By ROBERT GOLDRICH
Random/ Order Information and Entertainment, the Culver City-based convergent media and spot production company, has acquired an 80 percent stake in editorial and design house ARTiFACT, Santa Monica. The remaining 20 percent is retained by ARTiFACT’s five partners: CEO/creative director/editor Steve Armstrong; COO/creative director/ editor Christopher Willoughby; president/executive producer Michael Waters; senior producer Leah Welsh; and senior editor Walt Louie.
Per the deal, the ARTiFACT principals gain an equity share in Random/Order, a company under the aegis of chairman/ CEO Stuart Gross and president/COO Tory Hazard. Armstrong becomes a member of the Random/ Order board. Hazard sits on the board of ARTiFACT.
Endeavor Group Sells Professional Bull Riders, On Location and IMG To Parent of WWE and UFC
The parent company of WWE and UFC is buying Professional Bull Riders, On Location, and IMG from Endeavor Group in an all-stock deal valued at $3.25 billion.
The deal is part of Endeavor's efforts to shed some of its assets as it looks to be taken private in a proposed transaction with private equity firm Silver Lake, which was announced in April. Ariel Emanuel, who serves as CEO of Endeavor, is also executive chair and CEO of TKO.
Professional Bull Riders is a bull riding league that has more than 200 annual live events, approximately 1.25 million fans, and reaches more than 285 million households in more than 65 territories. On Location is live event company for more than 1,200 sporting events, such as the Super Bowl, Ryder Cup and NCAA Final Four. IMG is a distributor and producer of sports content, packages and sells media rights and brand partnerships, and provides consulting, digital services and event management to clients such as the National Football League and National Hockey League.
Parent company TKO Group said Thursday that the acquisition from Endeavor Group will complement its existing businesses as well as broaden its reach in the premium sports market.
"PBR, On Location, and IMG are industry-leading assets that meaningfully enhance TKO's portfolio and strengthen our position in premium sports globally," TKO Chief Operating Officer Mark Shapiro said in a statement. "Within TKO, they will help power the growth of our revenue streams and position us to capture even more upside from some of the most attractive parts of our sports ecosystem: media rights, live events, ticket sales, premium experiences, brand partnerships, and site fees."
As part of the deal, Endeavor will receive about 26.14 million common units of TKO... Read More