Endeavor Group Holdings, the parent company of UFC, reported solid financial results and attendance records across their owned sports properties and marquee events. The CEO, Ari Emanuel, expressed excitement about the proposed combination of UFC and WWE.
Sale of IMG Academy
Endeavor has agreed to sell IMG Academy, a preparatory school and sports training facility, to a joint venture between William Morris Endeavor, Silver Lake, and MSD Capital for $1.2 billion. This move comes as Endeavor continues to focus on maximizing return for their shareholders.
Share Repurchase and Quarterly Dividend
Along with the sale of IMG Academy, Endeavor also announced a planned share repurchase and quarterly dividend. These moves are all part of the company’s commitment to maximizing return for shareholders.
Proposed Combination of UFC and WWE
Emanuel expressed excitement about the proposed combination of UFC and WWE, which would bring together two of the biggest names in sports entertainment. The potential combination is still in its early stages, but it presents a unique opportunity for both companies.
Focus on Durable Growth
Throughout the statement, Emanuel emphasized Endeavor’s focus on durable growth as they continue to execute their successful strategy in content and experiences. The company has set numerous financial and attendance records across their owned sports properties and marquee events, and they remain committed to delivering solid results for their shareholders.
In conclusion, Endeavor Group Holdings reported solid financial results and attendance records for the quarter, while also announcing the sale of IMG Academy, a planned share repurchase and quarterly dividend, and their excitement about the proposed combination of UFC and WWE. The company’s CEO, Ari Emanuel, emphasized their focus on durable growth as they continue to execute their successful strategy in content and experiences. With this latest announcement, Endeavor is showing their commitment to maximizing return for shareholders.
Frequently Asked Questions
What is Endeavor and what businesses does it own?Endeavor Group Holdings is a global entertainment, sports and content company, founded in 1995 by Ari Emanuel and Patrick Whitesell. The company owns several businesses, including Ultimate Fighting Championship (UFC), Professional Bull Riders (PBR), and the William Morris Endeavor (WME) talent agency.
What is the Endeavor dividend and how much will it be?The Endeavor dividend is a quarterly payment to shareholders of the Endeavor Operating Company. The first dividend is expected to be declared in Q3 and will be up to $25 million, which will be passed on to common shareholders, including Endeavor Group Holdings.
What deals has Endeavor recently made?Endeavor has recently made several deals, including the merger of UFC and WWE into a new Endeavor-controlled public company, and the sale of IMG Academy to a private equity firm for $1.25 billion.
What is Endeavor’s guidance for revenue and EBITDA for the year?Endeavor’s guidance for revenue and EBITDA for the year is between $5.665 billion and $5.815 billion, and $1.220 billion to $1.275 billion respectively. However, this is primarily due to the sale of IMG Academy.