CAA Bids for Licensor Learfield

TPG Capital, which owns a majority stake in CAA, is a final bidder for the collegiate sports licensing group Learfield Communications, according to The Hollywood Reporter.

TPG has made an offer of $1.2 billion and if successful, the deal would put TPG, and CAA, in direct competition with WME/IMG.

Learfield sells the media and marketing rights for 120 college programs including the University of Alabama, Penn State, the University of Oklahoma and Texas A&M as well as conferences like the Big Ten.