IPG CEO On IMG Sale: 'We're Well Rep'd By Octagon'
While CAA, Wasserman, Lagardère and other upstarts have created a more fragmented sports agency landscape in recent years, two of the oldest rivals are Octagon and IMG. Now that the latter is officially on the block, could they join forces? Here's what the CEO of Octagon's parent company, IPG, had to say about that possibility last Friday in a Q&A with analysts...
Q (Daniel Salmon, BMO):
You always take a lot of pride in Interpublic's role in sports marketing in Octagon. Would you ever have any interest in any of the assets at IMG?
A (Michael Roth, CEO):
I think we are well represented by Octagon. They're doing a great job. They are certainly a force in the marketplace, and we're comfortable with the work that they're doing and their size.
No indication of interest, but not an outright denial either. Meanwhile, Variety reports that CAA is working with investment bankers on a possible bid. Here's a few other possibilities.
source: seekingalpha.com #agenciestag