As it cruises toward its $13 billion deal to go private with Silver Lake, Endeavor reported first-quarter earnings Thursday.
The company reported total revenue of $1.85 billion, and a net loss of $303.5 million, with adjusted Ebitda of $374.1 million. Total revenue was way up compared to last year, thanks to sports entertainment powerhouse WWE now being controlled by the company.
While the company’s owned sports division (consisting primarily of Tko Group Holdings) reported a strong quarter of $685.4 million, its other divisions reported slight declines compared to last year, owing to fewer events being held in the first quarter of 2024 than the prior year.
In Endeavor’s representation segment, which includes the WME talent agency, revenue was $345.3 million, down 1.4 percent. The company says that WME’s music, comedy, talent and sports divisions were all up, but that “certain fashion projects” that took place in the first quarter of 2023 did not happen in the quarter this year,...
The company reported total revenue of $1.85 billion, and a net loss of $303.5 million, with adjusted Ebitda of $374.1 million. Total revenue was way up compared to last year, thanks to sports entertainment powerhouse WWE now being controlled by the company.
While the company’s owned sports division (consisting primarily of Tko Group Holdings) reported a strong quarter of $685.4 million, its other divisions reported slight declines compared to last year, owing to fewer events being held in the first quarter of 2024 than the prior year.
In Endeavor’s representation segment, which includes the WME talent agency, revenue was $345.3 million, down 1.4 percent. The company says that WME’s music, comedy, talent and sports divisions were all up, but that “certain fashion projects” that took place in the first quarter of 2023 did not happen in the quarter this year,...
- 5/9/2024
- by Alex Weprin
- The Hollywood Reporter - Movie News
Endeavor delivered a loss for the first three months of the year as the parent company of UFC, WWE, WME and Img burned through nearly $400 million in cash during the first quarter.
The company released its Q1 2024 earnings report Thursday, which is likely to be one of its last as a public company as Endeavor awaits the completion of its deal to be bought out at $27.50 per share in cash by private-equity firm Silver Lake. That deal is expected to close by the end of the first quarter of 2025.
The parent company that controls publicly traded sports firm Tko Group Holdings, which houses UFC and WWE, took a hit from the $335 million charge that Tko recorded to reflect its legal settlement in a long-running antitrust case with former UFC fighters. That charge, plus revenue declines for the quarter in Endeavor’s events, experiences and rights and its sports data divisions,...
The company released its Q1 2024 earnings report Thursday, which is likely to be one of its last as a public company as Endeavor awaits the completion of its deal to be bought out at $27.50 per share in cash by private-equity firm Silver Lake. That deal is expected to close by the end of the first quarter of 2025.
The parent company that controls publicly traded sports firm Tko Group Holdings, which houses UFC and WWE, took a hit from the $335 million charge that Tko recorded to reflect its legal settlement in a long-running antitrust case with former UFC fighters. That charge, plus revenue declines for the quarter in Endeavor’s events, experiences and rights and its sports data divisions,...
- 5/9/2024
- by Cynthia Littleton
- Variety Film + TV
Tko Group Holdings beat Wall Street revenue expectations to a pulp in its first quarter 2024 earnings report Wednesday, though a $335 million UFC fighter pay settlement pushed the company from a profit to a loss in the quarter.
The company also cut a new WWE distribution deal, albeit a relatively minor one: Raw, which will move to Netflix in January 2025, will continue to run on USA Network through the end of this year. USA’s current deal for Raw was set to expire at the end of September. Tko says it is receiving $25 million for the program during the three month window.
The Endeavor-controlled company, which owns the UFC and WWE, reported revenue of $629.7 million, with a net loss of $249.5 million and adjusted Ebitda of $282.2 million. The company also raised its guidance for the year of up to $2.685 billion in revenue, and adjusted Ebitda of up to $1.205 billion
The loss is...
The company also cut a new WWE distribution deal, albeit a relatively minor one: Raw, which will move to Netflix in January 2025, will continue to run on USA Network through the end of this year. USA’s current deal for Raw was set to expire at the end of September. Tko says it is receiving $25 million for the program during the three month window.
The Endeavor-controlled company, which owns the UFC and WWE, reported revenue of $629.7 million, with a net loss of $249.5 million and adjusted Ebitda of $282.2 million. The company also raised its guidance for the year of up to $2.685 billion in revenue, and adjusted Ebitda of up to $1.205 billion
The loss is...
- 5/8/2024
- by Alex Weprin
- The Hollywood Reporter - Movie News
Tko, the parent company of UFC and WWE, is on the upswing, delivering solid Q1 results and enough momentum for both franchises that the company opted to boost its full-year revenue and earnings guidance for Wall Street.
Tko disclosed that it has reached a $25 million deal with NBCUniversal to allow WWE’s “Monday Night Raw” wrestling franchise to remain on USA Network through the end of this year. In January, Tko struck a massive 10-year deal with Netflix to bring “Raw” and other WWE content to the streamer’s platform as of next year.
At the time, WWE’s pact with NBCU for “Raw” ran through the end of the third quarter. That forced Tko leaders to acknowledge on the company’s Q4 earnings call in February that “Raw” might not have a TV home for the last three months of this year and with that, no revenue coming in.
Tko disclosed that it has reached a $25 million deal with NBCUniversal to allow WWE’s “Monday Night Raw” wrestling franchise to remain on USA Network through the end of this year. In January, Tko struck a massive 10-year deal with Netflix to bring “Raw” and other WWE content to the streamer’s platform as of next year.
At the time, WWE’s pact with NBCU for “Raw” ran through the end of the third quarter. That forced Tko leaders to acknowledge on the company’s Q4 earnings call in February that “Raw” might not have a TV home for the last three months of this year and with that, no revenue coming in.
- 5/8/2024
- by Cynthia Littleton
- Variety Film + TV
There’s a new, scary reality sinking in for both Paramount shareholders and its board of directors: What if nobody buys Paramount?
Not much more than a week ago it felt like a foregone conclusion that David Ellison would buy out Shari Redstone’s controlling stake in Paramount Global for a few billion bucks, and force Paramount to buy his Skydance for a few billion more bucks than that. That’s what Redstone wanted to happen at least, and what Redstone wants she’s pretty well set up to get. She has the shares to force whatever outcome she wants and stop whatever one she doesn’t.
But there was another suitor who could no longer be ignored.
Apollo Global Management, a private-equity fund, has been knocking on Redstone’s door for months. It’s pounding now. At first, Apollo offered $11 billion to buy out Paramount’s studio. No way,...
Not much more than a week ago it felt like a foregone conclusion that David Ellison would buy out Shari Redstone’s controlling stake in Paramount Global for a few billion bucks, and force Paramount to buy his Skydance for a few billion more bucks than that. That’s what Redstone wanted to happen at least, and what Redstone wants she’s pretty well set up to get. She has the shares to force whatever outcome she wants and stop whatever one she doesn’t.
But there was another suitor who could no longer be ignored.
Apollo Global Management, a private-equity fund, has been knocking on Redstone’s door for months. It’s pounding now. At first, Apollo offered $11 billion to buy out Paramount’s studio. No way,...
- 5/7/2024
- by Tony Maglio and Brian Welk
- Indiewire
Massachusetts Senator Elizabeth Warren didn’t mince any words. “CEO pay is out of control,” she posted on April 22, singling out Warner Bros. Discovery CEO David Zaslav, whose team has had a rocky road integrating two companies since the mega-merger that created the Hollywood conglomerate, dealing with a high debt load and shoring up profits. Zaslav “made $49.7 million last year, +26% from 2022 — despite layoffs, box office bombs, a lagging stock price,” Warren wrote on X. “Meanwhile, WB workers had to strike for higher pay.”
The latest annual executive pay disclosure season, which is now wrapped up, is unlikely to change the views of critics like Warren. Hollywood CEOs struggled with a plethora of challenges in 2023 — from the dual writers’ and actors’ strikes, cord-cutting, and a soft advertising market to a battle for streaming profits and M&a chatter, with the remedy often being layoffs, cost reductions and cutbacks in spending. One thing...
The latest annual executive pay disclosure season, which is now wrapped up, is unlikely to change the views of critics like Warren. Hollywood CEOs struggled with a plethora of challenges in 2023 — from the dual writers’ and actors’ strikes, cord-cutting, and a soft advertising market to a battle for streaming profits and M&a chatter, with the remedy often being layoffs, cost reductions and cutbacks in spending. One thing...
- 5/7/2024
- by Georg Szalai
- The Hollywood Reporter - Movie News
Whatever fate befalls Paramount Global after the smoke clears, one of the Hollywood Trivial Pursuit questions someday will be which heavy hitters have issued statements of support for Skydance’s proposed acquisition of Paramount’s holding company, National Amusements Inc. — and which didn’t.
Even as the Paramount special committee passed on the offer from David Ellison’s company May 4, sources say the Skydance-RedBird alliance has not given up. The premise, a source with knowledge of the situation tells The Hollywood Reporter, is that the rival Apollo/Sony Pictures offer now up for Paramount’s consideration will fail for multiple reasons, with Skydance still waiting in the wings.
