|Bid||N/A x N/A|
|Ask||N/A x N/A|
|Day's Range||N/A - N/A|
|52 Week Range||41.49 - 41.49|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul 30, 2018 - Aug 3, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Entertainment giant Endeavor is hoping to raise over $600 million in their for IPO, offering shares between $30-$32. The Ari Emanuel company is planning to list on the New York Stock Exchange under the ticker 'EDR.' Yahoo Finance's Adam Shapiro, Julie Hyman, Brian Sozzi and Dan Roberts discuss.
(Bloomberg) -- Ari Emanuel and Patrick Whitesell built their careers negotiating contracts for some of the world’s top celebrities. They’re about to ink one of their biggest deals yet -- this time for themselves.The duo and other senior executives have a combined interest in Endeavor Group Holdings Inc. that will be worth at least $1.5 billion if the company lists at the midpoint of its estimated price range. Emanuel and Whitesell are also in line to collect millions in salary and bonuses for years to come.An initial public offering would make Endeavor the biggest publicly traded Hollywood agency, cementing its rise from a four-person talent-management firm to a media giant. The Beverly Hills-based company, with $3.6 billion of revenue last year, runs sports leagues, hosts fashion events and represents clients including YouTube stars and pro athletes. Endeavor posted a $317 million profit for 2018 after four straight years of losses.The IPO could raise as much as $619 million and value the firm at about $7.6 billion, according to details disclosed Monday in a regulatory filing. The two agents and private equity firm Silver Lake Partners LP, which became an investor in 2012, will control the firm through a special class of shares.Read more: Endeavor debt means IPO not for ‘Faint of Heart’Emanuel, 58, founded Endeavor in 1995 with three colleagues from International Creative Management, one of Hollywood’s largest talent shops. Whitesell, 54, joined five years later. They have struck more than 20 deals in the past decade, including merging with the century-old William Morris Agency in 2009 and acquiring Ultimate Fighting Championship, the world’s biggest mixed martial arts promoter, for $4 billion in 2016, with backing from Silver Lake, KKR & Co. and Michael Dell’s investment firm.Representing talent such as tennis star Maria Sharapova and celebrity chef Bobby Flay now accounts for less than half of Endeavor’s revenue.“We saw an opportunity to use disruption to our benefit and build a company and a platform for where the world was headed,” Emanuel, who was the inspiration for foul-mouthed and mercurial agent Ari Gold on HBO’s “Entourage,” wrote in the registration statement for the IPO.Endeavor returned $400 million from Saudi Arabia’s investment fund after the government was linked with the killing of journalist Jamal Khashoggi.Emanuel and Whitesell’s combined stake is composed of multi-pronged equity interests that are convertible into Class A shares. Most of it is parked in several holding companies that they control. Endeavor didn’t provide details about other executives’ stakes that are also held within those entities.Death BenefitWhitesell and Emanuel each will receive an annual salary of $4 million -- among the highest for chief executive officers at companies in the Russell 3000 Index -- and a life insurance policy with a $4 million death benefit.Whitesell, the executive chairman, is also set to receive annual bonuses with a guaranteed payout of $2 million. Emanuel, the CEO, has a $6 million performance-based target bonus.Emanuel, the brother of former Chicago Mayor Rahm Emanuel, has strong incentives to grow the market value of both Endeavor and its UFC subsidiary. He’s eligible to receive as much as $28 million of stock when Endeavor’s valuation tops $7.53 billion. For the next decade, he’ll get additional payouts of equity, each worth as much as $14 million, if the market value of Endeavor or UFC exceeds certain thresholds.Two years ago, Endeavor repurchased $330 million of equity units from Emanuel and Whitesell.\--With assistance from Sophie Alexander.To contact the reporters on this story: Anders Melin in New York at email@example.com;Tom Maloney in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Pierre Paulden at email@example.com, ;Nick Turner at firstname.lastname@example.org, Peter EichenbaumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Endeavor Group Holdings Inc., led by talent agent turned media mogul Ariel Emanuel and backed by private equity firms, has set the price range for a U.S. initial public offering that could raise as much as $619 million.The Hollywood entertainment company plans to offer 19.35 million shares at $30 to $32 apiece, it said in a regulatory filing Monday.Emanuel started Endeavor in 1995 with three colleagues from International Creative Management, one of Hollywood’s largest talent shops. Up until a few years ago, his biggest deal was swallowing William Morris Agency, a larger and much older talent agency. Private equity firm Silver Lake Partners, is a major investor in the company.The offering is being led by Goldman Sachs Group Inc., KKR & Co., JPMorgan Chase & Co., Morgan Stanley and Deutsche Bank AG. Endeavor also added 18 more banks to the transaction, according to Monday’s filing. Barclays Plc, Citigroup Inc., Credit Suisse Group AG, RBC Capital Markets, UBS Group AG, Evercore Inc., Jefferies Financial Group Inc. and HSBC Holdings Plc are among underwriters that are joining the deal, the filing shows.Over the past few years, Emanuel and Patrick Whitesell have transformed Endeavor from a boutique talent agency into a multi-pronged media giant that runs sports leagues, hosts fashion events and represents leading athletes as well as entertainers. Endeavor’s clients include Dwayne Johnson, tennis star Maria Sharapova and celebrity chef Bobby Flay.Endeavor will have four classes of stock as part of the offering, including a high-vote class of shares that will be mostly owned by Emanuel, Whitesell and Silver Lake.Talent representation now accounts for less than half of its revenue. In 2016, Endeavor acquired Ultimate Fighting Championship, the world’s biggest mixed martial arts match promoter, for $4 billion.Endeavor applied to trade its shares on the New York Stock Exchange under the symbol EDR.To contact the reporter on this story: Crystal Tse in New York at email@example.comTo contact the editors responsible for this story: Ben Scent at firstname.lastname@example.org, Liana BakerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The UK’s Competition and Markets Authority back in February managed to get a handful of brands owned by Expedia Group and Booking Holdings to change how they displayed information to consumers searching for accommodation online. Essentially it was concerned about hate-selling through techniques such as hidden charges, and ordered them to sort it out. The […]
Amid the warnings of public disorder, food shortages, and transport delays in the event of a no-deal Brexit, data flow disruptions might seem like a trivial thing to worry about. But given the interconnectedness of the European online world, it is worth considering just what kind of impact this might have, especially on the travel […]
Like its fellow European online travel agency lastminute.com, eDreams Odigeo has been trying to diversify its revenue stream away from a reliance on flight-only sales. After all it’s a low-margin business and there’s only so far that can take you in today’s sophisticated consumer environment. EDreams’ big plan is its subscription service, called — somewhat […]