CJ ENM, Leading Entertainment Company to Acquire Controlling Stake for $775 Million USD in Global Premium Content Studio ‘Endeavor Content’

CJ ENM, Leading Entertainment Company to Acquire Controlling Stake for $775 Million USD in Global Premium Content Studio ‘Endeavor Content’

CJ ENM, a leading Korean entertainment company, has announced that it direct agreement to acquire 80% of the US-based global premium content studio, Endeavor Content, from parent company Endeavor Group Holdings (“The Endeavor ”) (NYSE: EDR) for USD 775 million in total revenue at a business value of USD 850 million, including USD 655 million to Endeavor and a USD 120 million donations to the Endeavor Content Sheet (meaning remittances estimated at USD 970 million).

 

The 80% stakeholder agreement, including administrative rights, was approved by the directors of CJ ENM on November 19, 2021 (KST). Endeavor will save 20% of the written part of the business, in addition to keeping the part of the business unlisted, specific sales of documentaries and films, and financial consulting services.

Chris Rice and Graham Taylor of Endeavor Content will continue to lead the studio CEOs. The expected agreement is to be closed off by the beginning of the 1st quarter of 2022.

 

This is found in CJ ENM’s largest M&A, which started investing in DreamWorks and jumped into the content business 26 years ago. With the acquisition of Endeavor content, CJ ENM plans to strengthen its presence in global markets and content distribution channels.

CJ ENM decided to expand its original includes Endeavor Contents. The portfolio and library that will host IPs globally will support the program of CJ ENM’s to launch its OTT platform, TV, around the world. CJ ENM will continue to accelerate its entry into the global content market by making full use of the broader Endeavor channels, which will create a full-fledged CJ ENM series to distribute world-class dramas, movies, and entertainment programs.

In addition, new doors will open to the creative pool, which includes producers, writers, etc., who will work together on multiple levels to create global mega-hit content.

 

“4 years ago, we are successfully set out to build the first studio with our talent,” notes Ariel Emanuel, the CEO of Endeavor. “Chris Rice, Graham Taylor, and the team of Endeavor Content have made that promise, and this transaction underscores talent and quality content.”

 

“We announce this agreement with Endeavor Content, a company that is growing in the U.S. market. and Europe, ”notes Kang Ho-Sung, CEO, CJ ENM. “We hope that this agreement will create the two companies, which their production capabilities and a list of IP-hit areas.

“We hope agreement will create the 2 companies, which their production capabilities and a list of IP-hit areas. Kang announced, “At the end of the day, the firm CJ ENM strives to be a major studio around that attracts global audiences – this agreement will continue to expand our presence in the global market.

“We are excited about our next chapter are seeking talent with our producer partners,” said  Chris Rice and Graham Taylor, co-CEOs of Endeavor Content. “With the addition of CJ ENM, our mission and focus are to empower them to an inclusive environment which will diverse content around the world is becoming stronger.”

 

Endeavor Content was launched in 2017, a platform capable of planning, and distributing a studio that, and producers first. Endeavor Content became a more inclusive studio that supports engaging a diverse audience.

Since its inception, Endeavor Content has owned, funded, and/or sold more than 125 films and television series that have garnered more than 69 Emmy nominations and 59 Academy Awards and nominations.

Major hits include “In the Heights” and “Just Mercy” for the Warner Brothers, “Book Club” for Higher Pictures, “Green Miracle” for Netflix, and “Joe Bell” and Sidewalk. The studio made its mark around the world, hosting a global distribution of the hottest series, including “Killing Eve,” “The Night Manager,” “Normal People,” and “Nine Perfect Strangers.”

 

Upcoming film projects include “Lost Daughter,” Maggie Gyllenhaal’s highly acclaimed Netflix directing the feature, and Michael Bay’s much-anticipated theater drama “Ambulance.”

On the television side, the studio will be presenting for the first time a new series from the top talent in the first half of the year. These include Ben Stiller’s “Severance,” Nicole Kidman’s “Roar” for Apple TV +, “Wolf Like Me” for Peacock, starring Josh Gad and Isla Fisher, Michael Mann’s “Tokyo Vice” HBO Max, and Amy Schumer’s “Life & Beth” for Hulu.

 

J.P. Morgan has a special financial advisor to CJ ENM on the job. O’Melveny & Myers have advisers to CJ ENM. Raine Group has special financial advisor to Endeavor on the job. Latham & Watkins LLP has an advisor to Endeavor.

 

About CJ ENM

CJ ENM is a leading Korean entertainment company based in Korea. Since 1995, the company has been involved in a variety of industries, including media content, music, film, play art, and animation, providing its high quality, authentic content on a variety of media platforms.

CJ ENM has created, produced, and distribute content that has been announced around the world, including the Cannes Parasite-winning film, the Kinky Boots music award-winning Tony Award, a Korean box office that songs Currents, Extreme Job, Ode to My Father, and after the television series Mr. Sunshine, Guardian: Grandpas over Flowers, The Lonely and Great God, I Can See Your Voice and more. The largest K-culture in the world of Hallyu, and the Mnet Asian Music Awards (MAMA), major music awards of Asia.

 

About Endeavor

Endeavor is an entertainment and sports company, home to several of the most engaging storytellers globally, brands live events, and experiences. The CJ ENM well-known industry leader including entertainment agency WME; fashion, sports, events, and media company IMG; and premier mixed martial  UFC. Endeavor in sports operations & advisory, events, talent representation, & experiences management, experiential marketing, media production & distribution, and brand licensing.

edited and proofread by nikita sharma