Silver Lake finalised its $25bn acquisition of Endeavor Group Holdings, taking the global sports and entertainment firm private in what it calls the largest ever private equity-backed public-to-private deal in the media and entertainment sector.

The deal, first announced in April 2024, values the company at $27.50 per share—representing a 55% premium to its trading price prior to Endeavor’s strategic review. Endeavor shares will be delisted from the New York Stock Exchange following the transaction.

Endeavor, which went public in 2021, owns a 61% stake in TKO Group—home to sports brands including UFC and WWE—which will remain listed on the NYSE.

Silver Lake funded the deal using a mix of new and reinvested equity, with participation from Mubadala Investment Company, the Dell family office, CPP Investments, Lexington Partners, Goldman Sachs Asset Management, and equity rolled over by Ari Emanuel, Patrick Whitesell, and Mark Shapiro.

Following the deal, Endeavor has been renamed WME Group. Ari Emanuel will move from CEO to Executive Chairman while continuing as CEO of TKO. Mark Shapiro becomes President and Managing Partner of the rebranded WME Group. Meanwhile, Patrick Whitesell is launching a new investment platform in partnership with Silver Lake, targeting opportunities in sports, media, and entertainment.

WME Group’s portfolio includes the WME talent agency, 160over90 marketing agency, IMG Licensing, and Pantheon Media Group.