Finke: Cash-Strapped CAA Is Fishing For Capital

Finke: Cash-Strapped CAA Is Fishing For Capital

Over-extended CAA is fishing for capital. I'm told the talent agency is putting on dog and pony shows for venture capitalists at its Century City mausoleum and asking whether they're interested in buying a piece of CAA for their very own. This is the direct result of the cash crunch at CAA I've been reporting for many months now. Now I understand why that Fortune magazine article went only a millimeter deep about problems at the agency; it clearly was a prospectus for CAA and should have been labeled as such. Only problem is, I doubt the inexperienced reporter even knew he was being played. Still, I'm amazed not only that CAA's partners have spent themselves into such a humiliating position as to need financial backers, but that they have the chutzpah to solicit the suckers within weeks of an inevitable strike.

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