Talent Agency, Production Company Endeavor Files For IPO

Talent Agency, Production Company Endeavor Files For IPO

Hollywood’s largest talent agency, Endeavor Group, is going public.

The company, led by Ari Emanuel, filed for an initial public offering Thursday. It said in its Securities and Exchange Commission filing that it intends to raise at least $100 million, but several observers said that was likely a placeholder, with some speculating the company could raise more than $500 million.

Why It’s Important

Endeavor, while best known for representing talent in show business and sports, has become a broad entertainment enterprise. It owns the Miss Universe pageant — which it bought from Donald Trump in 2015 — and the mixed martial arts league Ultimate Fighting Championship.

The company reported $231 million in profits on $2.6 billion in revenue for 2018. In the first quarter of 2019, Endeavor reported a $152-million net loss on about $1 billion in revenue. Beverly Hills, California-based Endeavor said it has a debt load of about $4.6 billion.

The filing said Endeavor was most recently valued at about $6 billion.

NYSE Listing

Endeavor plans to trade on the New York Stock Exchange under the ticker EDR. Goldman Sachs, KKR, JPMorgan, Morgan Stanley and Deutsche Bank are jointly handling the IPO.  

Ari Emanuel Is Ari Gold

Emanuel is the brother of Rahm Emanuel, the former Chicago mayor and White House chief of staff, and was the model for the Ari Gold character in HBO’s “Entourage.”

Related Links: 

The Market Was Hungry For Beyond Meat's IPO

Aurora Cannabis Partners With UFC To Advance CBD Research, Product Development

Posted In: Ari EmanuelufcUltimate Fighting ChampionshipNewsIPOs