Endeavor
Endeavor Sued For Allegedly Stealing Marketing Ideas for IPO Effort
A consultant is suing Endeavor claiming he gave the company the blueprint to salvage its debut on the public market, which led to a successful $10.3 billion IPO, but he wasn’t compensated or given credit. David Carde began his complaint, which was filed Thursday in L.A. County Superior Court, by comparing this alleged theft to when the founders of Endeavor left ICM in 1995 and in the middle of the night “stole a bunch of client files and stuffed them into a SUV parked by a freight elevator.” “Following the embarrassment of the failed first IPO, Endeavor’s crushing debt became an existential threat after the COVID pandemic ground the Company’s business to a halt,” reads the complaint, which is embedded below. “However, once Endeavor stole and then embraced Mr. Carde’s approach of communicat...
Endeavor CEO Ari Emanuel Says ‘No’ to Buying UTA
He also said that the deal “validated” Endeavor’s strategy when it merged with WMA. “They are just coming to it 13 years later … Mazel tov,” he added. He also defended Endeavor’s representation business, pushing back against the notion that the company is ignoring it in favor of UFC or its other ventures. “I would say to you, we are the largest agency,” Emanuel said. “Our representation business, for the last 10 or 11 years, has grown double digits every year for 10 years. It is a very significant part of our business, and it is the core feeder for how our business grows.” He also argued that Endeavor continues to be important to its clients, particularly as the number of streaming services continue to grow, and as the power of ce...
Endeavor Lines Up $260 Million Loan Amid Cost-Cutting Efforts
Endeavor has lined up a $260 million term loan to boost its financial flexibility amid the novel coronavirus pandemic, The Hollywood Reporter has confirmed. The financing deal adds to an existing $2.8 billion term loan at a time when Endeavor’s live events operations, which include Ultimate Fighting Championship, in which the firm owns a majority stake, and entertainment business have been hit by the pandemic. The Wall Street Journal first reported the additional $260 million loan Monday. Endeavor — the parent company of talent agency WME, modeling agency IMG and Professional Bull Riders — has launched cost-cutting efforts amid the pandemic, including layoffs, pay cuts and furloughs. UFC held its first of several fight cards without fans Saturday. &...
