Endeavor Group Holdings Inc - EDR STOCK NEWS

Endeavor and Harvard University have announced the launch of Versity, a platform that brings together Harvard professors and celebrities to create interactive learning experiences. Versity courses focus on developing 'power skills' relevant to the workplace, aiming to deliver personal growth for employees and accelerated leaders for employers. The platform will be available for purchase by organizations in May, with a full launch in June. Courses at launch include Tech Ethics, Purpose and Perspective, and How to Bring the Real You to Work.

Endeavor Group Holdings (NYSE: EDR) has entered into an agreement to sell its subsidiary IMG Academy for $1.25 billion to BPEA EQT, a global private equity firm, in partnership with Nord Anglia Education. The deal is expected to close in Q3 2023 and will enhance IMG Academy's international growth and educational offerings. Founded in 1978, IMG Academy has become a leader in sports education, supporting over 100,000 student-athletes. With partnerships with prestigious institutions like MIT and The Juilliard School, it offers a unique blend of athletics and academics. Brent Richard will remain as President post-transaction, ensuring continuity and stability.

Endeavor Group Holdings (NYSE: EDR) will announce its Q1 2023 financial results on May 9, 2023, post-market. A teleconference for discussing the results and providing a business update is scheduled for 2 PM PT / 5 PM ET on the same day. The earnings release and teleconference will be accessible via Endeavor’s Investor Relations site, with a recording available for 30 days post-event. Investors are encouraged to submit questions ahead of the call.

Endeavor is a prominent global player in sports and entertainment, encompassing brands such as UFC, WME, and IMG. The company focuses on a range of services, including talent representation, media production, and event management.

Endeavor Group and WWE announced a definitive agreement to form a new publicly listed company, with Endeavor owning 51% and WWE shareholders 49%. This new entity will include UFC at an enterprise value of $12.1 billion and WWE at $9.3 billion. The combined revenue for UFC and WWE reached $2.4 billion in 2022, with a 10% annual growth rate since 2019. The merger is expected to yield $50 million to $100 million in annual cost synergies. The transaction is anticipated to close in the second half of 2023.

Endeavor Group Holdings (NYSE: EDR) reported impressive financial results for the fiscal year and Q4 2022. Full year revenue reached $5.268 billion, with net income of $321.7 million and adjusted EBITDA of $1.164 billion. The UFC achieved 21 consecutive sellouts, while the Events, Experiences & Rights segment saw revenue grow 21% year-over-year. The company made $500 million in discretionary debt payments, improving net leverage. Looking ahead, Endeavor projects 2023 revenue of $5.825 billion to $5.975 billion, marking a 12% expected growth at midpoint, and adjusted EBITDA between $1.250 billion to $1.305 billion.

Endeavor Group Holdings (NYSE: EDR) announced that CEO Ariel Emanuel will participate in a fireside chat at the Morgan Stanley Technology, Media & Telecom Conference on March 8, 2023, at 1:30 p.m. PT (4:30 p.m. ET). A live link and a 30-day replay will be available on Endeavor's investor relations website. Endeavor is a global sports and entertainment company, comprising various industry leaders, including WME, IMG, and UFC. The company focuses on talent representation, sports operations, media production, and brand licensing.

Endeavor Group Holdings (NYSE: EDR) will announce its fourth quarter and full year 2022 financial results on February 28, 2023, after market hours. A teleconference to discuss the results is set for 2 p.m. PT / 5 p.m. ET on the same day. Investors can access the earnings release and call via Endeavor's Investor Relations site. A recording will be available shortly after the call and for at least 30 days. Endeavor operates globally in sports and entertainment, representing renowned entities such as WME, IMG, and UFC, focusing on talent representation and media production.

Endeavor Group Holdings (NYSE: EDR) announced that CFO Jason Lublin will participate in a virtual fireside chat at the Jefferies Winter Summit on January 21, 2023, at 8 a.m. ET. The session will be accessible via a link in the News / Events section of Endeavor's investor relations website, allowing for a 30-day replay. Endeavor is a global leader in sports and entertainment, featuring prominent brands and organizations like WME, IMG, and UFC.

Endeavor Group Holdings (NYSE: EDR) reported Q3 2022 revenue of $1.221 billion, demonstrating resilience amid economic challenges. The company raised its full-year Adjusted EBITDA guidance to a range of $1.145 billion to $1.175 billion, indicating a 32% year-over-year growth. The quarter saw a net loss of $12.5 million and a 24.8% Adjusted EBITDA margin. Key growth drivers included a 39% revenue increase in Owned Sports Properties, despite a 42% decline in the Representation segment due to prior year sales. Total debt decreased to $5.427 billion.