In a $775 million deal that is intended to serve as a new growth engine towards the Korean entertainment company’s vision as a ‘global total entertainment company’, CJ ENM has entered into a definitive agreement to acquire an 80% stake of the scripted business of US-based global premium content studio, Endeavor Content.
Endeavor Content launched in 2017 as a platform and talent agency-agnostic production, advisory, sales, and distribution studio that puts artists, creators, and producers first. Its mission later expanded to become a more inclusive studio that champions and supports content and creators who engage diverse audiences. Since its inception, Endeavor Content has owned, financed, and/or sold more than 125 films and television series that have garnered more than 69 Emmy wins and nominations and 59 Academy Award wins and nominations. Major hits include In the Heights and Just Mercy for Warner Brothers, Book Club for Paramount Pictures, Blue Miracle for Netflix, and Joe Bell with Roadside Attractions. The studio has also made its mark internationally, handling global distribution for hit series including Killing Eve, The Night Manager, Normal People and Nine Perfect Strangers.
Upcoming film projects include The Lost Daughter, Maggie Gyllenhaal’s critically acclaimed feature directing debut for Netflix, and Michael Bay’s highly anticipated Ambulance for theaters. On the television side, the studio will premiere several new series from top talent in the first half of the year. These include Ben Stiller’s Severance, Nicole Kidman’s Roar for Apple TV+, Wolf Like Me for Peacock, starring Josh Gad and Isla Fisher, Michael Mann’s Tokyo Vice for HBO Max and Amy Schumer’s Life & Beth for Hulu.
CJ ENM is best known for its recent multiple Academy Award-winning Parasite and its credits also include television series Crash Landing on You, Goblin: The Lonely and Great God, Hospital Playlist, and films Snowpiercer, Miss Granny, and Tony Award winning Broadway production, Kinky Boots.
The new deal is the largest M&A for CJ ENM, which first invested in DreamWorks and jumped into the content business 26 years ago. Through acquisition of control of Endeavor Content, CJ ENM plans to solidify its presence in the global market and content distribution channels. CJ ENM says that it will also be able to expand its original IP collection to incorporate that of Endeavor Content’s.
The two companies anticipate the deal will close early in the first quarter of 2022. As part of the deal, Endeavor will retain 20% of the scripted portion of the business, in addition to retaining the non-scripted portion of the business, as well as certain documentary and film sales and financing consulting services. Endeavor Content’s Graham Taylor and Chris Rice will continue to lead the studio as co-CEOs. The Endeavor library and portfolio that will hold a wide range of IPs from all over the world will support CJ ENM’s plan to launch its TVING OTT platform.
“We are excited to announce this deal with Endeavor Content, a company that is growing at a remarkable speed in the US and European markets,” remarked CJ ENM CEO Kang Ho-Sung commenting on the deal. “We are confident that this deal will create synergy between commented companies, globally acknowledged for their production capabilities and list of hit IP properties. At the end of the day, CJ ENM strives to become a major global studio that encompasses content that appeals to a global audience – like this deal with Endeavor Content, we will continue to expand our presence in the global market.”
“Four years ago, we set out to build a talent-first studio that prioritised greater creative freedom and ownership,” added Endeavor CEO Ariel Emanuel. “Graham Taylor, Chris Rice and the entire Endeavor Content team delivered on that promise, and this transaction further underscores the enduring value of talent and premium content.” Continued Emanuel, “Having known Miky Lee for more than 25 years, I’m confident that CJ ENM will be excellent stewards of the studio, accelerating and amplifying its projects on a global stage.”
Upcoming film projects include The Lost Daughter, Maggie Gyllenhaal’s critically acclaimed feature directing debut for Netflix, and Michael Bay’s highly anticipated Ambulance for theaters. On the television side, the studio will premiere several new series from top talent in the first half of the year. These include Ben Stiller’s Severance, Nicole Kidman’s Roar for Apple TV+, Wolf Like Me for Peacock, starring Josh Gad and Isla Fisher, Michael Mann’s Tokyo Vice for HBO Max and Amy Schumer’s Life & Beth for Hulu.
CJ ENM is best known for its recent multiple Academy Award-winning Parasite and its credits also include television series Crash Landing on You, Goblin: The Lonely and Great God, Hospital Playlist, and films Snowpiercer, Miss Granny, and Tony Award winning Broadway production, Kinky Boots.
The new deal is the largest M&A for CJ ENM, which first invested in DreamWorks and jumped into the content business 26 years ago. Through acquisition of control of Endeavor Content, CJ ENM plans to solidify its presence in the global market and content distribution channels. CJ ENM says that it will also be able to expand its original IP collection to incorporate that of Endeavor Content’s.
The two companies anticipate the deal will close early in the first quarter of 2022. As part of the deal, Endeavor will retain 20% of the scripted portion of the business, in addition to retaining the non-scripted portion of the business, as well as certain documentary and film sales and financing consulting services. Endeavor Content’s Graham Taylor and Chris Rice will continue to lead the studio as co-CEOs. The Endeavor library and portfolio that will hold a wide range of IPs from all over the world will support CJ ENM’s plan to launch its TVING OTT platform.
“We are excited to announce this deal with Endeavor Content, a company that is growing at a remarkable speed in the US and European markets,” remarked CJ ENM CEO Kang Ho-Sung commenting on the deal. “We are confident that this deal will create synergy between commented companies, globally acknowledged for their production capabilities and list of hit IP properties. At the end of the day, CJ ENM strives to become a major global studio that encompasses content that appeals to a global audience – like this deal with Endeavor Content, we will continue to expand our presence in the global market.”
“Four years ago, we set out to build a talent-first studio that prioritised greater creative freedom and ownership,” added Endeavor CEO Ariel Emanuel. “Graham Taylor, Chris Rice and the entire Endeavor Content team delivered on that promise, and this transaction further underscores the enduring value of talent and premium content.” Continued Emanuel, “Having known Miky Lee for more than 25 years, I’m confident that CJ ENM will be excellent stewards of the studio, accelerating and amplifying its projects on a global stage.”
