UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 | Regulation FD Disclosure. |
On June 28, 2023, Endeavor Group Holdings, Inc., a Delaware corporation (“Endeavor”), issued a press release announcing the closing of the Transaction (as defined below) involving the sale of IMG Academy (as defined below) for an enterprise value of $1.25 billion. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
The information contained under Item 7.01 of this Current Report on Form 8-K (including Exhibit 99.1), shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act except as may be expressly set forth by specific reference in such filing.
Item 8.01 | Other Events. |
On June 28, 2023, Endeavor closed its previously announced sale of all of the issued and outstanding Class A Units of IMG Academy Parent, LLC, a Delaware limited liability company (“IMG Academy”), to Acorn Holdco, Inc., a Delaware corporation, in exchange for aggregate cash proceeds of approximately $1.1 billion (the “Transaction”).
Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
Exhibit |
Description | |
99.1 | Press Release, dated June 28, 2023 | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
ENDEAVOR GROUP HOLDINGS, INC. | ||
By: | /s/ Jason Lublin | |
Name: | Jason Lublin | |
Title: | Chief Financial Officer |
Date: June 28, 2023
Exhibit 99.1
Endeavor Completes Sale of IMG Academy to BPEA EQT, in Partnership with Nord Anglia Education
Beverly Hills, CA (June 28, 2023) Endeavor Group Holdings, Inc. (NYSE: EDR), a global sports and entertainment company, announced today the closing of its sale of IMG Academy, a leading global sports education institution, to BPEA EQT in an all-cash deal reflecting an enterprise value of $1.25 billion.
IMG Academy will continue to operate under the IMG Academy brand with Brent Richard as President of IMG Academy, Tim Pernetti as President of IMG Academy Bradenton, Lisa Strasman as President of NCSA, and Ted Sullivan as Chief Growth Officer.
About Endeavor
Endeavor is a global sports and entertainment company, home to many of the worlds most dynamic and engaging storytellers, brands, live events and experiences. The company is comprised of industry leaders including entertainment agency WME; sports, fashion, events and media company IMG; and premier mixed martial arts organization UFC. The Endeavor network specializes in talent representation, sports operations & advisory, event & experiences management, media production & distribution, experiential marketing and brand licensing.
Website Disclosure
Investors and others should note that we announce material financial and operational information to our investors using press releases, SEC filings and public conference calls webcasts, as well as our Investor Relations site at investor.endeavorco.com. Endeavor may also use its website as a distribution channel of material Company information. In addition, you may automatically receive email alerts and other information about Endeavor when you enroll your email address by visiting the Investor Email Alerts option under the Resources tab on investor.endeavorco.com.
Press
Maura McGreevy
press@endeavorco.com
Document and Entity Information |
Jun. 28, 2023 |
---|---|
Cover [Abstract] | |
Amendment Flag | false |
Entity Central Index Key | 0001766363 |
Document Type | 8-K |
Document Period End Date | Jun. 28, 2023 |
Entity Registrant Name | Endeavor Group Holdings, Inc. |
Entity Incorporation State Country Code | DE |
Entity File Number | 001-40373 |
Entity Tax Identification Number | 83-3340169 |
Entity Address, Address Line One | 9601 Wilshire Boulevard |
Entity Address, Address Line Two | 3rd Floor |
Entity Address, City or Town | Beverly Hills |
Entity Address, State or Province | CA |
Entity Address, Postal Zip Code | 90210 |
City Area Code | (310) |
Local Phone Number | 285-9000 |
Written Communications | false |
Soliciting Material | false |
Pre Commencement Tender Offer | false |
Pre Commencement Issuer Tender Offer | false |
Security 12b Title | Class A Common Stock, $0.00001 par value per share |
Trading Symbol | EDR |
Security Exchange Name | NYSE |
Entity Emerging Growth Company | false |
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