Endeavor Announces Review of Strategic Alternatives
25 Ottobre 2023 - 10:00PM
Business Wire
Endeavor Group Holdings, Inc. (NYSE: EDR) (“Endeavor” or the
“Company”), a global sports and entertainment company, today
announced the initiation of a formal review to evaluate strategic
alternatives for the Company.
As part of this review of strategic alternatives, the Company
will not consider the sale or disposition of the Company’s interest
in TKO Group Holdings, Inc.
“Given the continued dislocation between Endeavor’s public
market value and the intrinsic value of Endeavor’s underlying
assets, we believe an evaluation of strategic alternatives is a
prudent approach to ensure we are maximizing value for our
shareholders,” said Ariel Emanuel, CEO of Endeavor.
Endeavor has not set a deadline or definitive timetable for the
completion of the strategic alternatives review process, and there
can be no assurance that this process will result in any particular
outcome. The Company does not intend to comment further regarding
the review of strategic alternatives until it determines disclosure
is necessary or advisable.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Endeavor intends such forward-looking statements to be
covered by the safe harbor provisions for forward-looking
statements contained in Section 27A of the Securities Act of 1933,
as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended. All statements in this press release that do not relate
to matters of historical fact should be considered forward-looking
statements, including statements regarding the planned strategic
review. The words “believe,” “may,” “will,” “estimate,”
“potential,” “continue,” “anticipate,” “intend,” “expect,” “could,”
“would,” “project,” “plan,” “target,” and similar expressions are
intended to identify forward-looking statements, though not all
forward-looking statements use these words or expressions. These
forward-looking statements are based on management’s current
expectations. These statements are neither promises nor guarantees
and involve known and unknown risks, uncertainties and other
important factors that may cause actual results, performance or
achievements to be materially different from what is expressed or
implied by the forward-looking statements, including, but not
limited to those factors discussed in Part I, Item 1A “Risk
Factors” in Endeavor’s Annual Report on Form 10-K for the fiscal
year ended December 31, 2022, as any such factors may be updated
from time to time in the Company’s other filings with the SEC,
including without limitation, the Company’s Quarterly Report on
Form 10-Q for the quarterly period ended June 30, 2023, accessible
on the SEC’s website at www.sec.gov and Endeavor’s Investor
Relations site at investor.endeavorco.com. Forward-looking
statements speak only as of the date they are made and, except as
may be required under applicable law, Endeavor undertakes no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or
otherwise.
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 Endeavor network specializes in
talent representation through entertainment agency WME; sports
operations and advisory, event management, media production and
distribution, and brand licensing through IMG; live event
experiences and hospitality through On Location; full-service
marketing through global cultural marketing agency 160over90; and
sports data and technology through IMG ARENA and OpenBet. Endeavor
is also the majority owner of TKO Group Holdings (NYSE: TKO), a
premium sports and entertainment company comprising UFC and
WWE.
Website Disclosure
Investors and others should note that Endeavor announces
material financial and operational information to its investors
using press releases, SEC filings and public conference calls and
webcasts, as well as its Investor Relations site at
investor.endeavorco.com. Endeavor may also use its website as a
distribution channel of material Company information. In addition,
you may automatically receive email alerts and other information
about Endeavor when you enroll your email address by visiting the
“Investor Email Alerts” option under the Resources tab on
investor.endeavorco.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231025139958/en/
Investors: James Marsh / investor@endeavorco.com Press: Maura
McGreevy / press@endeavorco.com, Brunswick Group /
Endeavor@brunswickgroup.com
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