Endeavor Sees Revenue and Expenses Rise in Q3; Wall Streeters Set to Press Execs on Asset Sales and Going Private
variety.comCynthia Littleton Business Editor In the quarter that included the marriage of UFC and WWE under the TKO Group umbrella, Endeavor saw its Q3 revenue rise despite headwinds from Hollywood strikes and other market conditions, but operating expenses climbed even more.
Endeavor’s conference call with analysts today is expected to give Wall Streeters a chance to grill company executives, including CEO Ari Emanuel and Mark Shapiro, president and chief operating officer, on the news earlier this month that Endeavor is considering “strategic alternatives” for some of its businesses.
Controlling shareholder Silver Lake, meanwhile, has said it intends to take the company private. “Silver Lake firmly believes in Endeavor’s business and is not interested in selling its shares in Endeavor to a third-party nor in entertaining bids for assets that are a part of Endeavor,” the private equity firm said on Oct.
25. Endeavor’s quarter was once again paced by its Owned Sports Properties, the unit that houses its 51% holdings in TKO Group. (TKO delivered its first quarterly earnings report since its Sept.
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