Endeavor Group Holdings, Inc. (NYSE: EDR)
NEW YORK, April 26, 2023—Shareholder rights law firm Julie & Holleman LLP is investigating the proposed merger between Endeavor Group Holdings, Inc. (NYSE: EDR) and World Wrestling Entertainment, Inc. (NYSE: WWE), whereby the two entertainment giants will combine to form a new public company.
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Endeavor is a global sports and entertainment company. Its portfolio consists of the mixed martial arts organization UFC, sports and media company IMG, and entertainment agency WME. Endeavor is controlled by private equity firm Silver Lake, which holds about 70% of the company’s voting power. WWE is also a controlled company, with the majority of its voting power owned by Vincent K. McMahon, who has been embroiled in various controversies in recent months.
Following the merger, which is expected to close in the second half of 2023, existing Endeavor shareholders will own 51% of the new company, and existing WWE shareholders will own 49% of the company.
Julie & Holleman is investigating potential legal claims regarding the fairness of the merger terms and potential conflicts of interest. Among other things, Silver Lake may have interests that diverge from other shareholders’ interests, and it could be using its controlling stake to extract unfair benefits. Julie & Holleman is also concerned that the proposed merger might have driven the sale of its IMG business to another private equity firm.
To learn more about the firm’s investigation, please fill out the form below.