New Patrick Whitesell Venture Will Get $250 Million From Silver Lake As Part Of Taking Endeavor Private
deadline.comSilver Lake’s plan to take Endeavor private includes an investment of $250 million of seed equity “into a new business to be founded, managed and controlled” by executive chairman Patrick Whitesell.
The business will include “investing in and providing services to companies in the entertainment, media and sports industries; developing, producing, financing and exploiting film, television and digital audio visual content; talent management; and consulting with other entertainment companies,” according to an SEC filing today that include new contract details for Endeavor‘s top executives.
The filing, which had new employment letters for CEO Ari Emanuel and COO Mark Shapiro — who will be running Endeavor — indicated that Whitesell, while continuing to be a major shareholder and board member, will be branching out.
The document also refers a number of times to a private Endeavor exploring potential asset sales except for TKO Group and WME.
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