Talent agency Creative Artists Agency is reportedly in talks to sell a majority stake to Kering chairman and French billionaire François-Henri Pinault in a deal said to be worth around $7 million. Kering is the CEO of luxury goods conglomerate Kering, which owns fashion brands like Gucci, Bottega Veneta and more, and the president of its parent holding, Groupe Artémis.

What's the deal? CAA co-chairman Bryan Lourd was at Allen & Company's annual media finance gathering in Sun Valley, Idaho this week with Pinault, where they reportedly explored a deal for Pinault to purchase a controlling interest in CAA. Launched in 1975, CAA is now one of the largest talent agencies with clients spanning all areas of entertainment. It is currently owned by asset manager TPG, which acquired a 35% stake in 2010 and increased to 53% at a valuation of $1.1 billion.

In 2021, CAA acquired the agency ICM Partners in a $750 million deal, and the combined value for the newly-merged companies was estimated at around $5 billion.

What are they saying? Nothing, aside from a Kering spokesperson noting that the reported talks have not involved the company. Source say that talks are currently at an advanced stage but that a deal is not a sure thing, or how much said deal would be worth.