Endeavor IPO Filing Reveals Net Loss of $625.3 Million for 2020

Endeavor has filed its prospectus for a possible IPO offering later this year, with updated financial disclosures revealing that parent company of WME, UFC and other sports and entertainment assets logged a $625.3 million net loss last year.

Endeavor pulled in revenue of $3.5 billion last year. The company planned to go public in 2019 but pulled back at the eleventh-hour amid market volatility and lukewarm demand.

“The power of the Endeavor platform has been on full display as we have brought commercial activity back online, guided our clients through an unprecedented set of events, and fostered innovation of new digital business models that will drive growth well into the future,” CEO Ari Emanuel wrote in a cover letter. “The events of 2020 reminded us of the enduring value of premium intellectual property and content, while reinforcing the strength of our position within the sports and entertainment ecosystem.”

More to come


Read More About:

Source: Read Full Article