Endeavor, the media company that counts talent agency WME among its holdings, is declaring its intention to go public, according to The Hollywood Reporter.
“Insiders have said the media company is angling to raise roughly $500 million at a valuation of more than $6 billion,” THR reports.
The company generated $3.61 billion in revenue in 2018 and net income of $231.3 million, THR reports, citing a filing Thursday with the Securities and Exchange Commission.
“After adjustments, net income was $100.1 million, and earnings before interest, taxes, depreciation and amortization was $551.1 million,” THR reports.
The report adds: “The filing arrives less than a day after an overture by the major agencies to restart talks with the Writers Guild of America over a new franchise agreement. The situation with the WGA, in fact, is listed as a risk in Endeavor’s filing.”
THR quotes Endeavor’s filing saying: “Any unexpected change in franchise or licensing requirements … could have an adverse effect on our business, financial condition and results of operations.”