Liberty Media Corp. is looking to invest in Creative Artists Agency, the entertainment and sports group that manages a range of celebrities and athletes, London's Financial Times reported Jan. 10, citing people briefed on the discussions.

The company is already in talks with the Los Angeles-based agency, but it is unclear whether they involve an acquisition of all of CAA or a significant investment. Liberty Media has history with CAA, having hired the agency to sell its Formula One sponsorship rights after Liberty Media purchased the motorsport in 2017.

Private equity firm TPG Capital Advisors LLC holds an over 60% stake in CAA, but it has not been involved in the discussions between the agency and Liberty Media, one of the sources reportedly said, while two others cautioned that there was no guarantee of a deal being struck by the two sides.