Endeavor, the owner of WME, IMG and a majority stake in TKO Group, is going to test the market.
The company said Wednesday that it is initiating “a formal review to evaluate strategic alternatives for the Company.” Endeavor adds that it is not considering a sale of its stake in TKO.
“Given the continued dislocation between Endeavor’s public market value and the intrinsic value of Endeavor’s underlying assets, we believe an evaluation of strategic alternatives is a prudent approach to ensure we are maximizing value for our shareholders,” said Endeavor CEO Ari Emanuel in a statement.
More to come.
