Endeavor, formerly WME | IMG, has agreed to acquire digital video technology company NeuLion for $250 million.
Under the terms of the agreement, Endeavor will acquire each share of outstanding common stock of NeuLion for $0.84. Upon completion of the transaction, NeuLion will become a privately held subsidiary of Endeavor. The companies anticipate the acquisition will close in the second quarter of 2018. In the meantime, NeuLion will still announce its fourth quarter earnings on March 30.
“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,” said Roy Reichbach, president and CEO of NeuLion, in 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,” said Ariel Emanuel, CEO of Endeavor, in a statement. “NeuLion provides an ideal combination of technology and client services, and we’re excited for the value this brings to our existing partners and the foundation it provides for our future digital growth.”
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In addition to owning IMG and WME, Endeavor also owns UFC, which it acquired in 2016 for $4 billion.
“We’ve been fortunate over the years to represent UFC and a number of its remarkable athletes,” said Emanuel and Endeavor Executive Chairman Patrick Whitesell in a combined statement. “It’s been exciting to watch the organization’s incredible growth over the last decade under the leadership of the Fertitta brothers, Dana White and their dedicated team. We’re now committed to pursuing new opportunities for UFC and its talented athletes to ensure the sport’s continued growth and success on a global scale.”
The UFC is one of NeuLion’s digital video clients, along with the NFL, NBA, EFL, Euroleague, World Surf League, Univision, Sky Sports and Eleven Sports Network.