NeuLion Acquired by Endeavor for $250 Million
Today it was announced that digital-video and streaming powerhouse NeuLion has been acquired by Endeavor in an all-cash deal valued at $250 million.
Endeavor (formerly WME-IMG) is the parent company of the Ultimate Fighting Championship (UFC) and a major corporation in the sports, entertainment, and fashion space. NeuLion is one of the preeminent technology leaders in the world of digital-video experiences. The company has worked directly with many major sports partners across the globe, including the NFL, NBA, UFC, EFL, Euroleague, Big Ten Network, World Surf League, Univision, Sky Sports, and Eleven Sports Network.
“Through our content portfolio, client base, and broader network of rightsholders, we’ve encountered many different platforms for distributing and monetizing content,” Endeavor CEO Ariel Emanuel said in an official release. “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.”
According to the release, Endeavor will acquire each share of outstanding NeuLion common stock for $0.84, and NeuLion will become a privately held subsidiary.
“We’re excited by the value delivered to our stockholders through this transaction,” said Roy Reichbach, president/CEO, NeuLion. “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.”
The transaction was unanimously approved by NeuLion’s board of directors and is subject to regulatory approvals and other closing conditions. The deal is expected to close in the second quarter. The company is expected to release its Q4 2017 earnings on Friday.