Talent agency Paradigm is expanding its reach into Europe through a joint venture with the London-based CODA Music Agency, the companies said Tuesday.
The deal gives Paradigm a 50% stake in CODA, which represents 500 artists and DJs including Imagine Dragons, Bastille and the XX. CODA will continue to operate as a stand-alone company and keep its headquarters and management team, but additional financial details were not disclosed.
With this transaction, Paradigm can represent its roster of music artists — which include Aerosmith, Black Eyed Peas, Coldplay and Toby Keith — in European countries. In addition, CODA's clients will have easier access to Paradigm's representation in North America and South America.
This venture is similar to Paradigm's 50% acquisition of AM Only in 2012, which allowed Paradigm to tap into the growing electronic dance music business with stars such as Tiesto, Skrillex and David Guetta.
"This furthers our strategy of aligning with agencies around the globe that share our values and our commitment to the highest quality representation," Paradigm Chairman and Chief Executive Sam Gores said in a statement.
Paradigm employs 130 agents and has offices in Beverly Hills, New York, Nashville and Monterey, Calif.
Follow on Twitter: @rfaughnder
Copyright © 2015, Los Angeles Times