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Silver Lake Takes Endeavor Private, SI Owner Sues Arena Group for $49 Million and a Shareholder Revolt Could Strip Iger of Power

TheWrap sent this email to their subscribers on April 3, 2024.

Plus: Yahoo acquires AI news aggregation app Artifact, Paramount and Skydance discuss exclusive talks and SiriusXM launches Taylor Swift channel

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[ ————— THEWRAP SILVER LAKE TO TAKE ENDEAVOR PRIVATE By Lucas Manfredi Silver Lake has entered into an agreement to acquire and take Endeavor Group Holdings private. The move, which is being coordinated in partnership with Endeavor’s management team and additional anchor investors, will see the sports and entertainment giant acquired at an equity value of $13 billion. Under the terms of the agreement, the private equity firm, which holds approximately 71% of Endeavor’s voting power, will acquire 100% of the outstanding shares it does not already own, other than rolled interests. Read More ---------------------------------------------------------------------------------------------------------------------------------- manoj-bhargava SPORTS ILLUSTRATED OWNER SUES ARENA GROUP, CLAIMING IT OWES $48.75 MILLION By Eileen AJ Connelly Sports Illustrated’s owner sued the founder of 5-Hour Energy drink on Monday, accusing the entrepreneur of “lawlessness” in his convoluted attempt to take over the iconic magazine, of deliberately missing millions in payments to license the title and of interfering with its new publisher. The suit brought by Authentic Brands Group claims Manoj Bhargava owes the intellectual property company $48.75 million in missed payments, and also seeks damages for infringing upon SI’s copyrights and trademarks, The New York Times reported. Read More ---------------------------------------------------------------------------------------------------------------------------------- A SHAREHOLDER REVOLT PUT BOB IGER IN POWER. ANOTHER ONE COULD STRIP HIM OF IT By Lucas Manfredi and Drew Taylor The showdown between Disney CEO Bob Iger and an activist investor group culminating at Wednesday’s annual meeting won’t be the first time the entertainment giant has stared down a shareholder revolt. In fact, the last time this happened, Iger emerged the big winner. Two decades ago, Disney’s board stripped Iger’s predecessor Michael Eisner of his chairman title following the Save Disney campaign led by founder Walt Disney’s nephew Roy E. Disney and his investor partner Stanley Gold. As the smoke cleared, the Disney board handed the CEO reins to Iger, then Eisner’s No. 2, in 2005.  Read More ---------------------------------------------------------------------------------------------------------------------------------- Yahoo YAHOO ACQUIRES AI NEWS AGGREGATION APP ARTIFACT FROM INSTAGRAM COFOUNDERS  Paramount Global CEO Bob Bakish and nonexecutive chairwoman Shari Redstone PARAMOUNT, SKYDANCE CIRCLING EXCLUSIVITY TALKS IN ACQUISITION DEAL | REPORT r lfll’ \WIFT FRAS TOL W SIRIUSXM TO LAUNCH TAYLOR SWIFT CHANNEL AHEAD OF ‘TORTURED POETS SOCIETY’ RELEASE George Carlin's American Dream GEORGE CARLIN ESTATE SETTLES LAWSUIT WITH PODCASTERS BEHIND PURPORTED AI COMEDY SPECIAL ---------------------------------------------------------------------------------------------------------------------------------- Wrap Pro logo Discover why entertainment executives and professionals rely on the WrapPRO platform daily for exclusive coverage, analysis, deeper reporting, and access to VIP events & screenings throughout the year. ---------------------------------------------------------------------------------------------------------------------------------- Facebook Twitter Instagram YouTube TheWrap | 2034 Armacost Ave Los Angeles, CA 90025  |  LiveIntent Logo AdChoices Logo
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