Creative Artists Agency (CAA) signed Miquela, a 19-year old Brazilian-American model, pop singer and social influencer. Unlike CAA’s other clients, however, Miquela is a virtual character, created by California-based tech startup Brud in 2016. She first appeared on Instagram where, as “Lil Miquela” she garnered 2.2 million followers. She also has almost 550,000 TikTok followers. CAA plans to work with Miquela on “TV, film, and brand strategy and commercial endorsements, raising the prospect of a movie or show featuring the character.” Continue reading Creative Artists Agency Signs Its First Virtual Influencer Client

Meredith purchased Time Inc. only eight months ago, but now has agreed to sell Time magazine to Salesforce co-founder/chair and co-chief executive Marc Benioff and his wife Lynne Benioff, for $190 million. The couple is buying the magazine as individuals, unrelated to Salesforce, and the deal is expected to close within 30 days. The Benioffs have said they will not play a role in the magazine’s day-to-day operations or its journalistic decisions. They also have no plans to purchase any other magazine titles from Meredith. Continue reading Salesforce Chair Marc Benioff Buys Time Magazine for $190M

Time Warner, named partly after a signature magazine, is getting out of the magazine business. On Wednesday, the company said it would spin off its entire Time Inc. magazine group, creating a separate public company. Moves like this aren’t entirely surprising considering the industry’s decline in newsstand sales and ongoing ad slump, which affects all publications but particularly weekly ones. Continue reading Time Warner Announces Spinoff of Entire Magazine Division