Endeavor Completes Sale of Controlling Stake in Global Premium Content Studio ‘Endeavor Content’ to CJ ENM

Rhea-AI Summary

Endeavor Group Holdings, Inc. (NYSE: EDR) has successfully closed the sale of an 80% stake in its scripted business, Endeavor Content, to South Korea's CJ ENM for approximately $785 million USD. Endeavor retains a 20% interest in the scripted segment and holds onto the non-scripted business, along with some consulting services. The leadership of Endeavor Content remains intact with Graham Taylor and Chris Rice continuing as co-CEOs.

Positive

• Sale of 80% stake in Endeavor Content generates approximately $785 million USD for Endeavor.
• Endeavor retains 20% interest in scripted business and control over non-scripted operations.

Negative

• None.

BEVERLY HILLS, Calif.--(BUSINESS WIRE)-- Endeavor Group Holdings, Inc. (NYSE: EDR), a global sports and entertainment company, announced today it has closed its previously announced sale of an 80% stake of the scripted business of U.S.-based global premium content studio, Endeavor Content, to CJ ENM, a leading entertainment company from Korea, for approximately $785 million USD in total proceeds to Endeavor and Endeavor Content.

Endeavor has retained 20% of the scripted portion of Endeavor Content, and has retained the non-scripted portion of the business, as well as certain documentary and film sales and financing consulting services. Endeavor Content’s Graham Taylor and Chris Rice will continue to lead the studio as co-CEOs.

About Endeavor

Endeavor is a global sports and entertainment company, home to many of the world’s most dynamic and engaging storytellers, brands, live events and experiences. The company is comprised of industry leaders including entertainment agency WME; sports, fashion, events and media company IMG; and premier mixed martial arts organization UFC. The Endeavor network specializes in talent representation, sports operations & advisory, event & experiences management, media production & distribution, experiential marketing and brand licensing.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220118006304/en/

Matt Levine

endeavor@brunswickgroup.com

Source: Endeavor Group Holdings

FAQ

What was the value of Endeavor's stake sale in Endeavor Content?

Endeavor's sale of an 80% stake in Endeavor Content was valued at approximately $785 million USD.

Who acquired the 80% stake in Endeavor Content?

The 80% stake in Endeavor Content was acquired by CJ ENM, a leading entertainment company from Korea.

What percentage of Endeavor Content does Endeavor Group Holdings retain?

Endeavor Group Holdings retains a 20% interest in the scripted portion of Endeavor Content.

Who will lead Endeavor Content after the sale?

Graham Taylor and Chris Rice will continue to lead Endeavor Content as co-CEOs.

What type of content does Endeavor retain after the sale?

Endeavor retains the non-scripted portion of Endeavor Content, along with certain documentary and film sales and financing consulting services.