So despite much Wall Street skepticism over a proposed deal that favors controlling shareholder Shari Redstone over other investors, “Skydance has been on an extremely aggressive PR campaign in the last month to convince everyone how legitimate they are,” says a prominent media mogul.
Even as the Paramount special committee passed on the offer from David Ellison’s company May 4, sources say the Skydance-RedBird alliance has not given up. The premise, a source with knowledge of the situation tells The Hollywood Reporter, is that the rival Apollo/Sony Pictures offer now up for Paramount’s consideration will fail for multiple reasons, with Skydance still waiting in the wings.
So despite much Wall Street skepticism over a proposed deal that favors controlling shareholder Shari Redstone over other investors, “Skydance has been on an extremely aggressive PR campaign in the last month to convince everyone how legitimate they are,” says a prominent media mogul.
- 5/6/2024
- by Kim Masters
- The Hollywood Reporter - Movie News
A special committee of Paramount’s board of directors decided over the weekend to formally open negotiations with Sony Pictures Entertainment and private equity group Apollo Global Management, an individual with knowledge told TheWrap. The decision follows an exclusive negotiation period between Paramount and Skydance ending Friday with no deal made.
A spokesperson for the special committee declined to comment.
Sony Pictures stepped into the race by making a joint informal offer with private equity firm Apollo Global Management of $26 billion, all cash, for Paramount. When it comes to Skydance, it received the public backing Sunday of two big names: director James Cameron and Endeavor CEO Ari Emanuel, who voiced their support for David Ellison’s Skydance acquiring Paramount in an interview with the Financial Times.
The committee also pushed for further negotiations with Skydance. The exclusive negotiating window closing with no deal and not being extended doesn’t mean...
A spokesperson for the special committee declined to comment.
Sony Pictures stepped into the race by making a joint informal offer with private equity firm Apollo Global Management of $26 billion, all cash, for Paramount. When it comes to Skydance, it received the public backing Sunday of two big names: director James Cameron and Endeavor CEO Ari Emanuel, who voiced their support for David Ellison’s Skydance acquiring Paramount in an interview with the Financial Times.
The committee also pushed for further negotiations with Skydance. The exclusive negotiating window closing with no deal and not being extended doesn’t mean...
- 5/5/2024
- by Mike Roe, Sharon Waxman
- The Wrap
Updated with Paramount’s board decision to begin new negotiations: A special committee of the Paramount Global board decided at a meeting yesterday to begin talking with Sony and Apollo following the expiration of a month-long negotiating window with Skydance on Friday night.
The committee met over the weekend to consider its approach to the preliminary $26 billion cash bid, including the assumption of debt, made jointly by the entertainment giant and global private equity film.
But the David Ellison studio is still in the mix as Paramount seeks to continue those talks – just non-exclusive, obviously, Deadline has learned.
That’s a deal that won’t have any regulatory issues in closing, and is the one that Par’s controlling shareholder Shari Restone prefers.
Paramount shareholders hate the Skydance deal, just as much of Hollywood detests the idea of Paramount and Sony merging – a combination that would need to pass regulatory scrutiny.
The committee met over the weekend to consider its approach to the preliminary $26 billion cash bid, including the assumption of debt, made jointly by the entertainment giant and global private equity film.
But the David Ellison studio is still in the mix as Paramount seeks to continue those talks – just non-exclusive, obviously, Deadline has learned.
That’s a deal that won’t have any regulatory issues in closing, and is the one that Par’s controlling shareholder Shari Restone prefers.
Paramount shareholders hate the Skydance deal, just as much of Hollywood detests the idea of Paramount and Sony merging – a combination that would need to pass regulatory scrutiny.
- 5/5/2024
- by Jill Goldsmith
- Deadline Film + TV
Both James Cameron and Ari Emanuel offered their support this weekend of Skydance’s bid to acquire Paramount.
Though reports earlier this week suggested that Paramount’s special board committee was leaning against accepting Skydance’s offer, Cameron and Emanuel told The Financial Times on Sunday that they supported Skydance founder David Ellison’s potential leadership.
The deal, first offered during a 30-day exclusive negotiating window at the beginning of April, would see Skydance, joined by financial partners RedBird Capital and Kkir, acquire controlling shareholder Shari Redstone’s stake in the company and then merge Skydance into Paramount, keeping it as a publicly traded company, with new leadership at the helm.
“I love the Ellison idea,” Cameron, whose 1997 film Titanic remains one of Paramount’s most successful movies, said. “If he gets . . . to run Paramount creatively, it could be a huge boon for this business in these ailing times. David’s proven himself.
Though reports earlier this week suggested that Paramount’s special board committee was leaning against accepting Skydance’s offer, Cameron and Emanuel told The Financial Times on Sunday that they supported Skydance founder David Ellison’s potential leadership.
The deal, first offered during a 30-day exclusive negotiating window at the beginning of April, would see Skydance, joined by financial partners RedBird Capital and Kkir, acquire controlling shareholder Shari Redstone’s stake in the company and then merge Skydance into Paramount, keeping it as a publicly traded company, with new leadership at the helm.
“I love the Ellison idea,” Cameron, whose 1997 film Titanic remains one of Paramount’s most successful movies, said. “If he gets . . . to run Paramount creatively, it could be a huge boon for this business in these ailing times. David’s proven himself.
- 5/5/2024
- by Zoe G Phillips
- The Hollywood Reporter - Movie News
Exclusive: Former Fifth Season film head Alexis Garcia has launched CAT5, an action film label that will be backed by his former employers, who are among other investors and partners to be announced at later date. As one of its first projects, CAT5 has signed on to co-finance Black Bear’s Levon’s Trade. The film is in production, with David Ayer-directing the Jason Statham vehicle that was adapted from the Chuck Dixon novel by Sylvester Stallone, with revisions by Ayer. Garcia joins as an executive producer. The film is in production in London and slated for wide theatrical release in the U.S. by Amazon MGM Studios on January 17, 2025.
Garcia spent seven years with Fifth Season and Graham Taylor and Chris Rice, helping build it from its 2017 launch as Endeavor Content. Before that he spent a decade at Endeavor/WME under Ari Emanuel and Patrick Whitesell, where he...
Garcia spent seven years with Fifth Season and Graham Taylor and Chris Rice, helping build it from its 2017 launch as Endeavor Content. Before that he spent a decade at Endeavor/WME under Ari Emanuel and Patrick Whitesell, where he...
- 5/2/2024
- by Mike Fleming Jr
- Deadline Film + TV
It was a year of pain for the entertainment industry and shareholders of (many) media companies with months-long Hollywood strikes and layoffs. Linear television continued to decline and a nascent theatrical recovery went sideways. Most CEOs saw pay packages rise in 2023, some by big multiples.
“The pay is egregious, but it is something we have learned to accept,” says one longtime entertainment analyst.
Irritants cited: CEOs rewarded for deals before its clear how they’ll pan out; CEOs who should looking for growth but keep cutting; CEO pay packages that feel disproportionate to the size of the company. Paramount Global’s (now ex) CEO Bob Bakish saw compensation of $31 million, a hair lower than Disney’s Bob Iger in his first year back as chief executive. (See CEO pay chart below right)
Bakish may also be entitled to severance in the neighborhood of $48.5 million after being ejected earlier this week,...
“The pay is egregious, but it is something we have learned to accept,” says one longtime entertainment analyst.
Irritants cited: CEOs rewarded for deals before its clear how they’ll pan out; CEOs who should looking for growth but keep cutting; CEO pay packages that feel disproportionate to the size of the company. Paramount Global’s (now ex) CEO Bob Bakish saw compensation of $31 million, a hair lower than Disney’s Bob Iger in his first year back as chief executive. (See CEO pay chart below right)
Bakish may also be entitled to severance in the neighborhood of $48.5 million after being ejected earlier this week,...
- 5/2/2024
- by Jill Goldsmith
- Deadline Film + TV
Over three days of testimony this week, Donald Trump’s hush money trial in Manhattan has spawned subplots inside and outside the courtroom.
With a decision on one contempt motion pending, Judge Juan Merchan has scheduled a hearing on Thursday for prosecutors to argue that Trump has committed more violations of the judge’s gag order against disparaging or intimidating witnesses, jurors and other trial participants.
At the first contempt hearing on Tuesday, prosecutors sought fines for ten Trump online posts blasting witnesses Stormy Daniels and Michael Cohen and calling prospective jurors “liberal activists.” Assistant Manhattan District Attorney Chris Conroy said that next week’s hearing will cover four more alleged gag-order violations.
The last was at a construction site in Midtown Manhattan on Thursday where Trump visited with workers before heading to court. There, Trump talked about the prosecution’s first witness, David Pecker, the former CEO of National Enquirer publisher American Media,...
With a decision on one contempt motion pending, Judge Juan Merchan has scheduled a hearing on Thursday for prosecutors to argue that Trump has committed more violations of the judge’s gag order against disparaging or intimidating witnesses, jurors and other trial participants.
