Shortly after 9 a.m., Hollywood time, I received a message via Signal: “CAA is buying ICM,” the source said. It’s the kind of deal, between two rival agencies, that would have sounded utterly implausible a decade ago but makes total sense now. A second source who texted, about 10 minutes later, explained why: “ICM had to give up. Was too small now.” Scale, after all, is the name of the game in Hollywood these days, and that goes for agencies, as well. “The bigger get bigger. The little can’t survive alone,” a veteran Hollywood executive texted after the deal was formally announced.

In recent weeks, Creative Artists Agency’s Bryan Lourd, Kevin Huvane, and Richard Lovett decided it was time to add muscle in the representation business; ICM’s Chris Silbermann got the exit he’s long been seeking (for an undisclosed price) and now, pending regulatory approval, Hollywood’s Big 4 will become Hollywood’s Big 3: WME, CAA, and UTA. The official line from CAA leadership is all about cooperation: “The strategic combination… bolsters our collective resources, expertise, and relationships to deliver even more opportunities for our world-class clients to build their careers and their brands across multiple disciplines and platforms in an evolving marketplace,” Lourd & Co. said in a statement.