Endeavor Delays IPO; On Location Deal Could Diversify Revenue Base

Endeavor is delaying its IPO "until September" as it "works to finalize" its $700M acquisition of On Location Experiences, according to sources cited by Farrell & Driebusch of the WALL STREET JOURNAL. If completed, the deal for On Location "would aid the company's push to diversify its revenue base." Sources said that also behind the delay is Endeavor's desire to be able to "tout its second-quarter results and renegotiated contracts for soccer events, which it hopes will help achieve a higher public valuation." Sources added that Endeavor is "likely to seek a valuation" between $7-8B and "raise in excess" of $500M in its IPO. Postponing an IPO is an "unusual occurrence this year as companies race to list shares in one of the hottest markets for public offerings in decades" (WALL STREET JOURNAL, 8/2). The HOLLYWOOD REPORTER's Rebecca Sun reported the expected timetable has shifted to September "at the soonest" (HOLLYWOODREPORTER.com, 8/2).