In a deal worth $775 million, Endeavor Group Holding has sold a majority stake in its scripted content division to South Korean media and entertainment giant CJ ENM, the Endeavor announced Thursday night.
CJ ENM, the producer of Oscar winner “Parasite” led by Samsung heiress Miky Lee, will acquire an 80% stake in Endeavor Content for $775 million in total proceeds, with $655 million going to Endeavor and an additional contribution of $120 million “to Endeavor Content’s balance sheet (implying a post-money equity valuation of $970 million USD),” Endeavor said in a statement.
Endeavor will keep ownership of its unscripted content division, along with “certain documentary and film sales and financing consultant services.”