Sports Talent Agency Wasserman Acquires The Montag Group

Terms of the deal between the two closely held companies, which has been completed, weren’t disclosed. The Montag Group brand will remain, and Mr. Montag and his staff will join Wasserman.

The acquisition comes as traditional Hollywood agencies like Creative Artists Agency and Endeavor Group Holdings Inc.’s WME have made inroads in the sports industry, amplifying competition for athletes and media personalities.

Consolidation and deal making in the industry has been rampant, with CAA recently agreeing to acquire rival agency ICM Partners.

“There’s been consolidation in the industry the last couple of years, but I don’t think too much about competition,” Mr. Montag said. “Wasserman was the only company we really considered for something like this.”

Jason Ranne, Wasserman’s chief operating officer of talent representation, said the deal was a natural move “as clients complete their careers and look for post-career opportunities from broadcasting to front-office work as a natural transition.”

Mr. Ranne said that he and Mr. Wasserman—who is the grandson of the late pioneering Hollywood mogul Lew Wasserman—had been interested in The Montag Group for years.

In addition to many pro athletes across various sports, Wasserman also counts Olympic competitors as clients, including gold-medal-winning U.S. swimmer Katie Ledecky. Mr. Wasserman, who founded the firm in 2002, is also the head of the Los Angeles 2028 Olympic Organizing Committee.

Mr. Montag said he was 22 years old when he started working with Mr. Madden. He worked at the talent agency IMG throughout much of his career, before launching his own firm in 2014.

The Montag Group’s list of well-known sportscasters includes Ian Eagle, Tracy Wolfson, Dan Shulman and Dick Vitale.

Mr. Madden, who had a 50-year career that included working as a Hall of Fame National Football League coach, broadcaster and the face of videogame “Madden NFL Football” died on Dec. 28 at age 85.

“He taught me everything I know in the business,” Mr. Montag said, adding that he considered Mr. Madden a second father. “John was very old school, and I’m still very old school. Yes, we have technology and iPhones, but I’m a big believer in getting out and meeting people and going to games. If anything, he taught me the power of relationships.”

“He’s been the foundation of what I’ve done and the foundation of the Montag Group, and he’ll continue to inspire us to do the right thing,” Mr. Montag said.

Write to Lillian Rizzo at Lillian.Rizzo@wsj.com