Estate 5, the talent management company founded by Tina Chen Craig, Lynsey Eaton and Suzanne Droese, has been acquired.
Parker Management, a fellow creator agency purchased last year by Propagate Content, has snapped up Estate 5 for an undisclosed sum. As a part of the deal, Estate 5’s team will transition into Parker’s, as will its roster of talent.
“Their roster is quite similar to ours,” said Lindsay Nead, founder of Parker Management, of the deal. “They’re a bit more fashion creator-heavy, which is great, because we have a bit more lifestyle. So it’s very complementary, but with a small team, which is important.”
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Among Estate 5’s roster are Brittany Sjogren, Becky Hillyard, Kathleen Post, Christine Andrew, Ashley Stark, Barron and Tessa Hilton and Leelee Keller, whom a joint statement referred to as some of content monetization platform LTK’s top earners.
Nead said maintaining the boutique feel across Parker Management was key to its success and continued differentiation. “We have one of the lowest manager-to-talent ratios in the industry, and so we turn a lot of talent away,” she said, pointing to the acquisition as one of her easiest means of scaling. “We felt like we could put more resources toward fashion and beauty.”
It also deepens Propagate’s foothold in the digital sphere. “This acquisition strengthens Propagate’s position in the creator economy and demonstrates our continued commitment to representing the most influential voices across platforms,” said chairman and co-chief executive officer Ben Silverman in a statement. Propagate’s portfolio encompasses creators, actors, writers and influencers across several talent agencies it owns.
