Paradigm Gets Investment From Tom Gores As Wasserman Talks Continue

Paradigm talent agency has "secured a new investment from Crescent Drive Media," a company owned by Pistons Owner TOM GORES, who is also the brother of Paradigm Chair & CEO SAM GORES, according to Cynthia Littleton of VARIETY. The moves come as Paradigm is "grappling with a cash flow crunch exacerbated by the coronavirus crisis." Sam Gores also "continues to discuss a transaction involving the agency’s music assets with sports agent and entrepreneur CASEY WASSERMAN." Sam Gores "confirmed the investment from Crescent Drive," which is owned by Tom Gores, who "already has a stake in the agency." Financial details were "not disclosed." Wasserman is "understood to be discussing a form of a partnership with the Gores brothers that would allow him to manage Paradigm’s music talent management and tour booking operations, which are considerable" (VARIETY.com, 6/5).