Endeavor CEO Ari Emanuel ruled out any major stock deal right how and indicated reluctance to increase debt, both at a time when the UFC’s main rival, WWE, is up for sale. “Here’s what I would say to you, I don’t talk about M&A,” he told a Morgan Stanley investor conference when asked about a potential acquisition of Word Wrestling Entertainment.
Owner Vince McMahon is currently overseeing a strategic restructuring of WWE including a potential sale. “We have taken the company from eight times levered to below four,” he said of Endeavor. “I am sleeping, because of that, four hours to eight hours.
I’d sleep a lot more if I got it lower… We are going to take it a lot lower this year.” Deleveraging “is very high on the list” of priorities.
Leverage is a ratio of debt to assets. Emanuel also said definitively that, “Right now, we’re not going to use our equity for a transaction.” “As relates to the WWE, I think it’s an incredible asset.
Read more on deadline.com
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