All articles tagged with #endeavor
TKO Holdings and Endeavor are set to acquire a significant number of shares from Vince McMahon, with a combined transaction value of approximately $293 million. This follows McMahon's recent sale of nearly $100 million worth of shares. The implications of these moves for McMahon's future remain uncertain, leaving observers intrigued as to what lies ahead for the wrestling mogul.
Vince McMahon has sold $311 million worth of TKO shares back to the company and Endeavor, bringing his total earnings from stock sales to about $1.5 billion. This comes after his resignation from the board of TKO Group in January 2024 amidst sexual assault and sex trafficking allegations, which he has strongly denied. Meanwhile, WWE's WrestleMania 40 marked the highest-selling single night in WWE history with in-person attendance of 72,755, and Stephanie McMahon made a surprise appearance at the event. Endeavor, which recently announced a deal to go private with private-equity firm Silver Lake, is not including TKO Group in the transaction and it will remain a publicly traded company.
Vince McMahon, former WWE executive, is selling $311.2 million worth of TKO stock to the company and Endeavor, further distancing himself from the sports entertainment firm. This move comes after McMahon's exit from the company in January and follows TKO's acquisition of WWE. The stock repurchase plan will increase Endeavor's ownership stake in TKO, while Triple H has been given creative control and Dwayne "The Rock" Johnson has joined as a board member.
TKO and Endeavor are set to purchase shares from former WWE chairman Vince McMahon, with Endeavor buying 1,642,970 shares for $146.2 million and TKO buying an additional 1,853,724 for about $165 million, totaling approximately $293 million. After the transactions close, Vince will have 8,021,405 remaining TKO shares, reducing his ownership to about 4.7% of TKO.
Patrick Whitesell, executive chairman of Endeavor, is set to launch a new media company with $250 million in seed money from Silver Lake, as part of his new employment agreement. The media company will focus on investing in and providing services to entertainment, media, and sports industries, as well as developing and producing content, talent management, and consulting. Whitesell will continue to serve on the Endeavor board and play a central role in the company's new private structure, following Silver Lake's take-private offer.
Silver Lake is investing $250 million in a new media venture led by Patrick Whitesell, executive chairman of WME parent company Endeavor, as part of a deal to take Endeavor private. Whitesell's new business will focus on investing in entertainment, media, and sports companies, producing content, talent management, and consulting. The agreement also includes details about executive appointments, equity awards, and compensation terms for Whitesell, Ari Emanuel, and Mark Shapiro, as well as breakup and termination fees in case of deal failure.
Silver Lake plans to invest $250 million in a new business venture led by Patrick Whitesell as part of the privatization of Endeavor, with the equity value of the acquisition pegged at $13 billion. The new venture will focus on entertainment, media, and sports industries, and both Whitesell and Ari Emanuel will receive a private plane as part of the deal. The privatization also includes new contract details for top executives and potential asset sales, with Emanuel set to receive a $25 million bonus and quarterly royalty payments from WME.
Endeavor, the talent agency that owns the UFC, is being acquired by private equity firm Silver Lake to go private after being publicly traded for three years. Silver Lake, already a major shareholder, will acquire 100% of the outstanding shares for $27.50 per share in cash. The deal does not affect TKO Group Holdings, the merged company with UFC and WWE, which remains publicly traded. The combined value of Endeavor and TKO is estimated at $25 billion, and the transaction is expected to close in the first quarter of 2025.
Private-equity firm Silver Lake has agreed to acquire Endeavor, a sports, entertainment, and talent management company, in a deal valuing Endeavor at $13 billion. The acquisition, expected to close in the first quarter of 2025, will give Endeavor an equity value of $13 billion and represents a 55% premium to the unaffected share price. The deal excludes TKO Group Holdings, formed by the merger of WWE and Endeavor-owned UFC, which will remain a publicly traded company. Upon completion of the transaction, Endeavor’s common stock will no longer be listed on any public market.
After three years as a publicly traded company, entertainment and sports giant Endeavor, led by Ari Emanuel, is going private in a deal with majority shareholder Silver Lake at a valuation of $13 billion. The move follows a period of speculation about the company's value and comes after the spinoff of its mixed martial arts league UFC. Silver Lake, which initially invested in Endeavor in 2012, sees the transaction as an opportunity to capitalize on growth in content, sports, and live events.
Private equity firm Silver Lake is acquiring entertainment company Endeavor Group Holdings for $27.50 a share, with the transaction expected to close by the end of the first quarter of 2025. The acquisition, valued at $13 billion, will see Silver Lake acquiring 100% of the shares it does not already own, allowing Endeavor to continue investing in growth opportunities as a private company. Endeavor, known for talent representation and live events, has undergone strategic shifts in recent years, including acquiring OpenBet and selling IMG Academy. The company will retain its majority ownership of TKO Group Holdings, which owns the UFC and WWE, as part of the deal.
TKO Group Holdings, the parent company of the UFC, has agreed to pay $335 million to settle a lawsuit filed by fighters nearly a decade ago, just before a trial was scheduled to start. The fighters had claimed that the UFC violated the Sherman Antitrust Act by abusing its monopoly power to limit their pay. The settlement will be paid in installments over an agreed-upon period of time and is subject to judicial approval. This comes as TKO, which is 51% owned by Endeavor, faces legal challenges unrelated to the UFC suits, including a bombshell lawsuit against former WWE executive chairman Vince McMahon and a class-action suit alleging a "sham sales process" in the merger of the UFC and WWE.
Vince McMahon, who resigned from his role as executive chairman of TKO Group Holdings in January, is selling off over $400 million worth of stock in the company, following a previous sale of $700 million worth of stock in November. This move comes after McMahon left the company due to a lawsuit filed against him by a former WWE employee. Endeavor, the parent company to TKO Group Holdings, acquired WWE and maintains a 51-percent controlling interest over the company. McMahon's latest stock sale raises questions about the future ownership of the company.
A lawsuit against Vince McMahon and WWE has led to his resignation and potential repercussions for employees close to him, with reports suggesting that Endeavor, the majority owners of TKO, may clean house to start fresh. McMahon's return to the company in 2023 saw some employees depart and return, but this time, he cannot force his way back in as he is no longer the majority shareholder. This marks the first time since 1953 that a McMahon is not involved in professional wrestling, with neither of Vince McMahon's children currently involved in the company.
Investors have filed a lawsuit alleging that WWE board members favored a merger with Endeavor's UFC to allow Vince McMahon to stay on as executive chairman of TKO Group, ignoring more lucrative offers. The lawsuit claims that the board concocted a "sham sales process" to exclude other bidders seeking to remove McMahon, disregarding at least two all-cash offers with better terms. McMahon's return to WWE in January was followed by a review of strategic options, and investors claim he immediately turned to his former agent, Ari Emanuel, for a merger deal that would allow him to remain in control. The lawsuit seeks to represent all stockholders who cashed out their shares in the merger.