LOS ANGELES: Entertainment giant Endeavor has taken another step towards its IPO, issuing documents with the SEC Monday that, according to media reports, value the entertainment conglomerate at some $8 billion.
Deadline and The Hollywood Reporter reported that the company hopes to raise north of $600 million with the IPO that comes after the company completed several recent acquisitions.
Over the years, Endeavor has grown vastly beyond its initial roots in talent management, and now owns marketing and experiential agencies, as well as entertainment and events companies like Zuffa (parent company of the Ultimate Fighting Championship) and the Professional Bull Riders and Miss Universe as well content creation and distribution subsidiaries.
The company’s all-encompassing presence in the entertainment business has prompted criticism of Endeavor and the IPO. The Writers Guild of America has come out publicly against the public offering and WGA members have fired their Endeavor agents over potential conflicts of interest, according to Deadline.
In the last several years its marketing agency, Endeavor Global Marketing, has acquired other agencies and revamped its leadership team.
This past spring, Endeavor Global Marketing unveiled a new leadership team and in 2018 the company purchased London-based sports and entertainment PR firm Clifford French and acquired full-service branding shop 160/90.
Endeavor Global Marketing also owns firms such as Fusion Marketing, IMG Live and Kovert Creative.