WME owner Endeavor to go private again after three-year run as a public company

Wendy Lee, Los Angeles Times on

Published in Business News

On Oct. 25, Endeavor said it was exploring its strategic alternatives, suggesting that it was looking for buyers. The stock had dropped below $18 a share, significantly lower than the closing price of $25.20 on its opening day. Shortly after Endeavor made its announcement, Silver Lake disclosed its intention to take the firm private.

The deal for Silver Lake to acquire Endeavor, which is subject to regulatory approval, is expected to close in the first quarter of 2025, the companies said.

"The market was not fairly valuing Endeavor prior to Silver Lake announcing its intention to take the company private," wrote Brandon Ross, an analyst at LightShed Partners. "I would expect Silver Lake to further unlock value by selling off some non-core pieces in the Endeavor portfolio."

Egon Durban, co-CEO and managing partner of Silver Lake and chairman of the board of Endeavor, said in a statement that his belief in Endeavor's leaders "has never been stronger," noting that Endeavor has grown from $350 million in revenue in 2012 to nearly $6 billion in consolidated revenue today.

Silver Lake first invested in Endeavor back in 2012, when the agency business faced fewer challenges.


Endeavor posted a net loss of $29.3 million in the fourth quarter of 2023, compared with a net loss of $225.7 million during the same period a year earlier.

"Now, Endeavor can take advantage of its unique core platform to meet the dynamic forces driving growth in content, sports, and live events with bold vision," Durban said.

Endeavor stock closed at $25.79, up about 2%, on Tuesday.

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