Silver Lake Completes Takeover of Endeavor in $25 Billion Deal, Launches WME Group
Endeavor Group Holdings has officially gone private following the completion of its acquisition by longtime investor Silver Lake, the companies announced Tuesday.
The deal, first proposed in October 2023, values the global sports and entertainment giant at $25 billion and marks the largest private equity sponsor-led public-to-private transaction in more than a decade—and the biggest ever in the media and entertainment sector. As part of the transaction, Silver Lake and its partners acquired all outstanding shares of Endeavor they didn’t already own for $27.50 per share, a 55% premium over Endeavor’s closing stock price prior to the review of strategic alternatives announced late last year.
With the transaction finalized, Endeavor’s Class A stock will no longer be publicly traded on the New York Stock Exchange.
While Endeavor is now privately held, it retains its controlling stake in TKO Group Holdings (NYSE: TKO), the publicly traded company formed last year through the merger of UFC and WWE. Silver Lake highlighted that the deal reflects the consolidated value of TKO within Endeavor’s broader portfolio, which also includes representation, marketing, and production businesses.
As part of the restructuring, Endeavor’s representation assets will now operate under a new banner: WME Group. The unit includes:
- WME, the legacy talent agency with more than a century of history representing artists, athletes, and creatives across entertainment and sports.
- 160over90, a global marketing agency focused on brand partnerships and cultural activations.
- IMG Licensing, which manages licensing programs for top global brands and media franchises.
- Pantheon Media Group, a nonscripted production powerhouse known for live events, documentaries, and factual entertainment.
“This remarkable moment—and the even more exciting future it launches—is thanks first and foremost to Ari Emanuel and Patrick Whitesell,” Silver Lake Co-CEO Egon Durban said in a press release. “Silver Lake has never sold a share of Endeavor. We’ve only increased our stake because of our confidence in the company’s long-term growth.”
Emanuel will now serve as executive chairman of WME Group, while Mark Shapiro steps into the role of president and managing partner. Patrick Whitesell will transition into a new role as CEO and founder of a separate platform, created in partnership with Silver Lake, aimed at scaling IP across the sports, media, and entertainment landscape.
“Our ability to deliver landmark partnerships, career-defining business opportunities, and enduring cultural moments is amplified by this transaction,” Shapiro said in a statement.
Silver Lake’s equity financing for the deal includes new and reinvested capital from Mubadala Investment Company, DFO Management (the investment office of Michael Dell), Lexington Partners, Goldman Sachs Asset Management, CPP Investments, and rollover equity from key Endeavor leaders.
No changes have been announced for TKO’s operations or leadership, which include UFC president Dana White and WWE’s Andrew Schleimer. Silver Lake signaled strong confidence in both Endeavor and TKO’s growth trajectories, positioning the acquisition as a long-term play on the future of content, representation, and live entertainment.
