Endeavor is being renamed WME Group after going private once again following the completion of its acquisition by majority shareholder Silver Lake.

The name change reflects the company’s focus on its representation businesses, which include talent agency WME, global marketing agency 160over90, IMG Licensing and Pantheon Media Group. US-headquartered Endeavor went public on the New York Stock Exchange in 2021.

The move has resulted in role changes for Ari Emanuel, who switches from Endeavor CEO to WME Group executive chairman, and Mark Shapiro, who becomes president and managing partner, WME Group, having previously served as Endeavor president and COO.

“Our ability to deliver landmark partnerships, career-defining business opportunities, and enduring cultural moments is amplified by this transaction and the formation of WME Group,” says Shapiro. “The Silver Lake team has proven time and again that they are all-in on representation and content, and our clients, partners, and employees will thrive under our new structure.”

Endeavor stockholders are entitled to receive $27.50 in cash for each share of Endeavor Class A common stock they owned.

“I am grateful to Egon and the team at Silver Lake for the trust they have placed in me as a founder and entrepreneur,” adds Emanuel. “Together, we have created and enhanced a foundation unlike any other to accelerate value creation for clients and partners across WME Group and TKO, which I am excited to continue to build and grow.”

“This remarkable moment – and the even more exciting future it launches – is thanks first and foremost to Ari Emanuel and Patrick Whitesell”

The company was formed as WME-IMG via the 2013 merger of music/media agency William Morris Endeavor and International Management Group, rebranding as Endeavor in 2017.

The firm will retain its controlling ownership stake in TKO Group – the publicly listed entity consisting of UFC and WWE. According to Silver Lake, when consolidating all of TKO’s value into Endeavor, the combined total enterprise value is $25 billion, making it “the largest private equity sponsor public-to-private investment transaction in over a decade, and the largest ever in the media and entertainment sector”.

Meanwhile, former Endeavor executive chairman Patrick Whitesell will become the CEO and founder of a new platform in partnership with Silver Lake to invest in and scale properties and IP across sports, media, and entertainment.

“This remarkable moment – and the even more exciting future it launches – is thanks first and foremost to Ari Emanuel and Patrick Whitesell, and to the relentless and ambitious strategic vision they have shared for more than 20 years to build Endeavor into a global powerhouse across talent, brands, and IP spanning entertainment, media and sports,” says Egon Durban, co-CEO and managing partner of Silver Lake.

“Silver Lake is proud and honoured to be their partners since 2012 as they have continued to build the company. Over this period, revenue has grown by twentyfold. Silver Lake has previously invested on six separate occasions to support Endeavor and now, with this latest investment, it is the single largest position in our global portfolio.”

WME‘s music roster includes the likes of Coldplay, Adele, Dua Lipa, Justin Timberlake, Bruno Mars, Pearl Jam, The Killers and Foo Fighters.

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Endeavor has named Richard Weitz and Christian Muirhead as co-chairmen of WME.

Weitz, who represents an array of musicians, actors, comedians, writers, producers and directors, joined the agency in 1997 and was promoted to partner in 2002 when he was also named head of its television packaging department. Prior to Endeavor, Weitz served stints at InterTalent Agency and ICM.

“WME is home to me, and I’m thrilled to carry on its century-long history and help set the course for its next 100 years,” says Weitz. “I’ve had the privilege of working with some of the most talented artists, agents, and industry executives for over 25 years. I’m humbled to have this incredible opportunity to expand on those relationships and introduce new ones, while working with Ari Greenburg, Dan Limerick, and the entire management team to create further value for our clients.”

Muirhead, meanwhile, has been with the company for 18 years and has served as Endeavor’s chief communications officer (CCO) since 2014. He first joined the then William Morris Agency in 2004 and became its communications lead in 2008.

Following its merger with the Endeavor talent agency in 2009, Muirhead became WME’s head of communications and was later named a partner. He previously worked in international publicity at Warner Bros. Pictures.

“The appointment of Richard and Christian marks a truly transformative day for WME”

“Having started my journey at WME, I’ve had a front row seat to the evolution of the entertainment business and the growing influence of talent in shaping it,” says Muirhead. “I look forward to leveraging the full scale and depth of Endeavor’s network on our clients’ behalf, forging connections and creating opportunities to help them build industry-leading brands and businesses.”

WME’s music roster includes acts such as Adele, Foo Fighters, The Killers, Stormzy, Olivia Rodrigo and Bruno Mars.

“The appointment of Richard and Christian marks a truly transformative day for WME, which continues to be the inspirational core of Endeavor,” says the company’s president Mark Shapiro. “I’ve seen first-hand their innate ability to lead, to build meaningful relationships, and to leverage the broader Endeavor network in service to our clients’ aspirations. Coupled with their deep understanding of the entertainment landscape, I can say with certainty that there are no better or more complementary individuals to now lead the agency.”

The duo succeed chair Lloyd Braun, who plans to step down at the end of 2022.

“I would like to thank Lloyd for his leadership over these past three years, navigating WME through the pandemic and setting the agency on course for its best financial year on record,” adds Shapiro. “Lloyd has left an indelible mark on WME and laid a strong foundation for the future.”

WME recently elevated Lucy Dickins to the position of global head of contemporary music and touring.

Endeavor reported continued growth across its portfolio in the second quarter of 2022, prompting the company to increase its full-year forecast for adjusted EBITDA. Endeavor, which also owns sports agency IMG and the Ultimate Fighting Championship (UFC), among other properties, generated revenue of US$1.313 billion for the quarterly period ending 30 June, 2022.

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