A Bristol-based team of lawyers has advised on a transatlantic music industry deal involving talent agencies representing artists such as Billie Eilish and Drake.
Staff at law firm Clarke Willmott’s office in the city advised US entertainment giant Wasserman Music LLC on its acquisition of a controlling stake in the UK live music division of competitor Paradigm.
The deal, completed for an undisclosed sum, expands Wasserman’s global client roster and its European footprint, and follows its purchase of Paradigm’s North American live music division last year.
Paradigm UK’s London-based partners Dave Hallybone, Alex Hardee, Tom Schroeder and James Whiting founded what was the CODA Agency in 2002.
It later partnered with Paradigm in 2014 before fully coming under the Paradigm name five years later. The business now employs 24 agents and a total of 72 staff.
As part of the new deal, its four founders have joined the Wasserman Music managing executive team.
Paradigm will continue its collaboration with Wasserman Music through the shared representation of music clients in film, television, theatre and publishing.
Prior to the deal Wasserman Music represented artists such as Bon Iver, Mark Ronson, Rita Ora, Take That and Sean Paul in North America, while Paradigm UK represented them outside of the territory.
Now that Paradigm UK is under Wasserman Music control, its new owner effectively represents these artists around the world.
Clarke Willmott represented Wasserman in the UK during the transaction, working closely with Wasserman’s US representation, McGuire Woods. Venable represented the sellers in the US, with Osborne Clarke acting as UK counsel.
Bristol-based corporate partner Rob Ridd led on the deal for Clarke Willmott alongside Tim Copplestone, an employment lawyer in the firm, supported by Cormac Hayes and a full team of other specialist lawyers.
Mr Ridd said: “This was not only a high-profile deal but international and involving multiple stakeholders, with consequent negotiating and logistical challenges to overcome.
“We are pleased to have assisted Wasserman in another major transaction. This deal creates a truly global live music organisation, representing some of the leading stars in the business, and we look forward to seeing the expanded group go from strength to strength.”
Casey Wasserman, the chairman and chief executive of Wasserman Media Group, said: “I am incredibly proud to reunite Alex, Dave, James, Tom and their team with the full force of our Wasserman Music group.
“They not only persevered through a once in a lifetime pandemic, but prioritised their clients and partnerships in a way that is consistent with our values and commitment to talent. With this group now under one banner, we now have a truly scalable and serviceable global music practice and look forward to strengthening our platform together.”
Clarke Willmott is a national law firm with another South West office in Taunton, Somerset, as well as Birmingham, Cardiff, London, Manchester and Southampton.
In February the firm announced plans to relocate its 300-strong workforce in Bristol to a new head office on the top two floors of Assembly C - a new 11-storey Grade A office being developed in the city centre, close to the historic harbourside.
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