Entertainment management and events firm Endeavor Group Holdings has bought outright control of the On Location sports event firm and its older Endeavor China business. The two separate deals will …
In a regulatory filing Thursday, Endeavor said that it will pay $224 million to buy out the minority shareholders in On Location, a firm that provides hospitality services to the NFL and the Super Bowl. Endeavor previously bought a majority stake in the firm in January 2020. The new deal is to be paid for with the issue of new Endeavor shares. The group is also issuing some $10 million of shares to On Location management and key employees.
In both cases, the acquired companies become wholly-owned, indirect subsidiaries of Endeavor Group Holdings. “These transactions enable Endeavor to streamline management and create operational efficiencies across these two businesses, while fully integrating them within its network,” said the group.
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