Endeavor Deals for NeuLion

Puts up $250M for video streaming technology specialist
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Endeavor has struck a deal to acquire online, multiscreen technology and services company NeuLion for about $250 million in cash.

Under the deal, announced Monday, Endeavor will acquire outstanding common shares of NeuLion for 84 cents each.

The deal is expected to close in Q2 2018, and have NeuLion become a privately held subsidiary of Endeavor, which was known as WME|IMG prior to a name change announced in October 2017.

Endeavor’s companies include WME, IMG and UFC, and a business that spans talent representation, brand marketing, sponsorship and licensing, media sales and distribution and events.

NeuLion’s current crop of streaming customers includes the UFC, NBA, Univision, National Geographic, Sky Sports, Poker Central, Eleven Sports, EFL, ITV, Euroleague Basketball, World Surf League, ITV, RugbyPass.com, Big Ten Network and the NFL, among others.

“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,” Roy Reichbach, president and CEO of NeuLion, said in a statement.

“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, Endeavor’s CEO. “NeuLion provides an ideal combination of technology and client services, and we’re excited for the value this brings to our existing partners and the foundation it provides for our future digital growth.”

Paul Weiss, Rifkind, Wharton & Garrison LLP is serving as Endeavor’s legal counsel in the deal, while The Raine Group acted as exclusive financial advisor to Endeavor. NeuLion’s legal advisor is Loeb & Loeb LLP, and its financial advisor is Needham & Company.

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