Endeavor Nears Deal To Sell Content Business To South Korea’s CJ
and offered a few comments on the status of the content unit sale. They declined to break out revenue for Endeavor Content, but asserted that the unscripted business, which will stay a part of the company, is thriving.
Profit margins in the business segment where the content business has been reported should increase after the sale is finalized, CFO Jason Lublin said on Monday’s earnings call. “We also think the representation segment should be simpler to evaluate without the challenges of determining production and episodic delivery timing in the segment,” he added.
Among CJ’s other investments in entertainment is a stake in Skydance Media. It was also an early investor in DreamWorks. In fact, DreamWorks is an important piece of connective tissue between the companies. Endeavor CEO Ari Emanuel has longstanding ties with CJ Group vice chair Miky Lee. In 1995, as an agent, he helped broker the company’s $300 million investment in DreamWorks SKG in exchange for distribution rights in Asia outside of Japan, a business area then spearheaded by Lee.
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