Endeavor Buys NeuLion, A Streaming Provider, For $250 Million
Published on March 27, 2018
- Endeavor acquires a media streaming company called NeuLion.
- NeuLion worked with Endeavor before, the most recent of which would be to stream the bout between boxer Floyd Mayweather and UFC champion Conor McGregor.
- Through the acquisition, Endeavor hopes to diversify its portfolio.
Endeavor, the holding company which formerly went by the name WME-IMG, has recently acquired NeuLion, a streaming technology firm, in a $250 million deal. NeuLion is known for providing video delivery services to a wide range of content owners, especially major sports leagues. Endeavor also previously owned some of those leagues as well, including UFC and Professional Bull Riders.
In relation to this, it is worth noting that NeuLion has worked with Endeavor before. One of the most recent of such collaborations would be the streaming of the adrenaline-filled match between boxer Floyd Mayweather and UFC champion Conor McGregor last year.
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With the current acquisition, the holding company is trying to diversify its portfolio beyond the core talent agency business it is known for. Endeavor has also been busy acquiring TV rights to UFC matches which are currently held by Fox Sports. The company has also made it public that they intend to retain these rights and take the content directly to the public.
After the acquisition of NeuLion, Endeavor CEO, Ariel Emanuel made a statement, “Through our content portfolio, client base, and broader network of rights holders we’ve encountered many different platforms for distributing and monetizing content, [...] NeuLion provides an ideal combination of technology and client services, and we’re excited about the value this brings to our existing partners and the foundation it provides for our future digital growth.”
In similar courtesy, Roy Reichbach, who is the president and CEO of NeuLion stated, “We’re excited by the value delivered to our stockholders through this transaction, and we’re looking forward to the dynamic opportunities that being part of the Endeavor family will provide for both our current and new clients.”
As a part of the deal, Endeavor will acquire all outstanding common stock shares of NeuLion - to be held as a private subsidiary - for $0.84 each. This deal is scheduled to be completed by the end of the first quarter of 2018.
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