Endeavor Group Holdings, the umbrella company that owns WWE and UFC, have announced that they have been bought by Silver Lake. Silver Lake is a a global technology investment firm.
The change in ownership means that Endeavor is no longer a publicly traded company on the Stock Exchange any longer.
“The now privately held Endeavor Group Holdings, Inc. retains its controlling ownership stake in TKO Group Holdings, Inc., one of the largest publicly traded sports and entertainment companies, fueled by businesses including UFC and WWE. Silver Lake believes that when consolidating all of TKO’s value into Endeavor, the combined total enterprise value of $25 billion at $27.50 per share makes this the largest private equity sponsor public-to-private investment transaction in over a decade, and the largest ever in the media and entertainment sector,” stated Endeavor in a statement.
The portfolio of Endeavor Group Holdings, Inc. will now be called WME Group. WME Group comprises category leaders focused on representing talent, intellectual property, and brands, including:
WME: the preeminent talent agency.
160over90: the award-winning global marketing agency.
IMG Licensing: The global leader in brand licensing, managing licensing programs.
Pantheon Media Group: the Emmy Award-winning production company.
Egon Durban, Co-CEO and Managing Partner of Silver Lake, said: “This remarkable moment—and the even more exciting future it launches—is thanks first and foremost to Ari Emanuel and Patrick Whitesell, and to the relentless and ambitious strategic vision they have shared for more than twenty years to build Endeavor into a global powerhouse across talent, brands, and IP spanning entertainment, media, and sports. Silver Lake is proud and honored to be their partners since 2012 as they have continued to build the company. Over this period, revenue has grown by twentyfold. Silver Lake has previously invested on six separate occasions to support Endeavor and now, with this latest investment, it is the single largest position in our global portfolio.”
Durban continued: “Silver Lake has never sold a share, instead increasing our stake as we remain highly excited about the long-term growth outlook for the company. Mark Shapiro is an impressive, hard charging, creative, and determined leader who is driving and orchestrating massive value creation. We look forward to continuing our work and partnership with him and the rest of the management team—including Richard Weitz and Christian Muirhead at WME Group and Dana White, Andrew Schleimer, and the collective TKO leadership—all of whom are industry best. We are grateful for all of the clients and partners these businesses are laser focused on serving, as well as for the anchor investors who have joined us in this transaction.”
Mark Shapiro, now President and Managing Partner, WME Group, said: “Our ability to deliver landmark partnerships, career-defining business opportunities, and enduring cultural moments is amplified by this transaction and the formation of WME Group. The Silver Lake team has proven time and again that they are all-in on representation and content, and our clients, partners, and employees will thrive under our new structure.”
Ariel Emanuel, now Executive Chairman of WME Group, said: “I am grateful to Egon and the team at Silver Lake for the trust they have placed in me as a founder and entrepreneur. Together, we have created and enhanced a foundation unlike any other to accelerate value creation for clients and partners across WME Group and TKO, which I am excited to continue to build and grow.”
Patrick Whitesell will become the CEO and Founder of a new platform in partnership with Silver Lake to invest in and scale properties and IP across sports, media, and entertainment.
Whitesell said: “Everything we built at Endeavor would not have been possible without the partnership of Egon and the entire Silver Lake team. Our industry is in the very early stages of generational transformation. I have never seen a more promising time for bold and ambitious entrepreneurs, creatives, and athletes.”
Durban concluded: “Silver Lake is enormously pleased and energized to partner and invest with Patrick in support of his new platform.”