At the first contempt hearing on Tuesday, prosecutors sought fines for ten Trump online posts blasting witnesses Stormy Daniels and Michael Cohen and calling prospective jurors “liberal activists.” Assistant Manhattan District Attorney Chris Conroy said that next week’s hearing will cover four more alleged gag-order violations.
The last was at a construction site in Midtown Manhattan on Thursday where Trump visited with workers before heading to court. There, Trump talked about the prosecution’s first witness, David Pecker, the former CEO of National Enquirer publisher American Media,...
- 4/26/2024
- by Sean Piccoli
- Deadline Film + TV
Endeavor CEO Ari Emanuel’s 2023 pay package totaled $83.9 million, according to the company’s proxy statement today. That includes $65 million in compensation last year as chief executive of Tko Group, the new public company that’s controlled by Endeavor.
His Endeavor bundle includes a $4.9 million base salary, a cash bonus of $34.6 million and stock awards valued at $43.5 million. The package is up from $19 million in 2022, but that came after a package worth $308 million in 2021. Proxies list the salaries of a company’s top five highest paid executives.
Endeavor’s largest shareholder, Silver Lake, is in the process of taking the company private. Tko, the home of WWE and UFC, will remain public. That company started trading in September. It was created from Endeavor’s acquisition of WWE from Vince McMahon.
A previous version of this story incorrectly stated that Emanuel’s Endeavor pay was on top of his compensation from Tko Group.
His Endeavor bundle includes a $4.9 million base salary, a cash bonus of $34.6 million and stock awards valued at $43.5 million. The package is up from $19 million in 2022, but that came after a package worth $308 million in 2021. Proxies list the salaries of a company’s top five highest paid executives.
Endeavor’s largest shareholder, Silver Lake, is in the process of taking the company private. Tko, the home of WWE and UFC, will remain public. That company started trading in September. It was created from Endeavor’s acquisition of WWE from Vince McMahon.
A previous version of this story incorrectly stated that Emanuel’s Endeavor pay was on top of his compensation from Tko Group.
- 4/25/2024
- by Jill Goldsmith
- Deadline Film + TV
Endeavor chief Ari Emanuel received a roughly $84 million pay package last year — between his base salary, bonus, stock awards and other compensation — the company disclosed in its proxy filing on Thursday.
President Mark Shapiro received $38.8 million, by those same measures, in 2023, while executive chairman Patrick Whitesell saw $13.2 million in pay, the filing disclosed.
The Endeavor pay for Emanuel and Shapiro include their paydays at Tko Group Holdings, the owners of WWE and UFC, where Emanuel’s compensation package was valued at nearly $65 million last year.
After a three-year run as a public company, Endeavor is set to go private in a reversal for Silver Lake and the executives running the company. But Emanuel, Whitesell and Shapiro will all be the beneficiaries of some generous deal-related bonuses.
For starters, they are incentivized to be sellers. While a source says that no major asset sales are imminent and there is no rush to sell anything off,...
President Mark Shapiro received $38.8 million, by those same measures, in 2023, while executive chairman Patrick Whitesell saw $13.2 million in pay, the filing disclosed.
The Endeavor pay for Emanuel and Shapiro include their paydays at Tko Group Holdings, the owners of WWE and UFC, where Emanuel’s compensation package was valued at nearly $65 million last year.
After a three-year run as a public company, Endeavor is set to go private in a reversal for Silver Lake and the executives running the company. But Emanuel, Whitesell and Shapiro will all be the beneficiaries of some generous deal-related bonuses.
For starters, they are incentivized to be sellers. While a source says that no major asset sales are imminent and there is no rush to sell anything off,...
- 4/25/2024
- by Alex Weprin
- The Hollywood Reporter - Movie News
Ari Emanuel, in his capacity as CEO of Tko Group Holdings — the parent company of UFC and WWE — had a compensation package last year that hit nearly $65 million.
Tko granted Emanuel, who also is CEO of Endeavor, a base salary of $911,538, plus a $24 million cash bonus and stock awards worth $40 million in 2023, per a regulatory filing by Tko. All told, the exec’s pay package totaled $64.91 million.
Tko previously disclosed that Emanuel received stock grants worth $40 million, vesting over a four-year period, in conjunction with the closing of the UFC-wwe merger in September 2023 (which is majority owned by Endeavor).
Among other Tko execs, WWE president Nick Khan had a 2023 compensation package worth $32 million. That included a salary of $515,385, a bonus of $15 million, stock grants worth $12.1 million and a cash incentive compensation of $4.5 million. Vince McMahon, WWE’s former CEO who resigned from Tko’s board earlier this year in the...
Tko granted Emanuel, who also is CEO of Endeavor, a base salary of $911,538, plus a $24 million cash bonus and stock awards worth $40 million in 2023, per a regulatory filing by Tko. All told, the exec’s pay package totaled $64.91 million.
Tko previously disclosed that Emanuel received stock grants worth $40 million, vesting over a four-year period, in conjunction with the closing of the UFC-wwe merger in September 2023 (which is majority owned by Endeavor).
Among other Tko execs, WWE president Nick Khan had a 2023 compensation package worth $32 million. That included a salary of $515,385, a bonus of $15 million, stock grants worth $12.1 million and a cash incentive compensation of $4.5 million. Vince McMahon, WWE’s former CEO who resigned from Tko’s board earlier this year in the...
- 4/24/2024
- by Todd Spangler
- Variety Film + TV
Ari Emanuel, CEO of Tko Group as well as the soon-to-be-private Endeavor, saw a pay package valued at $64.9 million in 2023 as CE0 of Tko Group, the home of WWE and UFC. Tko is a relatively new company that started trading on the New York Stock Exchange last September.
Emanuel’s compensation included a $911k base salary, a cash bonus of $24 million, and stock awards valued at $40 million.
Tko chief operating officer Mark Shapiro’s package totaled $16 million for last year, according to Tko’s proxy statement filed with the SEC last year. Shapiro holds the same role at Endeavor.
The compensation committee noted revenue, adjusted ebitda gains, cost reduction, strong turnout for UFC and WWE live events, and a set of media rights deals for WWE, including a long-term deal with Netflix. “The effective leadership of our named executive officers was critical to our success in achieving these financial results and strategic activity milestones and,...
Emanuel’s compensation included a $911k base salary, a cash bonus of $24 million, and stock awards valued at $40 million.
Tko chief operating officer Mark Shapiro’s package totaled $16 million for last year, according to Tko’s proxy statement filed with the SEC last year. Shapiro holds the same role at Endeavor.
The compensation committee noted revenue, adjusted ebitda gains, cost reduction, strong turnout for UFC and WWE live events, and a set of media rights deals for WWE, including a long-term deal with Netflix. “The effective leadership of our named executive officers was critical to our success in achieving these financial results and strategic activity milestones and,...
- 4/24/2024
- by Jill Goldsmith
- Deadline Film + TV
Endeavor’s $21 billion deal to merge its UFC with the WWE and create Tko Group Holdings last year created a live sports powerhouse. The deal, orchestrated by the Ari Emanuel-led holding company, also delivered rich compensation packages for its top executives.
Emanuel took home a package valued at nearly $65 million last year, including a $911,538 salary (it is prorated to reflect only Sept. 12, 2023 to the end of the year), a $24 million bonus, and $40 million in stock awards, per Tko’s 2023 proxy filing disclosed on Wednesday.
As always with CEO pay packages (including Emanuel’s $300 million-plus package in 2021), that number is dependent on the company hitting key metrics, and the share price consistently moving upwards.
Tko president and COO Mark Shapiro earned a package valued at $16.1 million last year, while CFO Andrew Schleimer took home an $8.8 million package. WWE president Nick Khan, who is also a board member of the company,...
Emanuel took home a package valued at nearly $65 million last year, including a $911,538 salary (it is prorated to reflect only Sept. 12, 2023 to the end of the year), a $24 million bonus, and $40 million in stock awards, per Tko’s 2023 proxy filing disclosed on Wednesday.
As always with CEO pay packages (including Emanuel’s $300 million-plus package in 2021), that number is dependent on the company hitting key metrics, and the share price consistently moving upwards.
Tko president and COO Mark Shapiro earned a package valued at $16.1 million last year, while CFO Andrew Schleimer took home an $8.8 million package. WWE president Nick Khan, who is also a board member of the company,...
- 4/24/2024
- by Alex Weprin
- The Hollywood Reporter - Movie News
At Wrestlemania 40 this past weekend, WWE chief content officer Paul “Triple H” Levesque took to the stage at Lincoln Financial Field in Philadelphia and opened the events by declaring it a “new era” for the company.
It was the first Wrestlemania to be held under the ownership of Tko Group Holdings, formed when Endeavor spun out its UFC business and merged it with the WWE last year. And it was the first Wrestlemania in the WWE’s history without Vince McMahon behind the curtain, with the executive exiting the company in January after being hit with a lawsuit alleging battery and sex trafficking.
Now, McMahon – who remains the largest outside shareholder in the company – is taking another step toward a more complete break from the sports entertainment firm.
