William Morris, which is backed by Silver Lake, is currently finalising negotiations and could announce the sale as soon as today, said Reuters, citing a person familiar with the matter. It was previously reported that the company could sell for more than $2bn.
Private equity firm CVC Capital Partners and a consortium that included private equity firm Carlyle and talent agency ICM were also finalists in the auction, people familiar with the matter told Reuters.
KKR has also shown interest in IMG, but dropped out of the bidding process last month.
Forstmann Little hired Morgan Stanley and Evercore Partners in May to advise on the potential sale.
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