Endeavor Goes Private: Emanuel Drops CEO Title As Silver Lake Wraps $25B Deal

The $25-billion deal by private-equity firm Silver Lake to take WME parent Endeavor private was finalized Monday, marking the end of the line — or at least the end of the name — for Endeavor.

The representation businesses that had been owned by Endeavor will continue under the name WME Group. That basket of companies includes the agency WME, along with marketing agency 160over90, brand licensing giant IMG and nonscripted content provider Pantheon Media Group.

Ariel Emanuel, who founded WME in 1995 and served as Endeavor’s CEO, is now Executive Chairman of WME Group. He will continue as CEO of TKO, the parent company of wrestling promotion WWE, MMA leaders UFC and more. TKO will remain publicly traded with a controlling interest held by the now-private Endeavor Group Holdings, Inc.. Endeavor was delisted on the New York Stock Exchange and shareholders will receive $27.50 per share as part of the deal. Including the TKO holdings, the deal represents a combined enterprise value of $25 billion, the largest public-to-private deal in history for the media and entertainment sector.

 “I am grateful to Egon (Durban, Silver Lake co-CEO and Managing Partner) and the team at Silver Lake for the trust they have placed in me as a founder and entrepreneur. Together, we have created and enhanced a foundation unlike any other to accelerate value creation for clients and partners across WME Group and TKO, which I am excited to continue to build and grow,” Emanuel said in a statement.

Mark Shapiro, who was president and COO of Endeavor (and continues to hold those titles at TKO) is now president and managing partner of WME.

 “Our ability to deliver landmark partnerships, career-defining business opportunities, and enduring cultural moments is amplified by this transaction and the formation of WME Group. The Silver Lake team has proven time and again that they are all-in on representation and content, and our clients, partners, and employees will thrive under our new structure,” he said.

Richard Weitz and Christian Muirhead, WME’s co-chairs since 2022, are co-chairman of the new WME Group.

Patrick Whitesell, who had been executive chairman at Endeavor, will now launch an as-yet-unnamed start-up — with $250 million of Silver Lake backing — to “invest in and scale properties and IP across sports, media, and entertainment.”  It’s likely WME’s football representation business will also head to Whitesell’s company. Durban owns a small stake of the Las Vegas Raiders and under league rules is prohibited from also owning an entity that represents active players.