Patrick Whitesell to Launch Media Company With $250 Million Investment From Silver Lake as Part of Endeavor Deal
variety.comTodd Spangler NY Digital Editor Patrick Whitesell, executive chairman of WME parent Endeavor, is launching a new media company backed by Silver Lake as part of the private-equity firm’s deal to take Endeavor private.
Silver Lake will invest $250 million of seed equity into a new business to be founded, managed and controlled by Whitesell, according to an Endeavor SEC filing Wednesday.
The agreement comes under Silver Lake’s deal to buy out Endeavor, announced Tuesday, after nearly three years as a public company that gives Endeavor an equity value of $13 billion.
According to the filing, Whitesell’s business will include “(a) investing in and providing services to companies in the entertainment, media and sports industries, (b) developing, producing, financing and exploiting film, television and digital audio visual content, (c) talent management and (d) consulting with other entertainment companies.” Whitesell is expected to remain with WME while running the as-yet-unnamed new company.
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