opening the doors for smaller production houses to be able to produce more content competitively.”

CBS hasn’t given up on producing an original late-night show — despite easing Stephen Colbert out the door.

“The Late Show With Stephen Colbert” ends next month after CBS canceled the popular program, citing financial pressures. The network’s top two executives told reporters during a press briefing in Hollywood on Wednesday that the network still wants to be a player in the 11:35 p.m. hour.

CBS struck a one-year deal with media mogul Byron Allen to bring his “Comics Unleashed” syndicated show to the prominent time slot once occupied by David Letterman until Colbert took the mantle a decade ago. President Trump, in social media posts, has taken credit for getting Colbert, whom he dislikes, tossed off the air.

Colbert’s final broadcast will be May 21.

Beyond the stop-gap arrangement with Allen, network executives acknowledged they don’t have a long-term plan for the late-night hours — but development executives are working on it.

“We are still going to develop other ideas, other concepts,” said George Cheeks, whose role as chair of TV Media at Paramount includes running CBS. He added that Allen’s programs, including “Funny You Should Ask” at 12:35 a.m., will allow the company to immediately turn a small profit — an increasingly critical mandate as CBS prepares to absorb the high cost of keeping NFL football on its schedule.

“If we are going to go back into that space, we have to go back into that space with a different financial model,” Cheeks said, in contrast to a show set in a theater with a band, live audience and large group of writers and support staff to stage a nightly show with numerous guests.

“I grew up in late night — I believe in late night,” Cheeks said. “The reality is that the reach is still there, but the reach is primarily on YouTube.”

It’s become increasingly difficult for CBS or other major networks to make money on a topical show when the majority of the audience, particularly younger viewers, watch snippets on YouTube.

CBS Entertainment President Amy Reisenbach acknowledged the network wasn’t actively developing a replacement late-night show; instead the effort was in the brainstorming stage. “They’re just conversations at this point,” she said.

CBS can make money on “Comics Unleashed” because Allen pays CBS for the hours and covers production costs. In return, Allen’s company receives most of the commercial spots in the programs, which his company can sell to advertisers to defray its costs.

Cheeks dismissed concerns that Allen’s programs, which have been in syndication for years, would not be viewed as “CBS-level quality.” He called Allen “a great partner.”

“Comics Unleashed” has run at 12:35 a.m., but CBS is moving it one hour earlier on the schedule, where it will have more exposure and benefit from running immediately after TV stations’ local late news. “Funny You Should Ask” will air in the 12:35 a.m. time slot.

“I actually think the shows are strong. … They have a point of view,” Cheeks said of Allen’s programs. “It’s a change in format … a change from what people are used to.”

It’s been a rough year for CBS.

The last 12 months have included a nasty spat with Trump over a “60 Minutes” segment with Kamala Harris, which Paramount ended by paying the president $16 million. Then came the tempest over Colbert’s cancellation just days after he called the Trump settlement “a big fat bribe.”

The network got new owners — David Ellison and Skydance Media — in August and Ellison promptly installed a new boss at CBS News, Bari Weiss, who has made talent moves to shake up the division.

Six weeks ago, Paramount prevailed in the bidding war for Warner Bros. Discovery — a deal that will bring more turmoil to Paramount, CBS and Hollywood production.

Because of last year’s Paramount change in ownership, the NFL has the ability to reopen the network’s TV license deal, which is expected to increase the cost of retaining the NFL by as much as $1 billion a year, potentially cutting into CBS’ programming budget.

“Capital allocation is always a major consideration,” Cheeks said. “But I would harken back to something that David Ellison said recently, which was content investment was mission critical to the future of this company.”

CBS unveiled its new fall schedule Wednesday, announcing that fan-favorite LL Cool J was returning to star in a new show, “NCIS: New York,” with Scott Caan, and the introduction of a new legal drama, “Cupertino,” from hit-making executive producers Robert and Michelle King. CBS will serve up two other new shows, including a comedic drama, “Einstein,” and a half-hour vampire family comedy, “Eternally Yours.”

Cheeks also acknowledged that, for the first time in 18 years, CBS would not end the television season in first place in viewers. This year, that honor goes to NBC, which broadcast a blockbuster February with the Super Bowl and the Winter Olympics.