All articles tagged with #endeavor group holdings
Japanese studio Toho has acquired a 25% stake in Fifth Season, the U.S.-based independent studio known for producing Apple TV+'s Severance and Max's Tokyo Vice, for $225 million. South Korean entertainment giant CJ ENM will retain majority ownership, while Toho becomes a strategic shareholder. The deal aims to create new opportunities for collaboration between CJ ENM, Fifth Season, and Toho, and expand Fifth Season's global presence.
Endeavor Group Holdings, led by CEO Ari Emanuel, is considering selling some of its assets as it undergoes a strategic review to maximize shareholder value. The sports and entertainment company, which owns IMG, Frieze, and WME, has seen its stock fall over 30% in the past six months. However, shares of Endeavor jumped over 11% in after-hours trading following the announcement. The review will not include the sale of its stake in TKO Group Holdings, the result of a merger between UFC and World Wrestling Entertainment.
Endeavor Group Holdings, led by CEO Ari Emanuel, has announced that it will explore strategic alternatives for the company, including a potential sale, due to the significant gap between its public market value and the value of its underlying assets. The news caused the company's stock to surge more than 10% in after-hours trading. This move comes shortly after French billionaire Francois-Henry Pinault purchased a majority stake in Endeavor's rival, Creative Artists Agency, for $7 billion. Endeavor's market value currently stands at $7.79 billion, having declined 21% this year.
Law firm Ademi LLP is investigating whether WWE's board of directors obtained a fair and reasonable price in the sale process to Endeavor Group Holdings. The investigation alleges that WWE's financial outlook and prospects are excellent, yet the transaction values WWE's shares at only approximately $106 per share. The merger would value WWE at $9.3 billion, with Endeavor shareholders owning 51% of the new company and WWE shareholders owning 49%. Vince McMahon would remain the executive chairman.
UFC and WWE will merge to form a new publicly traded company with Endeavor Group Holdings taking a 51% controlling interest. The new company will have an enterprise value of $21.4 billion and will be led by Endeavor CEO Ari Emanuel. The focus of the new company will be to maximize the value of combined media rights, enhance sponsorship monetization, develop new forms of content, and pursue strategic mergers and acquisitions. The deal is expected to close in the second half of the year, pending regulatory approval.