(Yicai Global) April 18 -- CMC Capital Partners, a culture investment fund in China, has become a shareholder of Creative Artists Agency, which Fortune called "a near monopoly of A-list actors, writers, and directors." CMC Chairman Li Ruigang will be on CAA's board.
CMC Capital Partners said in a press release on April 18 that it will work on a joint venture with CAA, 'CAA China,' for new strategic planning. The new firm will further develop brokerage business for Chinese and American artists, and expand business in film, television, site entertainment, sports, and activity marketing using CAA's existing operations in the country.
CAA was established in 1975 and is headquartered in Los Angeles. The firm is well known for its innovativeness in entertainment brokerage and is recognized as a global industry leader. CAA was among the first brokerage companies to engage in sports, games, media copyright distribution, investment banking, brand marketing, and venture capitalism.