Silver Lake's WME to Buy IMG from Fortsmann Little
December 19, 2013
William Morris Endeavor Entertainment, a Silver Lake portfolio company, has agreed to buy IMG Worldwide from Forstmann Little & Co. for a reported $2.3 billion. IMG is a global sports, fashion and media business that's involved in an average of 11 sports and entertainment events every day. The acquisition will boost WME's presence in the professional athlete representation market, which the company has focused on less compared to its presence in Hollywood and the music business.