Endeavor has a number of pressing issues, including a stock price still down nearly 11% since its 2021 initial public offering, an actor’s strike that is having a major impact on Hollywood operations, and renewed consideration of going private. .
However, the company’s sports assets remain prominent on its balance sheet.
In its third-quarter financial results released Wednesday, Endeavor reported that its sports real estate division, which includes TKO Group Holdings, the parent company of WWE and UFC, and a majority stake in Pro Bull Riders, had sales of 19.3 billion yen. % increase to $479.7 million. Endeavor’s Sports Data and Technology division, led by IMG Arena and Openbet, saw revenue increase 167.2% to $78.1 million.
These numbers outpaced Endeavor’s overall revenue, which rose 10% to $1.34 billion, and its net loss widened from $12.5 million to $116 million.
Endeavor CEO Ari Emanuel did not provide additional details about the potential privatization, but the privatization sent Endeavor shares rising last month on hopes of a deal. However, he reported that although quarterly sales rose 32% to $449.1 million, net income fell to $22 million from $129.7 million in the same period last year. I supported TKO’s progress.
“In just the first frame of their integration efforts, WWE and UFC have set records for live events, announced international expansion plans, increased media rights fees, and confirmed significant new global partnerships.” said Emmanuel.
Do more TV trading
Less than two months after WWE signed a five-year, $1.4 billion rights deal with NBC for the U.S. rights to SmackDown, the professional wrestling organization has signed another big TV deal.
The latest move was a five-year deal with the CW Network to show WWE’s developing circuit, WWE NXT. The latest deal is reportedly worth a 70% jump in rights fees compared to the previous deal with USA Network, and is now worth nearly $25 million annually.
For The CW, this deal is in addition to previous rights agreements with the Atlantic Coast Conference, NASCAR, LIV Golf and “Inside the NFL.”