Endeavor Swings To Q3 Loss On Sports Marketing Investment, Endeavor Content Stake; UFC Revenue, Profits Jump
deadline.comEndeavor swung to the red last quarter with a $12.5-million loss stemming not from its core businesses but a minority investment in struggling college sports marketing film Learfield, and its remaining 20% interest in Endeavor Content.
Endeavor sold the bulk of Endeavor Content back in January to Korea’s CJ ENM, keeping 20% of scripted business, the non-scripted portion and some documentary and film sales and financing consulting services.
The company run by CEO Ari Emanuel posted a $63 million profit in the year-earlier quarter. Learfield IMG College is a big collegiate sports marketing film with Endeavor and Silver Lake among its investors.
The total impairments, for $84.5 million net of tax, included write-downs, and resulted in an EPS loss of 4 cents a share vs a positive 16 cents the year before.
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