Leading Entertainment Company CJ ENM to Acquire Controlling Stake in Global Premium Content Studio ‘Endeavor Content’ for $775 Million USD
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Friday, November 19, 2021
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CJ ENM, leading entertainment company originated from Korea, announced that they have entered into a definitive agreement to acquire an 80% stake of the scripted business of U.S.-based global premium content studio, Endeavor Content, from its parent company Endeavor Group Holdings (Endeavor)(NYSE: EDR) for $775 million USD in total proceeds at an enterprise valuation of $850 million USD, including $655 million USD to Endeavor and a contribution of $120 million USD of capital to Endeavor Contents balance sheet (implying a post-money equity valuation of $970 million USD).
Key Points:
- CJ ENM, leading entertainment company originated from Korea, announced that they have entered into a definitive agreement to acquire an 80% stake of the scripted business of U.S.-based global premium content studio, Endeavor Content, from its parent company Endeavor Group Holdings (Endeavor)(NYSE: EDR) for $775 million USD in total proceeds at an enterprise valuation of $850 million USD, including $655 million USD to Endeavor and a contribution of $120 million USD of capital to Endeavor Contents balance sheet (implying a post-money equity valuation of $970 million USD).
- Through acquisition of Endeavor Content, CJ ENM plans to solidify its presence in the global market and content distribution channels.
- CJ ENM will also be able to expand its original IP collection to incorporate that of Endeavor Contents.
- CJ ENM will also be able to further accelerate its penetration into the global content market by making full use of Endeavor Contents extensive network across various distribution channels.