Cassie Wasserman, the grandson of legendary talent mogul Lou Wasserman, is in talks to acquire the music assets of the Cassie Wasserman paradigm agency, which was severely damaged by the coronavirus lockdown.
Sources said the talks have happened again, again and there is a good chance that no deal will ever succeed. The deadline for the talks did not pass until Wednesday evening. Wasserman, chairman and CEO of Media Group, is said to have met Tom Gores, CEO of Platinum Equity, the brother of Sam Gores, the founder and CEO of Paradise.
The activities of Paradigm abruptly shut down the live music and event business ott agency In recent years music booking agencies and artist management boutiques have been involved in a number of acquisitions, leaving it with considerable debt in service. The sudden demise of the Turing business plunged the company into a financial turmoil that forced more than 100 layoffs and other cuts in March.
No representative for Paradigm was immediately available for comment. A spokesman for Wasserman declined to comment. News of the discussion was first published by the Hits Daily Double.
More to come