Paradigm Parent Acquires BEST Rep Businesses, Forms Paradigm Media Entertainment – Deadline

Paradigm Entertainment said Wednesday that it has acquired BEST, a group of three management and marketing companies focused in the worlds of broadcast news, culinary and on-air media personalities. The new acquisitions will be housed in the newly created arm Paradigm Media Entertainment, which is majority owned by Paradigm Entertainment, which also has a majority interest in Paradigm Talent Agency. Those two lines of business will now work together to service clients’ entertainment, publishing, brand partnership, and news-media services needs.

No other terms of the deal were announced.

The deal for the trio of companies — Napoli Management Group, Two Twelve Management & Marketing and 3 Kings Entertainment — was struck with BEST owner private-equity firm Blue Equity. Paradigm Media Entertainment’s entertainment, broadcasting and marketing businesses will be headed by Napoli Management Group’s Mendes J. Napoli, Two Twelve’s Scott Feldman and 3 Kings’ Matthew Kingsley. Paradigm Entertainment and Paradigm Talent Agency founder and executive chairman Sam Gores will continue to be a shareholder. Jonathan S. Blue and Edward H. Harrison III of Blue Equity will remain on as advisors.

The acquisition and formation of Paradigm Media Entertainment marks the latest move from Paradigm, which has been solidifying its footing after the Covid pandemic rocked its businesses. During the early months of the crisis it first furloughed and then later laid off 180 employees, while shoring up resources via an investment from Crescent Drive Media, an investment company run by agency founder Sam Gores’ billionaire brother Tom Gores. In March 2021, Paradigm sold off its lucrative live music business — first in North America and later in the UK — to Casey Wasserman.

This past May, Paradigm moved its offices from its swanky Beverly Hills headquarters to West Hollywood’s Pacific Design Center and shifted to a hybrid work model for employees.

The new deal however boosts the company’s representation business significantly. Napoli Management Group is one of the largest broadcast news talent representation companies, repping more than 550 news anchors, reporters, weathercasters and sportscasters nationwide. 3 Kings reps hundreds of on-air media talent across all of TV. Two Twelve, meanwhile, reps more than 75 celebrity chefs and culinary stars including the likes of Tom Colicchio, Tyler Florence and Anne Burrell.

The newly formed Paradigm Media Entertainment will operate from offices in Los Angeles and New York.

Read More: Paradigm Parent Acquires BEST Rep Businesses, Forms Paradigm Media Entertainment – Deadline

2022-09-07 11:00:00

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