Endeavor And WWE Deal To Create TKO Group Holdings Expected To Close September 12; Upon Close, TKO Will List On New York Stock Exchange, Begin Public Trading Under The Ticker Symbol "TKO"

9/7/23 8:02:41 AM ET

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Upon close, TKO will list on New York Stock Exchange, begin public trading

Endeavor Group Holdings, Inc. (NYSE:EDR) ("Endeavor") and World Wrestling Entertainment, Inc. (NYSE:WWE) ("WWE") today announced they expect to close the previously announced transaction to form TKO Group Holdings, Inc. ("TKO") on September 12, 2023, at which time TKO will begin trading on the New York Stock Exchange under the ticker symbol "TKO".

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Company	Date	Price Target	Rating	Analyst
Endeavor Group Holdings Inc. $EDR	4/15/2024	$27.50	Buy → Neutral	Citigroup
Endeavor Group Holdings Inc. $EDR	9/12/2023	$28.00	Outperform	TD Cowen
Endeavor Group Holdings Inc. $EDR	5/1/2023	$33.00	Buy	Guggenheim
World Wrestling Entertainment Inc. $WWE	4/24/2023		Neutral	Seaport Research Partners
Endeavor Group Holdings Inc. $EDR	4/24/2023	$30.00	Buy	Seaport Research Partners
World Wrestling Entertainment Inc. $WWE	4/13/2023	$105.00 → $120.00	Equal-Weight → Overweight	Morgan Stanley
World Wrestling Entertainment Inc. $WWE	4/4/2023		Buy → Hold	The Benchmark Company
World Wrestling Entertainment Inc. $WWE	1/31/2023		Outperform → Peer Perform	Wolfe Research

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Endeavor Announces Management Buyout of OpenBet and IMG ARENA
Endeavor Group Holdings, Inc. (NYSE:EDR) ("Endeavor" or the "Company"), a global sports and entertainment company, today announced that it has agreed to sell OpenBet and IMG ARENA to OB Global Holdings LLC in a management buyout backed by Ariel Emanuel with participation from executives of OpenBet, including CEO Jordan Levin. Levin said: "This management buyout allows us to continue executing our vision for increased market expansion and product innovation. Our group is extremely confident in OpenBet's future considering the premium product offering, superior talent, and solid foundation we already have in place following a strong period of business growth." Under the terms of the trans
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Endeavor Releases Third Quarter 2024 Results
Endeavor Group Holdings, Inc. (NYSE:EDR) ("Endeavor" or the "Company"), a global sports and entertainment company, today released its financial results for the quarterly period ended September 30, 2024. Highlights $2.032 billion in Q3 2024 revenue Growth across Owned Sports Properties driven by strong revenue performance at WWE, as well as increases in media rights at Professional Bull Riders ("PBR") Strength within Representation segment driven by growth in WME's music and talent groups, reflecting continued consumer demand for live music and ongoing recovery following resolution of the WGA and SAG-AFTRA strikes Q3 2024 Consolidated Financial Results Revenue: $2.032 billion Ne
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TKO Reports Third Quarter 2024 Results
Updates Full Year 2024 Guidance Announces Credit Facility Refinancing TKO Transaction Highlights On September 12, 2023, Endeavor and WWE closed the transaction to combine UFC and WWE to form a new, publicly listed company, TKO Group Holdings, Inc. Reported results presented in this earnings release prior to September 12, 2023 reflect only UFC activity. Third Quarter 2024 Financial Highlights Revenue of $681.2 million Net income of $57.7 million Adjusted EBITDA1 of $310.0 million Full Year 2024 Guidance The Company revised its target for revenue to the upper end of the range of $2.670 billion to $2.745 billion The Company revised its target for Adjusted EBITDA to the upper en
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EverPass Media Acquires UPshow, Allowing NFL Sunday Ticket to be Streamed at Commercial Businesses for the First Time Ever
UPshow brings immediate streaming solution to EverPass' commercial-focused media platform TKO Group Holdings invests in EverPass; Mark Shapiro, President and Chief Operating Officer of TKO, joins EverPass Board alongside representatives from 32 Equity and RedBird Capital EverPass Media, a leading media platform for distribution of premium live sports and entertainment content to commercial businesses, today announced it has acquired UPshow, a leading on-premise entertainment and performance marketing platform. The acquisition further accelerates EverPass' business model, adding essential streaming, consumer engagement, and performance marketing capabilities to its IP-based content libra
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TKO Appoints Brad Keywell to Board of Directors
TKO Group Holdings, Inc. (NYSE:TKO) ("TKO"), a premium sports and entertainment company, has appointed Brad Keywell to its Board of Directors, effective today. Keywell, an accomplished entrepreneur with deep expertise in technology and artificial intelligence, brings significant experience in innovation and industry disruption to the Board. He has co-founded and led multiple companies, including Groupon, Echo Global Logistics, MediaOcean, and Uptake Technologies, where he is currently Founder and Executive Chairman. He is the 2019 EY World Entrepreneur of the Year, only the third US entrepreneur ever to receive the global honor, in addition to being named the overall 2018 EY Entrepreneur
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TKO Appoints Dwayne Johnson to Board of Directors
Johnson Granted Full Ownership of Trademarked Name, "The Rock" TKO Group Holdings, Inc. (NYSE:TKO) ("TKO"), a premium sports and entertainment company, has appointed Dwayne Johnson to its Board of Directors, effective today. Johnson, one of the most decorated WWE Superstars in company history and the most followed American man globally on social media platforms, brings decades of experience in live entertainment and sports to the Board. Through his expansive business portfolio, which includes Seven Bucks Productions, Teremana Tequila, ZOA Energy, Project Rock, and the recently combined spring football league, the United Football League (UFL), Johnson has significant experience identifyi
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Endeavor Releases Third Quarter 2024 Results
Endeavor Group Holdings, Inc. (NYSE:EDR) ("Endeavor" or the "Company"), a global sports and entertainment company, today released its financial results for the quarterly period ended September 30, 2024. Highlights $2.032 billion in Q3 2024 revenue Growth across Owned Sports Properties driven by strong revenue performance at WWE, as well as increases in media rights at Professional Bull Riders ("PBR") Strength within Representation segment driven by growth in WME's music and talent groups, reflecting continued consumer demand for live music and ongoing recovery following resolution of the WGA and SAG-AFTRA strikes Q3 2024 Consolidated Financial Results Revenue: $2.032 billion Ne
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TKO Reports Third Quarter 2024 Results
Updates Full Year 2024 Guidance Announces Credit Facility Refinancing TKO Transaction Highlights On September 12, 2023, Endeavor and WWE closed the transaction to combine UFC and WWE to form a new, publicly listed company, TKO Group Holdings, Inc. Reported results presented in this earnings release prior to September 12, 2023 reflect only UFC activity. Third Quarter 2024 Financial Highlights Revenue of $681.2 million Net income of $57.7 million Adjusted EBITDA1 of $310.0 million Full Year 2024 Guidance The Company revised its target for revenue to the upper end of the range of $2.670 billion to $2.745 billion The Company revised its target for Adjusted EBITDA to the upper en
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TKO Announces Approval of Capital Return Program; Also Announces Strategic Acquisition of Sports Assets From Endeavor
Board Authorized $2 Billion Share Repurchase Program and Approved Initiation of Quarterly Cash Dividend Program of $75 Million All-Equity Transaction Includes Professional Bull Riders, On Location, and IMG Special Committee of TKO's Independent Directors Unanimously Recommended Approval of Transaction TKO Group Holdings, Inc. ("TKO") (NYSE:TKO), a premium sports and entertainment company, announced today that its board of directors has authorized a share repurchase program of up to $2.0 billion of its Class A common stock and the initiation of a quarterly cash dividend program pursuant to which holders of TKO's Class A common stock will receive their pro rata share of $75.0 million in qu
10/24/24 6:50:00 AM ET
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Endeavor And WWE Deal To Create TKO Group Holdings Expected To Close September 12; Upon Close, TKO Will List On New York Stock Exchange, Begin Public Trading Under The Ticker Symbol "TKO"

