Endeavor to explore ‘strategic alternatives,’ stake in WWE unaffected
Endeavor to explore ‘strategic alternatives,’ stake in WWE unaffected in todays Wrestling news
Endeavor to explore ‘strategic alternatives,’ stake in WWE unaffected
Endeavor Group Holdings could be positioning itself for a sale.
Company CEO Ari Emanuel was quoted in an Endeavor press release on Wednesday announcing the initiation of a formal review to evaluate strategic alternatives for the company.
“Given the continued dislocation between Endeavor’s public market value and the intrinsic value of Endeavor’s underlying assets, we believe an evaluation of strategic alternatives is a prudent approach to ensure we are maximizing value for our shareholders,” Emanuel said.
The strategic alternatives could potentially include the company being sold. However, today’s press release specifically mentioned Endeavor will not consider selling its interest in TKO Group Holdings, the company created via the WWE and UFC merger earlier this year. Endeavor holds a 51% stake in the company.
“As part of this review of strategic alternatives, the Company will not consider the sale or disposition of the Company’s interest in TKO Group Holdings, Inc.”
“Endeavor has not set a deadline or definitive timetable for the completion of the strategic alternatives review process, and there can be no assurance that this process will result in any particular outcome. The Company does not intend to comment further regarding the review of strategic alternatives until it determines disclosure is necessary or advisable.”
Brandon Thurston posted an email sent to Endeavor staff regarding the news.
The email reads:
Today, Endeavor announced that it has begun a formal review of strategic alternatives. No other company has a global portfolio like Endeavor — across sports, entertainment, fashion, live events, and premium experiences. Still, Endeavor believes there is a disconnect between its public market value and the intrinsic value of its underlying assets. Given that, Endeavor has decided to evaluate strategic alternatives to ensure it is maximizing value for EDR shareholders. As part of this review, Endeavor will not consider the sales or disposition of its interest in TKO. Endeavor has not set a deadline or definitive timetable for the completion of the process and there’s no guarantee of any specific outcome. We do not anticipate any changes to your day-to-day, and we will share more information when the need arises.
The news comes shortly after billionaire Francois-Henri Pinault announced he was purchasing a majority stake in rival Hollywood talent agency, CAA.
Endeavor to explore ‘strategic alternatives,’ stake in WWE unaffected in todays Wrestling news, Chatalong Chatbox, Results will be Hidden inside a spoiler Button so you will not bet spoiled about direct results.