On Monday, Tko and Endeavor disclosed that McMahon is selling some $311.2 million worth of stock in the company, $165 million to Tko in...
It was the first Wrestlemania to be held under the ownership of Tko Group Holdings, formed when Endeavor spun out its UFC business and merged it with the WWE last year. And it was the first Wrestlemania in the WWE’s history without Vince McMahon behind the curtain, with the executive exiting the company in January after being hit with a lawsuit alleging battery and sex trafficking.
Now, McMahon – who remains the largest outside shareholder in the company – is taking another step toward a more complete break from the sports entertainment firm.
On Monday, Tko and Endeavor disclosed that McMahon is selling some $311.2 million worth of stock in the company, $165 million to Tko in...
- 4/8/2024
- by Alex Weprin
- The Hollywood Reporter - Movie News
Silver Lake, the private equity firm that is planning to take WME owner Endeavor private, is also aiming to get further into business with Endeavor executive chairman Patrick Whitesell.
According to Whitesell’s new employment agreement, which was filed with the Securities and Exchange Commission in conjunction with the take-private, Silver Lake is committing $250 million in seed money for a new media company to be led by the Endeavor executive chairman.
“Activities of the Media Company 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,” per the filing.
The agreement also says that Whitesell will continue to serve on the (soon-to-be private) Endeavor board and will continue to play a central role in the company, and continuing to work...
According to Whitesell’s new employment agreement, which was filed with the Securities and Exchange Commission in conjunction with the take-private, Silver Lake is committing $250 million in seed money for a new media company to be led by the Endeavor executive chairman.
“Activities of the Media Company 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,” per the filing.
The agreement also says that Whitesell will continue to serve on the (soon-to-be private) Endeavor board and will continue to play a central role in the company, and continuing to work...
- 4/3/2024
- by Alex Weprin
- The Hollywood Reporter - Movie News
Silver 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.
So Whitesell, while continuing to be a big Endeavor shareholder and board member and remaining in a central role in WME, will be branching out. That’s all there was about the new company in the filing, which also laid out new employment letters for CEO Ari Emanuel and president and COO Mark Shapiro, who will be running Endeavor.
The document also refers a number...
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.
So Whitesell, while continuing to be a big Endeavor shareholder and board member and remaining in a central role in WME, will be branching out. That’s all there was about the new company in the filing, which also laid out new employment letters for CEO Ari Emanuel and president and COO Mark Shapiro, who will be running Endeavor.
The document also refers a number...
- 4/3/2024
- by Jill Goldsmith
- Deadline Film + TV
Endeavor, three years after the sports, entertainment and talent management company went public, announced that it has entered into an agreement to be acquired by private-equity firm Silver Lake.
The deal gives Endeavor an equity value of $13 billion, the companies said. According to the parties, the premium to be paid by Silver Lake — which already owns 71% of the voting shares in Endeavor — represents $4.6 billion more equity value to all Endeavor stockholders. The acquisition is expected to close in the first quarter of 2025.
“Silver Lake believes that when consolidating all of Tko’s value into Endeavor, the combined total enterprise value of $25 billion will make this the largest private equity sponsor public-to-private investment transaction in over a decade, and the largest ever in the media and entertainment sector,” the companies said in announcing the pact.
Tko Group Holdings — formed last year by the merger of WWE and Endeavor-owned UFC — is not...
The deal gives Endeavor an equity value of $13 billion, the companies said. According to the parties, the premium to be paid by Silver Lake — which already owns 71% of the voting shares in Endeavor — represents $4.6 billion more equity value to all Endeavor stockholders. The acquisition is expected to close in the first quarter of 2025.
“Silver Lake believes that when consolidating all of Tko’s value into Endeavor, the combined total enterprise value of $25 billion will make this the largest private equity sponsor public-to-private investment transaction in over a decade, and the largest ever in the media and entertainment sector,” the companies said in announcing the pact.
Tko Group Holdings — formed last year by the merger of WWE and Endeavor-owned UFC — is not...
- 4/2/2024
- by Todd Spangler
- Variety Film + TV
Endeavor Group Holdings, parent of talent agency WME and controlling shareholder in combat sports powerhouse Tko Group, is going private.
Private equity firm Silver Lake Capital is leading the privatization, which the company describes Tuesday as the largest in media and entertainment history and the biggest in any sector over the past decade. The equity value of the acquisition is pegged at $13 billion, with the enterprise value nearly double that when the Tko interest is taken into account.
Shareholders will receive $27.50 in cash for each share. The price is a 9% premium over Monday’s close and 55% better than the closing price last October 25, which was when Endeavor announced it was considering strategic alternatives.
The move ends a mixed three-year run for Endeavor as a public company. Announced with great anticipation prior to Covid, the effort to take the company public was pulled at the eleventh hour in 2019 before finally coming...
Private equity firm Silver Lake Capital is leading the privatization, which the company describes Tuesday as the largest in media and entertainment history and the biggest in any sector over the past decade. The equity value of the acquisition is pegged at $13 billion, with the enterprise value nearly double that when the Tko interest is taken into account.
Shareholders will receive $27.50 in cash for each share. The price is a 9% premium over Monday’s close and 55% better than the closing price last October 25, which was when Endeavor announced it was considering strategic alternatives.
The move ends a mixed three-year run for Endeavor as a public company. Announced with great anticipation prior to Covid, the effort to take the company public was pulled at the eleventh hour in 2019 before finally coming...
- 4/2/2024
- by Dade Hayes
- Deadline Film + TV
Three years after it went public, the sports and entertainment behemoth Endeavor is to go private and will be acquired by majority shareholder Silver Lake in a deal that values it at $13bn.
Private equity firm Silver Lake will acquire all the outstanding shares it does not already own, other than rolled interests.
Stockholders of Endeavor, which owns the talent agencies WME and Img, will receive $27.50 per share in cash. That marks a 55% gain on the closing price on October 25 last year, when Endeavor announced it would implement a formal review to evaluate strategic alternatives
Silver Lake, which first invested...
Private equity firm Silver Lake will acquire all the outstanding shares it does not already own, other than rolled interests.
Stockholders of Endeavor, which owns the talent agencies WME and Img, will receive $27.50 per share in cash. That marks a 55% gain on the closing price on October 25 last year, when Endeavor announced it would implement a formal review to evaluate strategic alternatives
Silver Lake, which first invested...
- 4/2/2024
- ScreenDaily
Formula 1 owner Liberty Media, led by chairman John Malone and CEO Greg Maffei, has struck a deal to acquire a big majority stake in the company behind the motorcycle racing circuit MotoGP in a deal that puts an enterprise value of 4.2 billion euro ($4.5 billion) on the firm.
The deal for Madrid-based Dorna Sports, which is the commercial rights holder for MotoGP, comes after the likes of UFC and WWE owner Tko Group, run by Ari Emanuel, and Qatar Sports Investments had also looked at a possible takeover, according to reports.
Liberty said the transaction also amounts to an equity value of 3.5 billion euro ($3.8 billion) for the company, “with the existing debt balance at MotoGP expected to remain in place after close.” Liberty said it will attribute MotoGP to its Formula One Group tracking stock and expects to pay for the business with approximately 65 percent in cash and 21 percent in...
The deal for Madrid-based Dorna Sports, which is the commercial rights holder for MotoGP, comes after the likes of UFC and WWE owner Tko Group, run by Ari Emanuel, and Qatar Sports Investments had also looked at a possible takeover, according to reports.
Liberty said the transaction also amounts to an equity value of 3.5 billion euro ($3.8 billion) for the company, “with the existing debt balance at MotoGP expected to remain in place after close.” Liberty said it will attribute MotoGP to its Formula One Group tracking stock and expects to pay for the business with approximately 65 percent in cash and 21 percent in...
- 4/1/2024
- by Georg Szalai
- The Hollywood Reporter - Movie News
Social media influencer and YouTuber Logan Paul is also a professional wrestler signed to WWE and is competing on the SmackDown event. The entrepreneur currently holds the title of WWE United States Champion. Paul is one of the highest-paid YouTubers and is also regarded as one of the most influential people in the industry.
Logan Paul co-founded Prime Beverages alongside Ksi, which is created and marketed by Prime Hydration, LLC. The company produces a variety of energy drinks, sports drinks, and drink mixes containing varying levels of caffeine, electrolytes, and added micronutrients. Prime Hydration’s recent appearance on WWE sends fans into wondering if Vince McMahon’s leadership was better.
Logan Paul’s Prime Hydration to be advertised in the center-ring Logan Paul’s Prime Hydration center-ring sponsorship deal with WWE
According to reports by WWE, professional wrestler and social media influencer Logan Paul, along with Ksi who co-founded Prime Hydration,...
Logan Paul co-founded Prime Beverages alongside Ksi, which is created and marketed by Prime Hydration, LLC. The company produces a variety of energy drinks, sports drinks, and drink mixes containing varying levels of caffeine, electrolytes, and added micronutrients. Prime Hydration’s recent appearance on WWE sends fans into wondering if Vince McMahon’s leadership was better.
