Endeavor to sell OpenBet, IMG Arena for about $450 mln to management-led group
Portfolio Pulse from
Endeavor Group is selling its OpenBet and IMG Arena businesses to a management-led group, OB Global, for approximately $450 million. The deal is backed by Hollywood power broker Ari Emanuel.
November 11, 2024 | 10:30 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Endeavor Group is divesting its OpenBet and IMG Arena businesses for $450 million to OB Global, a management-led group backed by Ari Emanuel.
The sale of OpenBet and IMG Arena for $450 million could positively impact Endeavor's stock by improving its financial position and allowing it to focus on core operations. The backing by Ari Emanuel adds credibility to the transaction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100