Endeavor Group Holdings, Inc. - EDR STOCK NEWS

Endeavor (NYSE: EDR) has launched Diamond Baseball Holdings, aimed at enhancing the sport of baseball through professional management and investment. The organization plans to acquire nine MLB Professional Development League (PDL) Clubs, subject to customary closing conditions. Initial Clubs include affiliations with the Chicago Cubs, St. Louis Cardinals, New York Yankees, and San Francisco Giants. Endeavor is also in late-stage negotiations with additional franchises. Industry leaders Pat Battle and Peter B. Freund will oversee the new organization, targeting growth and community engagement.

IMG has entered into an agreement to acquire the Mutua Madrid Open tennis tournament and the Acciona Open de España golf tournament from Super Slam Ltd. The deal is anticipated to close in early 2022, pending ATP/WTA and regulatory approvals. The acquisition enhances IMG's portfolio of significant tennis events, including the Miami Open, positioning it as a leader in global sports events. MTP's CEO, Gerard Tsobanian, will join IMG as Senior Vice President, overseeing operations of the Madrid Open.

Endeavor Group Holdings, Inc. (NYSE: EDR) will have CFO Jason Lublin join a virtual fireside chat at the Barclays Global Technology, Media and Telecommunications Conference on December 8, 2021, at 12:05 p.m. ET. A live session link and a 30-day replay will be available on Endeavor's investor relations website in the 'News / Events' section. Endeavor is recognized as a leader in global sports and entertainment, comprising WME, IMG, and UFC, focusing on talent representation, media production, and experiential marketing.

Endeavor Group Holdings (NYSE: EDR) announced that CEO Ariel Emanuel will engage in a virtual fireside chat at the UBS Global TMT Conference on Monday, December 6, 2021, at 11 a.m. ET. The session will be accessible live, with a replay available for 30 days via Endeavor's investor relations website. Endeavor is a leading global sports and entertainment company, encompassing notable entities such as WME, IMG, and UFC, focusing on talent representation, event management, and media production.

CJ ENM has announced a definitive agreement to acquire an 80% stake in Endeavor Content from Endeavor Group Holdings for $775 million, marking a significant move towards becoming a global total entertainment company. The deal, valued at an enterprise valuation of $850 million, includes $655 million to Endeavor and $120 million to bolster Endeavor Content's balance sheet. This strategic acquisition aims to enhance CJ ENM's global market presence and expand its original IP collection, supporting the launch of its OTT platform, TVING.

Endeavor Group Holdings (EDR) reported strong Q3 2021 results with a revenue of $1.4 billion and net income of $63.6 million. The company raised its 2021 revenue guidance to between $4.89 and $4.95 billion, and adjusted EBITDA guidance to $835-$845 million. Notably, representation revenue surged to $664.7 million, driven by increased agency commissions and project deliveries. However, owned sports properties revenue decreased due to a prior contract termination fee. Endeavor announced its intent to acquire OpenBet, enhancing its IMG ARENA business.

Endeavor Group Holdings (NYSE: EDR) will release its Q3 2021 results on November 15, 2021, after market hours. A teleconference to discuss the results will take place at 1:30 p.m. PT / 4:30 p.m. ET on the same day. Investors can access the earnings release and live call via the company’s IR site, with a recording available for 30 days post-event. For inquiries, investors are encouraged to submit questions in advance to investor@endeavorco.com.

Endeavor Group Holdings (NYSE: EDR) has announced its acquisition of OpenBet, a prominent sports betting content and platform provider, from Scientific Games Corporation (NASDAQ: SGMS) for $1.2 billion. The deal comprises $1 billion in cash and $200 million in Endeavor Class A common stock, aiming to enhance Endeavor’s offerings in the rapidly growing sports betting industry. The transaction is poised to close in Q2 2022, pending regulatory approvals, and is expected to create a comprehensive solution for sportsbook operators worldwide.

Scientific Games Corporation (SGMS) has entered a definitive agreement to sell its Sports Betting business, OpenBet, to Endeavor Group Holdings (EDR) for $1.2 billion. The deal involves $1 billion in cash and $200 million in Endeavor Class A stock. The transaction is set to close in Q2 2022, pending regulatory approval. OpenBet is a leading sports betting technology provider, serving over 75 global customers. This sale aims to optimize Scientific Games' portfolio and enhance financial flexibility for future investments in key growth areas.