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Stock impact report

Endeavor to Sell OpenBet and IMG Arena In Management Buyout Backed By Ari Emanuel [Yahoo! Finance]

TKO Group Holdings, Inc. Class A (TKO) 
Company Research Source: Yahoo! Finance
Endeavor will sell the two companies — which are both in the sports data business — to OB Global Holdings LLC for $450 million, finance through a combination of cash and debt. Jordan Levin, the CEO of OpenBet, will lead the company after the deal is consummated. Levin is also participating in the buyout. More from The Hollywood Reporter Paris Olympics Boost Endeavor Earnings as Silver Lake Deal Nears Completion With Netflix and Endeavor Deals Looming, TKO Reports Growth In Q3 Endeavor Explores Sale of Miami Open, Madrid Open, Frieze After Portfolio Review “This management buyout allows us to continue executing our vision for increased market expansion and product innovation,” Levin said in a statement. “Our group is extremely confident in OpenBet's future considering the premium product offering, superior talent, and solid foundation we already have in place following a strong period of business growth.” Both IMG Arena and OpenBet were put up for sale in August. Endeavor Show less Read more
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