Endeavor Posts Q1 Loss and Burns Through Cash as It Awaits Silver Lake Acquisition
variety.comCynthia Littleton Business Editor Endeavor delivered a loss for the first three months of the year as the parent company of UFC, WWE, WME and IMG burned through nearly $400 million in cash during the first quarter.
The company released its Q1 2024 earnings report Thursday, which is likely to be one of its last as a public company as Endeavor awaits the completion of its deal to be bought out at $27.50 per share in cash by private-equity firm Silver Lake.
That deal is expected to close by the end of the first quarter of 2025. The parent company that controls publicly traded sports firm TKO Group Holdings, which houses UFC and WWE, took a hit from the $335 million charge that TKO recorded to reflect its legal settlement in a long-running antitrust case with former UFC fighters.
That charge, plus revenue declines for the quarter in Endeavor’s events, experiences and rights and its sports data divisions, took a toll on Q1 earnings.
Read more on variety.com