Logan Paul’s Prime Hydration to be advertised in the center-ring Logan Paul’s Prime Hydration center-ring sponsorship deal with WWE
According to reports by WWE, professional wrestler and social media influencer Logan Paul, along with Ksi who co-founded Prime Hydration,...
- 3/9/2024
- by Avneet Ahluwalia
- FandomWire
Vince McMahon, the ex-WWE impresario who abruptly left parent Tko Group Holdings’ board in the wake of a graphic sexual abuse lawsuit “is not coming back to the company,” Tko President Mark Shapiro affirmed Wednesday.
Speaking at a conference in San Francisco hosted by Wall Street firm Morgan Stanley, Shapiro said Tko “did not participate in the recent sale of Vince McMahon’s load that he dropped off.” He was referring to McMahon’s decision, revealed Monday in an SEC filing, to sell $412 million in Tko stock. The company was formed last fall as a holding entity for the WWE and UFC, controlled by Endeavor.
Shapiro said the most recent stock sale cut McMahon’s holdings to 15 million shares. He had sold an even bigger tranche several weeks ago and his position in the company is down from an initial level of 28 million shares, Shapiro said, giving him 8.5% of all shares.
Speaking at a conference in San Francisco hosted by Wall Street firm Morgan Stanley, Shapiro said Tko “did not participate in the recent sale of Vince McMahon’s load that he dropped off.” He was referring to McMahon’s decision, revealed Monday in an SEC filing, to sell $412 million in Tko stock. The company was formed last fall as a holding entity for the WWE and UFC, controlled by Endeavor.
Shapiro said the most recent stock sale cut McMahon’s holdings to 15 million shares. He had sold an even bigger tranche several weeks ago and his position in the company is down from an initial level of 28 million shares, Shapiro said, giving him 8.5% of all shares.
- 3/6/2024
- by Dade Hayes
- Deadline Film + TV
WWE founder Vince McMahon, who stepped down from his posts as executive chairman and board member of Tko Group amid renewed scrutiny around sexual misconduct, is selling a substantial chunk of his stake in the company.
According to a securities filing Tuesday, McMahon plans to sell 5.4 million shares in Tko, which comes out to roughly $412 million. The value of the shares could end up being worth as much as $25 million more, with the company’s stock price closing at $81.67 at market close on Monday.
The shares comprise roughly 25 percent of his remaining stake in Tko. The sale comes after McMahon in November moved to sell 8.4 million shares in the company, with a street value of just over $700 million. Notably, Tko bought back $100 million worth of the shares. Endeavor and Tko chief executive Ari Emanuel, as well as president and COO Mark Shapiro, also collectively purchased $2 million of stock.
The transaction...
According to a securities filing Tuesday, McMahon plans to sell 5.4 million shares in Tko, which comes out to roughly $412 million. The value of the shares could end up being worth as much as $25 million more, with the company’s stock price closing at $81.67 at market close on Monday.
The shares comprise roughly 25 percent of his remaining stake in Tko. The sale comes after McMahon in November moved to sell 8.4 million shares in the company, with a street value of just over $700 million. Notably, Tko bought back $100 million worth of the shares. Endeavor and Tko chief executive Ari Emanuel, as well as president and COO Mark Shapiro, also collectively purchased $2 million of stock.
The transaction...
- 3/5/2024
- by Winston Cho
- The Hollywood Reporter - Movie News
The V.I.P. opening day of the Frieze Los Angeles art fair felt like a family affair as Hollywood power players and art world elites met and mingled to view the best works from galleries around the world. Held at the Santa Monica Airport for the second year running, the all-day event on Thursday, Feb. 29, felt breezier this year, as a new design and 20 percent fewer galleries gave A-listers the space to peruse and schmooze.
One couldn’t go two feet without shaking hands with an old friend or coming upon a clutch of Hollywood insiders. Old pals Will Ferrell, Owen Wilson and Luke Wilson — the first two movie star incognito in baseball caps — chatted with Lacma director and CEO Michael Govan in front of one booth, while bigwig agents-slash-collectors from Endeavor, CAA and UTA were out in force, some swarming together in packs. Ari Emanuel, CEO of Endeavor,...
One couldn’t go two feet without shaking hands with an old friend or coming upon a clutch of Hollywood insiders. Old pals Will Ferrell, Owen Wilson and Luke Wilson — the first two movie star incognito in baseball caps — chatted with Lacma director and CEO Michael Govan in front of one booth, while bigwig agents-slash-collectors from Endeavor, CAA and UTA were out in force, some swarming together in packs. Ari Emanuel, CEO of Endeavor,...
- 3/1/2024
- by Hadley Meares
- The Hollywood Reporter - Movie News
Updated with call: Endeavor opted not to take questions on a call with analysts after quarterly earnings today, citing a strategic review process announced last fall.
CEO Ari Emanuel said the process is ongoing to “maximize value for our shareholders” and the company “will provide an update when there is more information to share.”
The full-year/fourth-quarter calls typically focus on guidance and outlook for the current year, which the company didn’t provide given the ongoing review, which seems to indicate it believes some transaction is indeed on the way.
Previous: Endeavor grew revenue 25% last quarter to $1.58 billion, beating forecasts, and shrunk losses to $29 million from $226 million as CEO Ari Emanuel reminded Wall Street that it’s still looking at strategic options – four months after the company said it was evaluating its businesses, and its largest shareholder Silver Lake floated the idea of taking the company private.
The giant...
CEO Ari Emanuel said the process is ongoing to “maximize value for our shareholders” and the company “will provide an update when there is more information to share.”
The full-year/fourth-quarter calls typically focus on guidance and outlook for the current year, which the company didn’t provide given the ongoing review, which seems to indicate it believes some transaction is indeed on the way.
Previous: Endeavor grew revenue 25% last quarter to $1.58 billion, beating forecasts, and shrunk losses to $29 million from $226 million as CEO Ari Emanuel reminded Wall Street that it’s still looking at strategic options – four months after the company said it was evaluating its businesses, and its largest shareholder Silver Lake floated the idea of taking the company private.
The giant...
- 2/28/2024
- by Jill Goldsmith
- Deadline Film + TV
Despite the SAG-AFTRA strike dragging on well into the fourth quarter (not to mention the WGA strike ending just as the quarter began), Endeavor’s representation business (including WME) saw earnings growth in Q4 thanks to the agency’s music, sports and fashion representation segments.
Endeavor disclosed its latest earnings results Wednesday morning, reporting revenue of $1.58 billion, a net loss of $29.3 million, and adjusted Ebitda of $292.8 million.
The representation segment, which includes WME, was up 18.9 percent year over year to $427.4 million, with Endeavor noting that “the impact on segment revenue by the WGA and SAG-AFTRA strikes was more than offset by growth in WME’s music, sports, and fashion divisions, as well as increases at 160over90, licensing, and nonscripted content production content deliveries.”
Meanwhile, Endeavor’s events, experiences and rights segment saw revenue of $414.5 million, down 5 percent year over year, primarily due to last year’s sale of Img Academy.
Endeavor disclosed its latest earnings results Wednesday morning, reporting revenue of $1.58 billion, a net loss of $29.3 million, and adjusted Ebitda of $292.8 million.
The representation segment, which includes WME, was up 18.9 percent year over year to $427.4 million, with Endeavor noting that “the impact on segment revenue by the WGA and SAG-AFTRA strikes was more than offset by growth in WME’s music, sports, and fashion divisions, as well as increases at 160over90, licensing, and nonscripted content production content deliveries.”
Meanwhile, Endeavor’s events, experiences and rights segment saw revenue of $414.5 million, down 5 percent year over year, primarily due to last year’s sale of Img Academy.
- 2/28/2024
- by Alex Weprin
- The Hollywood Reporter - Movie News
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.” The call lasted some 20 minutes as Emanuel and Lublin rehashed the points in Endeavor’s earnings release; Lublin said the company is not providing 2024 financial guidance because of its review of strategic alternatives.
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.” The call lasted some 20 minutes as Emanuel and Lublin rehashed the points in Endeavor’s earnings release; Lublin said the company is not providing 2024 financial guidance because of its review of strategic alternatives.
- 2/28/2024
- by Cynthia Littleton
- Variety Film + TV
Tko Group Holdings exec Mark Shapiro said the company is “on the sideline” waiting to see if former Executive Chairman Vince McMahon will sell any more of his massive stock holding in the company.
Shapiro, who is president and COO of Tko and holds the same title at its majority owner, Endeavor Group Holdings, noted that McMahon still owns about 20 million shares in Tko despite selling more than 8 million last November. The proceeds from that sale exceeded $700 million.
McMahon abruptly exited as board chairman last month after a graphic lawsuit was filed by a former employee, accusing him of sex trafficking and sexual assault. Having built the WWE into a lucrative global business and cultural force over more than four decades, McMahon oversaw the merger of it with the UFC in a $21.4 billion combination that created Tko this year.
“He’ll do whatever he’s going to do, and we’re all on the sideline,...
Shapiro, who is president and COO of Tko and holds the same title at its majority owner, Endeavor Group Holdings, noted that McMahon still owns about 20 million shares in Tko despite selling more than 8 million last November. The proceeds from that sale exceeded $700 million.