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$EDR$WWE Large Ownership Changes

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Amendment: SEC Form SC 13G/A filed by Endeavor Group Holdings Inc.

Amendment: SEC Form SC 13D/A filed by Endeavor Group Holdings Inc.

SEC Form SC 13G filed by Endeavor Group Holdings Inc.

$EDR$WWE SEC Filings

Endeavor Group Holdings Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation

SEC Form 10-Q filed by Endeavor Group Holdings Inc.

SEC Form 8-K filed by Endeavor Group Holdings Inc.

$EDR$WWE Press Releases

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Endeavor Announces Management Buyout of OpenBet and IMG ARENA

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Endeavor Group downgraded by Citigroup with a new price target

TD Cowen initiated coverage on Endeavor Group with a new price target

Guggenheim initiated coverage on Endeavor Group with a new price target

EverPass Media Acquires UPshow, Allowing NFL Sunday Ticket to be Streamed at Commercial Businesses for the First Time Ever

TKO Appoints Brad Keywell to Board of Directors

TKO Appoints Dwayne Johnson to Board of Directors

Executive Chairman Whitesell Patrick returned 48,176 units of Class X Common Stock to the company and returned 48,176 units of Class Y Common Stock to the company (SEC Form 4)

Large owner Endeavor Executive Holdco, Llc returned 48,176 units of Class X Common Stock to the company and returned 48,176 units of Class Y Common Stock to the company, decreasing direct ownership by 0.17% to 27,498,450 units (SEC Form 4)

Chief Executive Officer Emanuel Ariel returned 48,176 units of Class Y Common Stock to the company, converted options into 48,176 shares, sold $1,399,031 worth of shares (48,176 units at $29.04) and returned 48,176 units of Class X Common Stock to the company (SEC Form 4)

Director Durban Egon bought 468,105 units of Class Y Common Stock (SEC Form 4)

Endeavor Gr Hldgs Q1 2024 GAAP EPS $(0.46) Misses $0.13 Estimate, Sales $1.850B Miss $1.892B Estimate

Citigroup Downgrades Endeavor Gr Hldgs to Neutral, Lowers Price Target to $27.5

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Endeavor Releases Third Quarter 2024 Results

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