Endeavor estimates that its initial public offering will value up to $ 712 million, the first batch of Class A common shares available to the public, according to a statement filed Monday with the Securities and Exchange Commission (SEC).
They reached this number by multiplying more than 22 million registered shares by $ 32 each. This represents the high end for which Endeavor expects its shares to sell. The low end is $ 30.
However, it is likely that Endeavor will * only * release * shares of more than 19 million shares at the time of its initial public offering, told TheWrap a person familiar with the plan. . At $ 30 per share, it would bring in just under $ 581 million. At $ 32, this figure climbs to over $ 619 million.
Endeavor is listed to trade its shares on the New York Stock Exchange under the symbol EDR.
The "Approximate Start Date of the Proposed Sale to the Public" is indicated as "as soon as possible" after the registration statement of today's S-1 "comes into force". Monday's deposit was the fourth amendment to Endeavor's S-1.
Read also: Endeavor hires ex-Ebay executive member, Guy Schory, as chief digital technology manager
Endeavor's IPO was originally scheduled for this summer. The acquisition by On Location Experiences LLC of the live event company cost up to $ 700 million.
Endeavor is the combination of sport, events, fashion and IMG talent management and the WME agency. WME bought IMG in 2014 for $ 2.3 billion.
WME itself was the combination of the legendary William Morris Agency and Endeavor.
The new Endeavor bought the UFC in 2016. He also owns Miss Universe and the Professional Bull Riders tour. In 2017, Endeavor launched Endeavor Content, which is funded and / or sold to more than 100 movies and television shows in the years that followed.
Technology giants and billionaires who bought traditional media, from Marc Benioff to Jeff Bezos (Photos)
While the leaders and heavyweights of Silicon Valley have become richer and more influential, a recent trend has been to see these same people engaging in the media field, often with no experience in the media or publishing. Their thick notebooks have, in some cases, recovered titans from the distressed media and, in other cases, have further complicated their fate. Their ownership has also raised editorial issues and concerns about how these news agencies should cover the actions of their new owners and their flagship technology companies.
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Marc Benioff – Time Magazine
On September 16, Salesforce founder and co-CEO Marc Benioff and his wife Lynne Benioff purchased Time Magazine from Meredith Corporation for $ 190 million in cash. Meredith acquired $ 2.8 billion from Time Inc. earlier this year, but announced shortly thereafter its plans to sell Time, Sports Illustrated, Fortune and Money. Benioff is estimated at $ 6.5 billion.
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Laurene Powell Jobs – The Atlantic
In July 2018, Steve Jobs' widow, Laurene Powell Jobs, took a majority stake in The Atlantic under the leadership of the Emerson collective of Powell Jobs. Powell Jobs killed plans to launch a new magazine headed by Leon Wieseltier after charges of sexual misconduct were brought against the former editor of The New Republic. But in February 2018, the Atlantic announced a new hiring of 100 new jobs, half of which were editorial hires.
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Chris Hughes – The new republic
Chris Hughes, a former Facebook executive, bought The New Republic in 2012, announcing important changes in the magazine to turn it into a "vertically integrated digital media company." The changes have led to a quit of major editors and complaints from his former owner that the magazine was now unrecognizable by abandoning its "liberal tradition". The magazine even briefly suspended the publication as a result of all these upheavals. But in 2016, Hughes sold The New Republic to Win McCormack, claiming that he had "angry" and underestimated the challenges.
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Pierre Omidyar – The interception
The founder of eBay, Pierre Omidyar, announced in 2013 that he was the sponsor of the Glenn Greenwald site, The Intercept. He is also the founder of the First Look Media Media Organization, established in 2013. However, in 2014, just eight months after his arrival at First Look Media, Matt Taibbi, a former Rolling Stone reporter, left the company. , causing a wave of other departures of journalists early 2015.
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Dr. Patrick Soon-Shiong – The Los Angeles Times
Dr. Patrick Soon-Shiong, billionaire in biotechnology and America's richest doctor, bought $ 500 million from the Los Angeles Times in June 2018, double the price paid by Jeff Bezos for the Washington Post. Soon-Shiong had already invested in the Times' parent company, Trunk, based in Chicago, but had established the newspaper's headquarters in Los Angeles for the first time since 2000. However, he later transferred the newspaper's headquarters to El Segundo.
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Benioff, Salesforce CEO, bought Meredith Corporation's Time magazine on Monday
While the leaders and heavyweights of Silicon Valley have become richer and more influential, a recent trend has been to see these same people engaging in the media field, often with no experience in the media or publishing. Their thick notebooks have, in some cases, recovered titans from the distressed media and, in other cases, have further complicated their fate. Their ownership has also raised editorial issues and concerns about how these news agencies should cover the actions of their new owners and their flagship technology companies.