McMahon abruptly exited as board chairman last month after a graphic lawsuit was filed by a former employee, accusing him of sex trafficking and sexual assault. Having built the WWE into a lucrative global business and cultural force over more than four decades, McMahon oversaw the merger of it with the UFC in a $21.4 billion combination that created Tko this year.
“He’ll do whatever he’s going to do, and we’re all on the sideline,...
- 2/27/2024
- by Dade Hayes
- Deadline Film + TV
Endeavor-controlled ring sports giant Tko Group Holdings reported $614 million in total revenue in the fourth quarter, along with a slight dip in UFC profits.
It was the first batch of full quarterly operating results for the WWE and UFC parent company and followed a burst of news in January. Within the same week, Tko welcomed Dwayne Johnson to its board of directors, signed a $5 billion rights deal with Netflix and confirmed the exit of longtime WWE patriarch Vince McMahon after a graphic sexual abuse lawsuit was filed by a former employee.
Wall Street analysts will get an opportunity to ask executives about a number of topics, possibly including the potential impact of the McMahon situation, during a quarterly earnings call later on Tuesday.
Adjusted Ebitda at UFC declined to $142.9 million from $154.1 million in the year-ago period, according to the company’s earnings release, with total Ebitda reaching $223.2 million. Revenue at UFC inched up 4% to $282.8 million.
It was the first batch of full quarterly operating results for the WWE and UFC parent company and followed a burst of news in January. Within the same week, Tko welcomed Dwayne Johnson to its board of directors, signed a $5 billion rights deal with Netflix and confirmed the exit of longtime WWE patriarch Vince McMahon after a graphic sexual abuse lawsuit was filed by a former employee.
Wall Street analysts will get an opportunity to ask executives about a number of topics, possibly including the potential impact of the McMahon situation, during a quarterly earnings call later on Tuesday.
Adjusted Ebitda at UFC declined to $142.9 million from $154.1 million in the year-ago period, according to the company’s earnings release, with total Ebitda reaching $223.2 million. Revenue at UFC inched up 4% to $282.8 million.
- 2/27/2024
- by Dade Hayes and Jill Goldsmith
- Deadline Film + TV
In the first full quarter to incorporate WWE earnings since its formation, Tko Group Holdings reported revenue of $614 million and adjusted Ebitda of $223.2 million, laying a roadmap for growth in 2024 and beyond as the company seeks to capitalize on its media rights renewals, as well as live events and sponsorship growth.
Tko was formed last September when Endeavor spun out the UFC and merged it with the WWE. Its first earnings report was in November, with the caveat that it only included numbers from the WWE beginning September 12, 2023.
UFC reported Q4 revenue of $282.2 million, up from $271.1 million a year earlier, while the WWE reported revenue of $331.2 million. The majority of revenues for each brand came from media rights, followed by live events.
The company also released guidance for 2024, telling investors that it is targeting revenue of $2.575 billion to $2.650 billion; adjusted Ebitda of $1.150 billion to $1.170 billion; and free cash flow conversion in excess of 50 percent,...
Tko was formed last September when Endeavor spun out the UFC and merged it with the WWE. Its first earnings report was in November, with the caveat that it only included numbers from the WWE beginning September 12, 2023.
UFC reported Q4 revenue of $282.2 million, up from $271.1 million a year earlier, while the WWE reported revenue of $331.2 million. The majority of revenues for each brand came from media rights, followed by live events.
The company also released guidance for 2024, telling investors that it is targeting revenue of $2.575 billion to $2.650 billion; adjusted Ebitda of $1.150 billion to $1.170 billion; and free cash flow conversion in excess of 50 percent,...
- 2/27/2024
- by Alex Weprin
- The Hollywood Reporter - Movie News
UFC and WWE logged record revenue and sponsorship deals in 2023, which added up to a strong fourth quarter for Tko, the newly formed parent company of both sports brands.
The strong numbers reported for Tko on Tuesday stand in contrast to the controversy that erupted last month when disturbing sexual assault allegations were leveled against former WWE chairman Vince McMahon in a lawsuit by a former WWE employee. McMahon, who was the longtime leader of WWE prior to its September marger with UFC, has strongly denied the claims, but WWE and Tko leaders were quick to distance the company from its longtime leader and majority owner, forcing him to resign as chairman of Tko. McMahon still holds a considerable stake in the company, which was formed last September after the WWE-ufc merger. Endeavor, which reports Q4 earnings on Feb. 28, has majority interest in Tko and consolidates its results.
On a...
The strong numbers reported for Tko on Tuesday stand in contrast to the controversy that erupted last month when disturbing sexual assault allegations were leveled against former WWE chairman Vince McMahon in a lawsuit by a former WWE employee. McMahon, who was the longtime leader of WWE prior to its September marger with UFC, has strongly denied the claims, but WWE and Tko leaders were quick to distance the company from its longtime leader and majority owner, forcing him to resign as chairman of Tko. McMahon still holds a considerable stake in the company, which was formed last September after the WWE-ufc merger. Endeavor, which reports Q4 earnings on Feb. 28, has majority interest in Tko and consolidates its results.
On a...
- 2/27/2024
- by Cynthia Littleton
- Variety Film + TV
Here’s a look at this week’s biggest premieres, parties and openings in Los Angeles and New York, including events for Madame Web, The New Look and Avatar: The Last Airbender.
Santa Barbara International Film Festival
The 10-day festival toasted a star-studded group of honorees including Robert Downey Jr., Lily Gladstone, America Ferrera, Da’Vine Joy Randolph, Billie Eilish, Mark Ruffalo, Martin Scorsese, Justine Triet, Paul Giamatti and Jeffrey Wright.
Cillian Murphy, Robert Downey Jr. and Rob Lowe Greta Lee, Andrew Scott, Charles Melton, America Ferrera, Lily Gladstone and Da’Vine Joy Randolph Finneas and Billie Eilish Mark Ruffalo and Emma Stone Justine Triet and Martin Scorsese Paul Giamatti and Virginia Madsen Jeffrey Wright
Madame Web premiere
Dakota Johnson, Sydney Sweeney, Isabela Merced, Celeste O’Connor, Tahar Rahim, Emma Roberts,
Adam Scott and Zosia Mamet joined writer-director S.J. Clarkson at the Los Angeles premiere of their superhero film on Monday.
Celeste O’Connor,...
Santa Barbara International Film Festival
The 10-day festival toasted a star-studded group of honorees including Robert Downey Jr., Lily Gladstone, America Ferrera, Da’Vine Joy Randolph, Billie Eilish, Mark Ruffalo, Martin Scorsese, Justine Triet, Paul Giamatti and Jeffrey Wright.
Cillian Murphy, Robert Downey Jr. and Rob Lowe Greta Lee, Andrew Scott, Charles Melton, America Ferrera, Lily Gladstone and Da’Vine Joy Randolph Finneas and Billie Eilish Mark Ruffalo and Emma Stone Justine Triet and Martin Scorsese Paul Giamatti and Virginia Madsen Jeffrey Wright
Madame Web premiere
Dakota Johnson, Sydney Sweeney, Isabela Merced, Celeste O’Connor, Tahar Rahim, Emma Roberts,
Adam Scott and Zosia Mamet joined writer-director S.J. Clarkson at the Los Angeles premiere of their superhero film on Monday.
Celeste O’Connor,...
- 2/16/2024
- by Kirsten Chuba
- The Hollywood Reporter - Movie News
The upcoming Road House remake looks to be one of Amazon’s biggest movies of the year, but according to Variety, there has been some major drama brewing behind the scenes for several years, all to do with whether to release the movie theatrically or on streaming.
Road House will debut on Prime Video next month, but the lack of a theatrical release has caused some acrimony. When director Doug Liman first signed on to direct the movie, Michael de Luca and Pam Abdy were in charge of MGM at the time, and the intention was that Road House would be developed for the big screen, but that all changed when Amazon acquired MGM for a cool $8.5 billion. De Luca and Abdy left for Warner Bros., but Amazon Studios chief Jennifer Salke took charge of Road House and was set to give it the green light… but there was one important choice to be made.
Road House will debut on Prime Video next month, but the lack of a theatrical release has caused some acrimony. When director Doug Liman first signed on to direct the movie, Michael de Luca and Pam Abdy were in charge of MGM at the time, and the intention was that Road House would be developed for the big screen, but that all changed when Amazon acquired MGM for a cool $8.5 billion. De Luca and Abdy left for Warner Bros., but Amazon Studios chief Jennifer Salke took charge of Road House and was set to give it the green light… but there was one important choice to be made.
- 2/14/2024
- by Kevin Fraser
- JoBlo.com
Hollywood loves a bare-knuckle brawl. And the town got a battle royal with “Road House.”
