Saturday, August 8, 2020

UFC Parent Company Endeavor Officially Files to Go Public

The UFC's parent company at Endeavor has officially filed paperwork to take the company public with plans to trade on the New York Stock Exchange

Endeavor — the parent company to the UFC — has filed to go public on the New York Stock Exchange.

The company filed paperwork with Securities and Exchange Commission this week while offering an insight into their financial holdings and profitability for the first time ever.

In addition to owning the UFC, Endeavor is one of the most powerful talent agencies in Hollywood representing actors, directors, musicians, writers as well as Endeavor Content, which has sold numerous shows and films including ‘La La Land’ and ‘Killing Eve’.

According to the filing per the Hollywood Reporter, Endeavor generated $3.61 billion in revenue in 2018 and a net income of $231.3 million. After adjustments, the net income was $100.1 million and earnings before interest, taxes, depreciation and amortization was $551.1 million.

The filing also revealed that Endeavor CEO Ari Emanuel and executive chairman Patrick Whitesell each made $5 million last year with $1 million in salary and another $4 million in bonuses.

According to the report, Endeavor looks to raise approximately $500 million during the initial public offering (IPO) with the valuation of the company at more than $6 billion.

Endeavor will be traded under the EDR symbol on the New York Stock Exchange

“As the entertainment industry moves toward a closed ecosystem model with less transparency, our clients and business need more insight, resources and solutions than ever before,” Emanuel wrote in a letter than came along with the filing. “We believe being a public company will only further accelerate our ability to look around corners and open up new categories and opportunities for those in the Endeavor network.”

Just recently, UFC president Dana White was asked about Endeavor going public after rumors of the filing first surfaced.

While the UFC is just one of the companies under the Endeavor umbrella, the organization will definitely come under more public scrutiny than ever before with stockholders now able to indirectly own a piece of the mixed martial arts promotion.

“I’ve never been a fan of it,” White told ‘Game On’ in Las Vegas when asked about the UFC going public. “No, I’ve never been a fan of the UFC going public. Could you picture me running a public company?

“Let’s take some bets on how long I last in a public company. What’s the over/under on that one?”

As president of the UFC, White will soon become a major part of a publicly traded company with Endeavor taking that leap in the very near future.

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