Private equity owns talent agencies that function as vertically integrated shadow studios

Evidence

Hollywood’s two most powerful talent agencies are of particular concern in this chapter, and I argue that their new owners, the private equity firms TPG and Silver Lake, have created “shadow studios,” vertically integrating financing, investment, production, distribution, talent, and data. — Andrew deWaard, Derivative Media, 51

Categorization

• DEFINE: Introduces the ‘shadow studio’ concept as vertical integration under private equity ownership.