Endeavor Defied the Odds by Going Public. Now, It Faces Growing Pains

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Endeavor defied its critics and the odds by successfully pulling off a public offering in April, but the company — a hodgepodge of live-events brands and talent representation — is facing major obstacles

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and other longtime players at the company, two sources say. The beef is largely among the most successful at the company who are not a part of that legacy group who have built up the firm over two decades, other insiders say.Another top Hollywood dealmaker was not surprised discontent would arise at Endeavor, saying that “when a company so bespoke goes public, the two circles of ‘haves’ and ‘have-nots’ get wider. There’s an art form to making everyone feel important when you’re growing.

Squabbles over stock are not the only contributors to a changing culture at Endeavor. Soon the company’s boutique production entity, Endeavor Content, will announce a majority stake sale that will keep its owner compliant with the code of conduct set by the Writers Guild of America. Emanuel and his team are seeking a minimum of $500 million for the asset. Potential buyers include Kevin Mayer and Tom Staggs’ new Blackstone Capital-backed venture.

Streaming has led to some splashy deals for top talent looking to sell films and shows to a Netflix or an Amazon, but the implosion of the theatrical film business has taken a chunk out of back-end deals for top stars. Look no further than the current legal fight being waged by Disney and Scarlett Johansson, a client of WME rival CAA, over its decision to release “Black Widow” concurrently on Disney Plus and in theaters.

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