The reboot of the 1989 cult favorite, which launches on Amazon Prime on March 21, sparked a fierce fight behind the scenes over its release. While studio-filmmaker standoffs are not uncommon, this one featured such subplots as the involvement of a notorious private investigator, a producer given the heave-ho, a cameo from Ari Emanuel and a director going scorched-earth. Even more shocking, some of the embarrassing details began to publicly spill out in recent months, culminating with director Doug Liman promising to boycott the film’s premiere at SXSW on March 8.
Despite the drama, the movie is expected to be one of Amazon Prime’s most-watched films this year. So how did things go wrong?
In November 2021, Mike De Luca and Pam Abdy were running MGM and began negotiating with Liman to direct and Jake Gyllenhaal to star as the tough-guy bouncer,...
The reboot of the 1989 cult favorite, which launches on Amazon Prime on March 21, sparked a fierce fight behind the scenes over its release. While studio-filmmaker standoffs are not uncommon, this one featured such subplots as the involvement of a notorious private investigator, a producer given the heave-ho, a cameo from Ari Emanuel and a director going scorched-earth. Even more shocking, some of the embarrassing details began to publicly spill out in recent months, culminating with director Doug Liman promising to boycott the film’s premiere at SXSW on March 8.
Despite the drama, the movie is expected to be one of Amazon Prime’s most-watched films this year. So how did things go wrong?
In November 2021, Mike De Luca and Pam Abdy were running MGM and began negotiating with Liman to direct and Jake Gyllenhaal to star as the tough-guy bouncer,...
- 2/14/2024
- by Tatiana Siegel
- Variety Film + TV
This is going to stun anyone who grew up on 21st century superhero cinema (which kicked off in 2000 with Bryan Singer's "X-Men" and only now seems to be on the wane), but what if I told you that in the 1970s, there were television series dedicated to the Hulk, Wonder Woman, and Spider-Man, and they weren't the main small-screen pop cultural obsessions for sci-fi/fantasy fans? Not even close.
This is because every kid in America was crazy about "The Six Million Dollar Man."
Based on the novel "Cyborg" by Martin Caidin, "The Six Million Dollar Man" starred Lee Majors as astronaut Steve Austin, who's saved from certain death after the crash of an experimental aircraft when he is transformed into an experimental superhuman being via bionic implants. As the show's opening credits reminded us every week, these scientists made Majors "bigger, stronger, faster." He was as powerful as a bulldozer,...
This is because every kid in America was crazy about "The Six Million Dollar Man."
Based on the novel "Cyborg" by Martin Caidin, "The Six Million Dollar Man" starred Lee Majors as astronaut Steve Austin, who's saved from certain death after the crash of an experimental aircraft when he is transformed into an experimental superhuman being via bionic implants. As the show's opening credits reminded us every week, these scientists made Majors "bigger, stronger, faster." He was as powerful as a bulldozer,...
- 2/13/2024
- by Jeremy Smith
- Slash Film
When Vince McMahon stepped into the New York Stock Exchange on Jan. 23, he was on hand to celebrate what was supposed to be a triumph for Tko Group Holdings, the company for which he was executive chairman, and the owner of the WWE, the wrestling promotion that McMahon turned into a multibillion-dollar business.
Earlier that morning the WWE announced a blockbuster 10-year, $5 billion deal with Netflix to stream Raw in the U.S. and almost all of its other live programming in other markets around the world. And Dwayne “The Rock” Johnson, one of the WWE’s biggest stars — turned global movie star — was set to ring the opening bell, in connection with an agreement to join Tko’s board of directors.
Speaking to attendees in the NYSE’s ornate 6th floor board room that morning, Johnson accepted a gold Tko championship belt from McMahon and Tko CEO Ari Emanuel.
Earlier that morning the WWE announced a blockbuster 10-year, $5 billion deal with Netflix to stream Raw in the U.S. and almost all of its other live programming in other markets around the world. And Dwayne “The Rock” Johnson, one of the WWE’s biggest stars — turned global movie star — was set to ring the opening bell, in connection with an agreement to join Tko’s board of directors.
Speaking to attendees in the NYSE’s ornate 6th floor board room that morning, Johnson accepted a gold Tko championship belt from McMahon and Tko CEO Ari Emanuel.
- 2/7/2024
- by Alex Weprin
- The Hollywood Reporter - Movie News
Following a suit Thursday asserting that Vince McMahon sexally assaulted and trafficked former WWE employee Janel Grant, the WWE founder has resigned from his role as chairman of parent company Tko Group Holdings, according to an email from WWE president Nick Khan shared with TheWrap. Tko Group was created as the new parent company of WWE in its merger last year with UFC.
“I wanted to inform you that Vince McMahon has tendered his resignation from his positions as Tko Executive Chairman and on the Tko Board of Directors,” Khan wrote in an email to staff on Friday. “He will no longer have a role with Tko Group Holdings or WWE.”
“I stand by my prior statement that Ms. Grant’s lawsuit is replete with lies, obscene made-up instances that never occurred, and is a vindictive distortion of the truth,” McMahon said in a statement. “I intend to vigorously defend myself against these baseless accusations,...
“I wanted to inform you that Vince McMahon has tendered his resignation from his positions as Tko Executive Chairman and on the Tko Board of Directors,” Khan wrote in an email to staff on Friday. “He will no longer have a role with Tko Group Holdings or WWE.”
“I stand by my prior statement that Ms. Grant’s lawsuit is replete with lies, obscene made-up instances that never occurred, and is a vindictive distortion of the truth,” McMahon said in a statement. “I intend to vigorously defend myself against these baseless accusations,...
- 1/27/2024
- by Mike Roe
- The Wrap
Exclusive: Slammed by allegations of rape, defecation, sex trafficking and more, Vince McMahon is out at WWE and UFC parent company Tko Group Holdings.
“I stand by my prior statement that Ms. Grant’s lawsuit is replete with lies, obscene made-up instances that never occurred, and is a vindictive distortion of the truth,” McMahon said this evening of the scorching lawsuit against him filed earlier this week. “I intend to vigorously defend myself against these baseless accusations, and look forward to clearing my name.”
“However, out of respect for the WWE Universe, the extraordinary Tko business and its board members and shareholders, partners and constituents, and all of the employees and Superstars who helped make WWE into the global leader it is today, I have decided to resign from my executive chairmanship and the Tko board of directors, effective immediately,” the WWE co-founder added.
McMahon’s abrupt exit was spawned...
“I stand by my prior statement that Ms. Grant’s lawsuit is replete with lies, obscene made-up instances that never occurred, and is a vindictive distortion of the truth,” McMahon said this evening of the scorching lawsuit against him filed earlier this week. “I intend to vigorously defend myself against these baseless accusations, and look forward to clearing my name.”
“However, out of respect for the WWE Universe, the extraordinary Tko business and its board members and shareholders, partners and constituents, and all of the employees and Superstars who helped make WWE into the global leader it is today, I have decided to resign from my executive chairmanship and the Tko board of directors, effective immediately,” the WWE co-founder added.
McMahon’s abrupt exit was spawned...
- 1/27/2024
- by Dominic Patten
- Deadline Film + TV
Longtime WWE advertising partner Slim Jim has paused its sponsorship with the wrestling promotion following “disturbing allegations” unveiled in a lawsuit Thursday against WWE founder and board chair Vince McMahon. The announcement comes ahead of this Saturday’s Royal Rumble, one of WWE’s biggest events of the year.
“Slim Jim values integrity and respect in all of our partnerships. Given the recent disturbing allegations against Vince McMahon, at this time we’ve decided to pause our promotional activities with WWE,” the company said in a statement. “This decision reflects our commitment to our brand values and responsibility to our community.”
They added that they “will continue to monitor the situation and base our future engagements on our values and what’s best for our brand.”
The current Slim Jim sponsorship was touted by the companies as the “largest sponsorship deal in WWE history” last August, kicking off with sponsorship around the SummerSlam event.
“Slim Jim values integrity and respect in all of our partnerships. Given the recent disturbing allegations against Vince McMahon, at this time we’ve decided to pause our promotional activities with WWE,” the company said in a statement. “This decision reflects our commitment to our brand values and responsibility to our community.”
They added that they “will continue to monitor the situation and base our future engagements on our values and what’s best for our brand.”
The current Slim Jim sponsorship was touted by the companies as the “largest sponsorship deal in WWE history” last August, kicking off with sponsorship around the SummerSlam event.
- 1/27/2024
- by Mike Roe
- The Wrap
Editor’s note: This post contain extremely sexually explicit details from the lawsuit against WWE founder Vince McMahon.
Updated, 1:51 Pm: Following a harrowing sexual assault and sex-trafficking lawsuit filed Thursday against Vince McMahon and World Wrestling Entertainment by a former WWE staff member, the wrestling mogul and current WWE owners Tko Group Holdings have broken their silence on the grisly claims.
“This lawsuit is replete with lies, obscene made-up instances that never occurred, and a vindictive distortion of the truth,” a spokesman for McMahon said today. “He will vigorously defend himself.”
“Mr. McMahon does not control Tko nor does he oversee the day-to-day operations of WWE,” a Tko spokesperson told Deadline this afternoon regarding the company’s Executive Chairman. “While this matter pre-dates our Tko executive team’s tenure at the company, we take Ms. Grant’s horrific allegations very seriously and are addressing this matter internally.”
