Creative Artists Agency could soon have a major billionaire backer, with Bloomberg News reporting Friday that Francois-Henri Pinault was in advanced talks with the group. Citing sources, the report said the agency could garner $7 billion from the deal, though sources said the talks may end without such an agreement. Creative Artists Agency, which also has Pinault’s wife Salma Hayek on its books, is backed by private equity firm TPG. Reports of the discussions have emerged as Hollywood actors have joined writers on the picket line to protest contracts that aren’t keeping up with inflation and the encroachment of artificial intelligence on their livelihoods. Pinault’s family is the largest shareholder in luxury goods group Kering
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A representative from TPG declined to comment. MarketWatch has reached out to other parties involved.
