Earlier this morning it was announced that WME outbid its rivals CVC Capital, Chernin Entertainment and a coalition of ICM Partners to acquire IMG Worldwide. IMG, once a rival agency and marketing firm, specializes in sports and entertainment. Ari Emanuel and Patrick Whitesell of WME will remain at the helm of the combined company. Although the terms of the deal have yet to be disclosed, what we do know is that Mubadala Development Company will be a minority investor in the deal. Some speculate that WME’s plan is to create a media conglomerate and eventually take the company public.
What do you think the future holds for WME?