The statement...
Updated, 1:51 Pm: Following a harrowing sexual assault and sex-trafficking lawsuit filed Thursday against Vince McMahon and World Wrestling Entertainment by a former WWE staff member, the wrestling mogul and current WWE owners Tko Group Holdings have broken their silence on the grisly claims.
“This lawsuit is replete with lies, obscene made-up instances that never occurred, and a vindictive distortion of the truth,” a spokesman for McMahon said today. “He will vigorously defend himself.”
“Mr. McMahon does not control Tko nor does he oversee the day-to-day operations of WWE,” a Tko spokesperson told Deadline this afternoon regarding the company’s Executive Chairman. “While this matter pre-dates our Tko executive team’s tenure at the company, we take Ms. Grant’s horrific allegations very seriously and are addressing this matter internally.”
The statement...
- 1/25/2024
- by Dominic Patten
- Deadline Film + TV
Updated: Dwayne Johnson has joined the board of directors of Tko Group Holdings, Inc., the company formed by Endeavor that merged WWE and the UFC.
Johnson, one of the most popular actors and media personalities on the planet, broke out as a star for WWE (then WWF) in the 1990s and early 2000s. He held multiple world championships in his time with the pro wrestling juggernaut and is widely regarded as one of the greatest professional wrestlers of all time.
“I am thrilled to partner with Dwayne and welcome his immense talent to Tko’s Board,” said Ariel Emanuel, CEO of Tko. “Dwayne brings an incredible track record of creating content and building globally recognized consumer brands, and he will play a key role in realizing our ambitions for Tko.”
WWE added that it has also entered into a services and merchandising agreement with Johnson. Under that agreement, Johnson will provide promotional,...
Johnson, one of the most popular actors and media personalities on the planet, broke out as a star for WWE (then WWF) in the 1990s and early 2000s. He held multiple world championships in his time with the pro wrestling juggernaut and is widely regarded as one of the greatest professional wrestlers of all time.
“I am thrilled to partner with Dwayne and welcome his immense talent to Tko’s Board,” said Ariel Emanuel, CEO of Tko. “Dwayne brings an incredible track record of creating content and building globally recognized consumer brands, and he will play a key role in realizing our ambitions for Tko.”
WWE added that it has also entered into a services and merchandising agreement with Johnson. Under that agreement, Johnson will provide promotional,...
- 1/23/2024
- by Joe Otterson
- Variety Film + TV
Ye, the rapper formerly known as Kanye West, has issued a statement in Hebrew on his Instagram expressing regret over his antisemitic comments over the past year.
That includes recent statements allegedly made in Las Vegas earlier this month, and caught by live streamers in attendance, invoking Hitler and Jesus Christ alongside himself, and addressing his loss of brand sponsorships and partnerships during a Vultures album event, as reported by Rolling Stone.
Set to release on Jan. 12, the album’s title track, which features Ty Dolla $ign, Lil Durk and Bump J, seemingly addresses previous criticism of Ye, with the rapper stating, “How I’m antisemitic? I just fucked a Jewish bitch.”
Ye, who deleted all his previous Instagram posts leaving only his recent apology, wrote on Tuesday that he regretted his “unplanned outburst,” seemingly alluding to the Vegas event, as translated by The Jerusalem Post.
“I sincerely apologize to...
That includes recent statements allegedly made in Las Vegas earlier this month, and caught by live streamers in attendance, invoking Hitler and Jesus Christ alongside himself, and addressing his loss of brand sponsorships and partnerships during a Vultures album event, as reported by Rolling Stone.
Set to release on Jan. 12, the album’s title track, which features Ty Dolla $ign, Lil Durk and Bump J, seemingly addresses previous criticism of Ye, with the rapper stating, “How I’m antisemitic? I just fucked a Jewish bitch.”
Ye, who deleted all his previous Instagram posts leaving only his recent apology, wrote on Tuesday that he regretted his “unplanned outburst,” seemingly alluding to the Vegas event, as translated by The Jerusalem Post.
“I sincerely apologize to...
- 12/26/2023
- by Abbey White
- The Hollywood Reporter - Movie News
2024 can’t come fast enough.
When the clock strikes midnight on Jan. 1, Hollywood will close the book on arguably the most tumultuous 12 months in a generation, with the town roiled by devastating strikes, the implosion of the superhero movie and deep divisions on everything from AI to Israel. But as Tinseltown ushers in a new year, will it suffer from a monster hangover? Many of the most vexing issues remain unresolved.
“There’s a huge leadership vacuum, and that’s not about to change,” says Michael Nathanson, the former head of MGM Studios and Columbia Pictures.
Nathanson, who started in the film and TV business in the ’70s, notes that Lew Wasserman, Bob Daly and Mike Ovitz commanded respect and fear, and could galvanize the industry in chaotic times like writers and actors strikes.
“Bob Iger is not really that guy anymore. If he hadn’t left [in 2020] and returned, he would be that guy,...
When the clock strikes midnight on Jan. 1, Hollywood will close the book on arguably the most tumultuous 12 months in a generation, with the town roiled by devastating strikes, the implosion of the superhero movie and deep divisions on everything from AI to Israel. But as Tinseltown ushers in a new year, will it suffer from a monster hangover? Many of the most vexing issues remain unresolved.
“There’s a huge leadership vacuum, and that’s not about to change,” says Michael Nathanson, the former head of MGM Studios and Columbia Pictures.
Nathanson, who started in the film and TV business in the ’70s, notes that Lew Wasserman, Bob Daly and Mike Ovitz commanded respect and fear, and could galvanize the industry in chaotic times like writers and actors strikes.
“Bob Iger is not really that guy anymore. If he hadn’t left [in 2020] and returned, he would be that guy,...
- 12/20/2023
- by Tatiana Siegel
- Variety Film + TV
Exclusive: Two months after Julia Ormond sued CAA, Disney and Harvey Weinstein for negligence, breach of fiduciary duty, battery and more over an alleged 1995 sexual assault by the now incarcerated Weinstein, the agency and the Bob Iger-led corporation say they shouldn’t be a part of the suit and want out.
“Accepting the allegations in the Complaint as true, Harvey Weinstein’s alleged misconduct is disturbing and deplorable,” a filing Tuesday by Disney’s New York lawyers Cravath, Swaine & Moore asserts of Ormond’s October 4 complaint. “But the question is whether Plaintiff’s allegations are sufficient to state a claim for negligent supervision against Twdc,” it adds, in respect to the company’s ownership of the Weinstein’s’ Miramax from 1993-2010.
“They are not, with respect to any of the four elements of that cause of action. Therefore, Twdc respectfully requests that the single claim against it be...
“Accepting the allegations in the Complaint as true, Harvey Weinstein’s alleged misconduct is disturbing and deplorable,” a filing Tuesday by Disney’s New York lawyers Cravath, Swaine & Moore asserts of Ormond’s October 4 complaint. “But the question is whether Plaintiff’s allegations are sufficient to state a claim for negligent supervision against Twdc,” it adds, in respect to the company’s ownership of the Weinstein’s’ Miramax from 1993-2010.
“They are not, with respect to any of the four elements of that cause of action. Therefore, Twdc respectfully requests that the single claim against it be...
- 12/19/2023
- by Dominic Patten
- Deadline Film + TV
18 months after being filed, a Los Angeles Superior Court judge has shut down a lawsuit accusing Endeavor of intellectual property theft.
In the lawsuit, originally filed in March of 2022, consultant David Carde accused Endeavor of stealing an anlysis of the company that he sent,m unsolicited to CEO Ari Emanuel in 2019 after Endeavor’s recent failed IPO. Carde claimed his analysis led directly to the company’s $10.3 billion IPO in the spring of 2021, and that he hadn’t been credited or compensated.
However, in a ruling issued Dec. 12 and unsealed Friday, Judge Gregory Keosian shot all of that down. In his dismissal of the suit, Keosian wrote, “none of plaintiff’s unique concepts appear in any of Endeavor’s materials, and every single idea plaintiff claims was ‘stolen’ was actually made public by Endeavor long before plaintiff even wrote the Essay. Summary judgment accordingly must be entered in favor of Endeavor.
In the lawsuit, originally filed in March of 2022, consultant David Carde accused Endeavor of stealing an anlysis of the company that he sent,m unsolicited to CEO Ari Emanuel in 2019 after Endeavor’s recent failed IPO. Carde claimed his analysis led directly to the company’s $10.3 billion IPO in the spring of 2021, and that he hadn’t been credited or compensated.
However, in a ruling issued Dec. 12 and unsealed Friday, Judge Gregory Keosian shot all of that down. In his dismissal of the suit, Keosian wrote, “none of plaintiff’s unique concepts appear in any of Endeavor’s materials, and every single idea plaintiff claims was ‘stolen’ was actually made public by Endeavor long before plaintiff even wrote the Essay. Summary judgment accordingly must be entered in favor of Endeavor.
- 12/19/2023
- by Ross A. Lincoln
- The Wrap
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