Endeavor is well positioned for future growth even in a fast-consolidating marketplace because it has a foothold in most of the major entertainment sectors that are roaring back to life, Endeavor CEO Ari Emanuel told investors Wednesday in his first earnings call as the head of publicly traded company.
Emanuel, Endeavor president Mark Shapiro and CFO Jason Lublin fielded questions from top Wall Street media analysts for an hour as the company began the quarterly ritual of financial disclosures. Endeavor went public April 29 with an opening price of $24 a share. On Wednesday, the stock closed at $29.39.
Emanuel was pressed on the question of how the big getting bigger in media — as demonstrated over the past two weeks with mega deals between WarnerMedia and Discovery and Amazon’s deal to acquire MGM — will affect an independent outfit like Endeavor, which has tentacles throughout the marketplace with its sports, live events, entertainment, marketing and talent representation assets.
“Warner-Discovery and Amazon-MGM is just further proof that content is in high demand and short supply,” Emanuel said. “There are a finite number of IP creators to meet that demand. That is increasing the value of the talent we represent and the content we own or represent.”
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