UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 8.01 | Other Events. |
On January 19, 2022, Endeavor Group Holdings, Inc., a Delaware corporation (“Endeavor”), issued a press release announcing the closing of its previously announced sale of an 80% stake of the scripted business of Endeavor Content, its U.S.-based global content studio business to CJ ENM, a leading entertainment company from Korea, for approximately $785 million USD in total proceeds to Endeavor and Endeavor Content. A copy of the press release is attached as Exhibit 99.1 hereto and incorporated by reference herein.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit |
Description | |
| 99.1 | Press Release, dated January 19, 2022 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ENDEAVOR GROUP HOLDINGS, INC. | ||
| By: | /s/ Jason Lublin | |
| Name: | Jason Lublin | |
| Title: | Chief Financial Officer | |
Date: January 19, 2022
Exhibit 99.1
Endeavor Completes Sale of Controlling Stake in Global Premium Content Studio ‘Endeavor Content’ to CJ ENM
Beverly Hills, CA (January 19, 2022) – Endeavor Group Holdings, Inc. (NYSE: EDR), a global sports and entertainment company, announced today it has closed its previously announced sale of an 80% stake of the scripted business of U.S.-based global premium content studio, Endeavor Content, to CJ ENM, a leading entertainment company from Korea, for approximately $785 million USD in total proceeds to Endeavor and Endeavor Content.
Endeavor has retained 20% of the scripted portion of Endeavor Content, and has retained the non-scripted portion of the business, as well as certain documentary and film sales and financing consulting services. Endeavor Content’s Graham Taylor and Chris Rice will continue to lead the studio as co-CEOs.
About Endeavor
Endeavor is a global sports and entertainment company, home to many of the world’s most dynamic and engaging storytellers, brands, live events and experiences. The company is comprised of industry leaders including entertainment agency WME; sports, fashion, events and media company IMG; and premier mixed martial arts organization UFC. The Endeavor network specializes in talent representation, sports operations & advisory, event & experiences management, media production & distribution, experiential marketing and brand licensing.
Press
Matt Levine
endeavor@brunswickgroup.com
Document and Entity Information |
Jan. 19, 2022 |
|---|---|
| Cover [Abstract] | |
| Amendment Flag | false |
| Entity Central Index Key | 0001766363 |
| Document Type | 8-K |
| Document Period End Date | Jan. 19, 2022 |
| Entity Registrant Name | Endeavor Group Holdings, Inc. |
| Entity Incorporation State Country Code | DE |
| Entity File Number | 001-40373 |
| Entity Tax Identification Number | 83-3340169 |
| Entity Address, Address Line One | 9601 Wilshire Boulevard |
| Entity Address, Address Line Two | 3rd Floor |
| Entity Address, City or Town | Beverly Hills |
| Entity Address, State or Province | CA |
| Entity Address, Postal Zip Code | 90210 |
| City Area Code | (310) |
| Local Phone Number | 285-9000 |
| Written Communications | false |
| Soliciting Material | false |
| Pre Commencement Tender Offer | false |
| Pre Commencement Issuer Tender Offer | false |
| Security 12b Title | Class A Common Stock, $0.00001 par value per share |
| Trading Symbol | EDR |
| Security Exchange Name | NYSE |
| Entity Emerging Growth Company | false |
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