Cynthia Littleton Business Editor Endeavor‘s fourth-quarter results reflected the company’s growth in sports through the acquisition of WWE last September, but its bottom line was hit by nearly $30 million in legal and restructuring costs and $47 million in write-offs from its Events, Experiences and Rights division.
Last year Endeavor also paid out $101 million in advisory fees and bonuses related to the WWE merger with Endeavor’s UFC as well as the sale of its IMG Academy business.
CEO Ari Emanuel faces questions about Endeavor’s long-term strategic plan and fate as a public entity — but on the Q4 earnings call, he and CFO Jason Lublin declined to take questions from Wall Street analysts, with the company citing its ongoing “strategic review.” In October, less than three years after Endeavor went public in April 2021, Emanuel initiated a strategic review of its assets to consider options for the future.
At the same time, Endeavor’s longtime private equity partner, Silver Lake, has vowed to field a proposal that would take Endeavor private again.
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