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NeuLion, which supplies streams of sports and entertainment events, will become a wholly owned subsidiary of the former WME-IMG
By Jon Chapple on 27 Mar 2018
NeuLion, a New York-based video company specialising in broadcasts of live events, is to be acquired by agency giant Endeavor (formerly WME-IMG) in a US$250 million all-cash deal.
NeuLion provides streaming digital video content for companies including the NFL, NBA, Univision and Sky Sports.
The two companies worked together last August for the Conor McGregor–Floyd Mayweather fight, which was the second most-bought pay-per-view sports event in history. McGregor was at the time world lightweight champion of the Ultimate Fighting Championship (UFC), which WME-IMG bought for $4bn in July 2016.
“NeuLion provides an ideal combination of technology and client services”
On completion of the deal – which sees Endeavor acquire all shares of outstanding NeuLion common stock for $0.84 apiece – NeuLion will become a privately held Endeavor subsidiary.
“We’re excited by the value delivered to our stockholders through this transaction, 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,” says Roy Reichbach, president and CEO NeuLion.
Ari Emanuel, CEO of Endeavor, adds: “Through our content portfolio, client base and broader network of rightsholders, we’ve encountered many different platforms for distributing and monetising content. 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.”
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