With its initial public offering possibly just a few weeks away, Endeavor Group Holdings has reported a financial upswing in the second quarter ending June 30
plan encounter pushback from the Writers Guild and other pockets of Hollywood. Opponents cite concerns about the company’s increased production activity creating conflicts of interest between the representation and production areas of the company. The more urgent matter, of course, is that writers recently cut formal ties with agents across all major agencies in a labor struggle.
In the wake of costly deals to acquire the UFC, sports and fashion management firm IMG, the Professional Bull Riders and other assets, debt has been a concern of many industry observers and investors. In its quarterly update, Endeavor said it had an aggregate of $4.5 billion in outstanding debt and available borrowing capacity of $328.7 million under its revolving credit facilities.
Several weeks ago, Endeavor clarified that its offering would likely happen in the fall, a subtle shift in order to allow the quarterly numbers to be incorporated. A $700 million acquisition is also pending and is expected to close before the IPO.
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