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Latham & Watkins Advises Endeavor in Acquisition by CJ ENM of a Controlling Stake in Endeavor Content

November 19, 2021
Members of the firm’s M&A and Entertainment, Sports & Media Practices represent the global sports and entertainment company.

CJ ENM, a leading entertainment company originated from Korea, has announced that they have entered into a definitive agreement to acquire an 80% stake of the scripted business of US based global premium content studio, Endeavor Content, from its parent company Endeavor Group Holdings (Endeavor)(NYSE: EDR) for US$775 million in total proceeds at an enterprise valuation of US$850 million, including US$655 million to Endeavor and a contribution of US$120 million of capital to Endeavor Content’s balance sheet (implying a post-money equity valuation of US$970 million).

Latham & Watkins LLP represents Endeavor in the transaction with a corporate and entertainment, sports & media deal team led by New York partner Justin Hamill, Century City partner Rick Offsay, and New York counsels Michael Anastasio and Robert McGuire, with associates Daniel Weissman, Nancy Zhu, Liliana Ranger, Omeed Anvar, Molly Wolfe, and Kaitlin Ray. Advice was also provided on tax matters by New York partner Matthew Dewitz, with associates Alan Kimball and Ron Moore; on finance matters by Century City partner Nancy Bruington, New York partner Joshua Tinkelman, and New York counsel Seniz Yakut; on executive compensation, employment, and benefits matters by New York partner Austin Ozawa, London partner Sarah Gadd, and Chicago partner Nineveh Alkas, with associates Max Raskin, Anne Bracaglia, and Olivia Sadler; on data and technology transactions matters by Los Angeles partner Ghaith Mahmood and Bay Area counsel Robert Blamires, with associates Nicole Nour and Jennifer Howes; on insurance matters by Boston partner Robert Gilbert; on antitrust matters by Washington, D.C. partner Amanda Reeves, Washington, D.C. counsel Peter Todaro, and Brussels counsel Tomas Nilsson; on real estate matters by New York partner Michelle Kelban and San Diego partner Stephanie Fontanes; on environmental matters by Orange County partner Christopher Norton; on anti-bribery matters by New York partner Benjamin Naftalis, with associate Lauren Sun; on export controls and trade sanctions matters by Washington, D.C. associate Andrew Galdes; and on capital markets matters by New York partner Benjamin Cohen and New York counsel Ellen Smiley, with associate Andrew Holt.