Endeavor’s envy could become contagious

Endeavor group

07/11/2023 16:13

(The author is a Reuters Breakingviews columnist. The opinions
expressed are her own.)
    By Jennifer Saba
       NEW YORK, Nov 7 (Reuters Breakingviews) - The $12 bln
talent agency and WWE owner led by Hollywood mogul Ari Emanuel
is eyeing options after billionaire François-Henri Pinault paid
a rich price for peer CAA. Silver Lake, with 71% of the vote,
wants to take it private. A stingy bid risks making minority
investors jealous.
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    CONTEXT NEWS 
Endeavor, which runs Hollywood talent agencies and owns a
controlling stake in wrestling and mixed martial arts company
TKO, said on Oct. 25 that it had initiated a review to evaluate
strategic alternatives.
    Private equity firm Silver Lake, which holds 71% of
Endeavor’s voting power, said the same day that it is working on
a proposal to take the company private and is not interested in
selling its Endeavor shares or “entertaining bids for assets.”  
 

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Graphic: Hollywood firm Endeavor's rocky path since its IPO    https://tmsnrt.rs/3FOtkUk
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 (Editing by Jeffrey Goldfarb, Aditya Sriwatsav and Sharon Lam)
 ((For previous columns by the author, Reuters customers can
click on  SABA/ 
jennifer.saba@thomsonreuters.com; Reuters Messaging:
jennifer.saba.thomsonreuters.com@reuters.net))