Endeavor grew revenue 25% last quarter to $1.58 billion, beating forecasts, and shrunk losses to $29 million from $226 million as CEO Ari Emanuel reminded Wall Street that it’s still looking at strategic options – four months after the company said it was evaluating its businesses, and its largest shareholder Silver Lake floated the idea of taking the company private.
The giant fund said then it was working towards making proposal but no offer has yet emerged. Endeavor started a formal review of its assets and has said only that it would not consider a sale or disposition of its stake in TKO Group, the publicly traded parent of WWE and UFC – implying that it might consider a sale or disposition of its other assets.
Execs will likely be asked about that on a post-earnings call at 8 am ET. Adjusted fourth-quarter EBIDTA, another gauge of profitability, was $293 billion, The company noted a few financial hits for the quartersincluded $29 million in legal and regulatory costs (from $4.8 million the year before).
Of that, $20 million was to settle an antitrust settlement filed against WWE by MLW (Major League Wrestling) Media, alleging that WWE interfered with MLW’s contractual relationship with certain media platforms and engaged in other anticompetitive and unfair business practices in violation of the Sherman Antitrust Act and California law.
Read more on deadline.com
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