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...US buyout firm Silver Lake has agreed to buy Endeavor for $27.5 a share in cash for the owner of the WME talent group and IMG, the global sports marketing company....
...Hollywood entertainment group Endeavor and its private equity partner Silver Lake, which have controlled Learfield since 2018, will become minority partners under the restructuring terms....
...The price is a 55 per cent premium to where Endeavor’s stock was trading in late October, when the sports and entertainment business led by Ari Emanuel said it was exploring strategic alternatives....
...They certainly should after the entertainment group announced a long-expected go-private sale to its existing majority shareholders this week. The deal values Endeavor’s equity at $13bn....
...It now operates mobile sports betting in 22 states and online gaming in five. Its US business delivered its first full year of profitability last year....
...The ecommerce group’s deal comes as part of a restructuring for Diamond Sports Group, which is aiming to leave bankruptcy protection; its collapse sparked a media rights crisis that spooked US sport....
...Even before Ticketmaster’s 2010 merger with concert promoter Live Nation, concert goers and sports fans complained about the platform’s high processing fees, surcharges and failure to crack down on ticket...
...US private equity group Apollo Global is in discussions with Sony Pictures Entertainment about making a joint takeover bid for Paramount Global that would rival ongoing talks between controlling shareholder...
...Liberty, which is chaired by telecoms and entertainment billionaire John Malone, is poised to agree the takeover of Dorna Sports after seeing off a rival bid from TKO, the sports and entertainment group...
...; and Dana Walden, co-chair of Disney Entertainment....
...for the entertainment group are “superior”....
...As a provider of unique content around the world TKO should be able to withstand the ongoing seismic shifts in media and entertainment....
...However, a weak margin and some unfavourable sports results meant the company’s cash profit forecasts are likely to undershoot by £50mn....
...“We have FanDuel, and we want to make sure that our customers are able to buy shares in the company that owns their favourite entertainment provider,” chief executive Peter Jackson told the Financial Times...
...Inter Miami, which is backed by investment group Ares Management and co-owned by construction billionaire Jorge Mas and his brother Jose, has emerged as a symbol of the convergence of sports, entertainment...
...Video game maker Tencent and Lululemon founder Chip Wilson were also part of the acquiring group....
...Silver Lake on Tuesday said it has agreed to pay $27.50 per share in cash, a 55 per cent premium to where Endeavor’s stock was trading in late October when the sports and entertainment business said it was...
...The belated IPO pitch highlighted Endeavor’s growing dominance in multiple areas of media and entertainment: global sports, live events and talent representation....
...and entertainment company that it also owns....
...European football needs more matches with drama and competitive tension to keep fans interested and attract new audiences to the sport, according to the chief of the US investment group that has backed top...
...Netflix has agreed a $5bn deal to screen World Wrestling Entertainment’s flagship Raw programme in the US over the next decade, in the group’s biggest foray so far into streaming live events....
...Flutter’s US business FanDuel has a 43 per cent gross revenue share of the sports-betting market in the country, rivalling fantasy sports and online gambling giant DraftKings....
...Kroes, who co-founded agency Sports Entertainment Group, only started as Ajax chief executive in the middle of last month....
...The UK-based group is hoping that sports will be a key differentiator in the fight — not just against other broadcasters but also against the large US tech giants — to be the primary entertainment subscription...
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