Endeavor Acquires NeuLion for US $250 Million

What: Endeavor and NeuLion have entered an agreement by which the former will acquire the latter in an all-cash deal valued at approximately USD $250 million.
Why it matters: NeuLion powers the video delivery of a wide range of content owners, particularly major sports leagues, some of them owned by Endeavor.

NeuLion, a company specializing in digital video broadcasting and on-demand content, and sports and entertainment leader Endeavor, have announced that they have entered an agreement by which Endeavor will acquire NeuLion in an all-cash deal valued at US $250 million.

“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,” remarked Roy Reichbach, President & CEO, NeuLion.

NeuLion and Endeavor have worked together before, having streamed the bout between boxer Floyd Mayweather and UFC champion Conor McGregor last year. Endeavor is shopping TV rights to UFC matches currently parked at Fox Sports, and the company has reportedly explored retaining those rights and going directly to the consumer.

“Through our content portfolio, client base, and broader network of rights holders we’ve encountered many different platforms for distributing and monetizing content,” added Ariel Emanuel, CEO, Endeavor. “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.”

Under the terms of the agreement, Endeavor will acquire each share of outstanding common stock of NeuLion for US $0.84. Upon completion of the transaction, NeuLion will become a privately held subsidiary of Endeavor.

The transaction, unanimously approved by NeuLion’s Board of Directors and by the written consent of holders of a majority of NeuLion’s outstanding common stock, is subject to regulatory approvals and other closing conditions, and is expected to close in the second quarter of 2018. The company expects to release its Q4 2017 earnings on March 30, 2018.

[Featured image: Conor McGregor (left) and Floyd Mayweather Jr. (right) shake hands after their boxing match. Joe Camporeale-USA TODAY Sports]

 

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Editorial Staff @portada_online

Portada Staff

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