Creative Artists Agency said Tuesday that it will sell a majority stake in production company Wiip to a South Korean studio. The Century City talent agency did not disclose financial terms of the deal, which limits CAA’s involvement in production. WGA had also reached an agreement with talent agency WME for its parent company, Endeavor, to reduce its majority stake in production company Endeavor Content. Under WGA’s agreement with CAA, CAA and its investor TPG could not own more than 20% of Wiip. AdvertisementCAA and JTBC Studios did not immediately respond to requests for comment.

Source: Los Angeles Times June 01, 2021 18:45 UTC