Endeavor Group Holdings, Inc. , a global sports and entertainment company, announced today it has closed its previously announced sale of an 80% stake of the scripted business of U.S.-based global premium content studio, Endeavor Content, to CJ ENM, a leading entertainment company from Korea, for approximately $785 million in total proceeds to Endeavor and Endeavor Content.
The price initially communicated in November 2021 was $775 million. The deal to acquire the 80% stake, including management rights, was approved by CJ ENM’s board of directors on November 19, 2021.
Endeavor Content’s Graham Taylor and Chris Rice will continue to lead the studio as co-CEOs.
Endeavor has retained 20% of the scripted portion of Endeavor Content, and has retained the non-scripted portion of the business, as well as certain documentary and film sales and financing consulting services.
This acquisition is the largest M&A for CJ ENM, which first invested in DreamWorks and jumped into the content business 26 years ago. Through acquisition of Endeavor Content, CJ ENM plans to solidify its presence in the global market and content distribution channels. CJ ENM will also be able to expand its original IP collection to incorporate that of Endeavor Content’s. The library and portfolio that will hold a wide range of IPs from all over the world will support CJ ENM’s plan to launch its OTT platform, TVING, globally. CJ ENM will also be able to further accelerate its penetration into the global content market by making full use of Endeavor Content’s extensive network across various distribution channels. This will create a full value chain for CJ ENM to distribute its top-notch dramas, movies, and entertainment programs to the world. New doors will open for the creative pool, including producers, writers, etc., that will be able to collaborate on multiple levels to create global mega-hit contents.
Endeavor comprises industry leaders including entertainment agency WME; sports, fashion, events and media company IMG; and premier mixed martial arts organization UFC. The Endeavor network specializes in talent representation, sports operations & advisory, event & experiences management, media production & distribution, experiential marketing and brand licensing.
Endeavor Content launched in 2017 as a platform and talent agency-agnostic production, advisory, sales, and distribution studio that puts artists, creators, and producers first. Endeavor Content’s mission later expanded to become a more inclusive studio that champions and supports content and creators who engage diverse audiences. Since its inception, Endeavor Content has owned, financed, and/or sold more than 125 films and television series that have garnered more than 69 Emmy wins and nominations and 59 Academy Award wins and nominations. Major hits include “In the Heights” and “Just Mercy” for Warner Brothers, “Book Club” for Paramount Pictures, “Blue Miracle” for Netflix, and “Joe Bell” with Roadside Attractions. The studio has also made its mark internationally, handling global distribution for hit series including “Killing Eve,” “The Night Manager,” “Normal People,” and “Nine Perfect Strangers.” Upcoming film projects include “The Lost Daughter,” Maggie Gyllenhaal’s critically acclaimed feature directing debut for Netflix, and Michael Bay’s highly anticipated “Ambulance” for theaters. On the television side, the studio will premiere several new series from top talent in the first half of the year. These include Ben Stiller’s “Severance,” Nicole Kidman’s “Roar” for Apple TV+, “Wolf Like Me” for Peacock, starring Josh Gad and Isla Fisher, Michael Mann’s “Tokyo Vice” for HBO Max, and Amy Schumer’s “Life & Beth” for Hulu.
CJ E&M is a South Korean media and entertainment company established by CJ Group in 2011. As of July 2018, CJ E&M became a division of CJ ENM.
Leading entertainment company CJ ENM is best known for its recent multiple Academy Award-winning “Parasite,” CJ ENM’s credits also include television series “Crash Landing on You,” “Goblin: The Lonely and Great God,” “Hospital Playlist,” and films “Snowpiercer,” “Miss Granny,” and Tony Award winning Broadway production, “Kinky Boots.” Headquartered in Seoul, Korea, its entertainment division engages in a wide array of businesses across the industry spectrum including media content, music, film, performing arts, and animation. CJ ENM’s critically acclaimed content has been enjoyed by a global audience through various media platforms and remake versions.
This deal is another addition to CJ ENM’s expanding presence in the global market. CJ ENM is currently co-producing a drama series with US-based media company Skydance Media as part of its strategic partnership made early last year. CJ ENM is also involved in the production of a TV adaptation of award-winning movie “Parasite” set to broadcast on HBO. Additionally, CJ ENM is the company behind “I Can See Your Voice,” a popular entertainment show that has been broadcast and/or remade in more than 23 regions, as well as 2021 Emmy nominated drama “It’s Okay to Not Be Okay” and music reality show “I-Land.”
Part of a bigger and diversified South Korean conglomerate rooted in Samsung till the 90’s
Today CJENM comprises an e-commerce division and an entertainment division. The first one is CJ Onstyle the evolution of the pioneer in home shopping in South Korea (the TV home shopping channel CJ O Shopping). The second one, The entertainment division is focused in several business fields such as: Content creation (both pure content and marketing or brandend content) through TV/Studio; Film; Music; Performing Arts; Animation; Services for conventions -presenters-; and Advertising and Sales through total marketing solution company offering cross media services.
CJ ENM belongs to CJ Group, a South Korean conglomerate based in Seoul, that comprises numerous companies in various food and foodservice, pharmaceutical and biotech, entertainment and media, home shopping, and logistics industries. CJ Group was originally a branch of Samsung until it was spun off in the 1990s.
CJ comes from ‘Cheil Jedang’, which means “first sugar manufacturing”, the industry where the company originally started operations.
Leaving aside CJENM, CJ’s major affiliates include CJ CheilJedang, CJ Korea Express (logistics), CJ Olive Networks (health & beauty and computer stores), and CJ CGV (a chain of cinemas).
Image over the headline.- Respectively, © CJ ENM and © Endeavor Content. Composition © Eastwind.
Related Eastwind Marketing links:
Endeavor China acquires Mailman Group
South Korean studio behind oscarized Parasites invests in Skydance Media
