Endeavor Takes Outright Control of On Location and Endeavor China
variety.comPatrick Frater Asia Bureau ChiefEntertainment management and events firm Endeavor Group Holdings has bought outright control of the On Location sports event firm and its older Endeavor China business.
The two separate deals will cost Endeavor Group a total of $408 million.In a regulatory filing Thursday, Endeavor said that it will pay $224 million to buy out the minority shareholders in On Location, a firm that provides hospitality services to the NFL and the Super Bowl.
Endeavor previously bought a majority stake in the firm in January 2020. The new deal is to be paid for with the issue of new Endeavor shares.
The group is also issuing some $10 million of shares to On Location management and key employees.In the China deal, Endeavor is buying out the holdings of Sequoia Capital China, Tencent and affiliates of FountainVest Partners which had invested in WME IMG China when it was founded back in 2016.
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