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In a deal said to be worth nearly $700m, WME parent Endeavor has acquired a majority stake in corporate hospitality company On Location Experiences
By IQ on 06 Jan 2020
Endeavor has confirmed the acquisition of a majority stake in On Location Experiences, a luxury hospitality firm formerly part of the US’s National Football League (NFL).
The deal, reportedly worth US$660 million, sees Endeavor – the parent company of global booking agency WME Entertainment, among others – acquire On Location from its current owners, RedBird Capital Partners, Bruin Sports Capital, the Carlyle Group and 32 Equity. The NFL remains a minority shareholder through 32 Equity.
“By bringing together a leader like On Location with Endeavor’s access and reach, we can advance the way consumers and brands think about money-can’t-buy experiences,” says Ariel Emanuel, CEO of Endeavor.
“Partnering with the NFL will enable us to leverage the best-in-class executions around one of the biggest events in the world, the Super Bowl, and extend this same level of service and experiences to other sports and entertainment properties globally.”
“Together […] we can advance the way consumers and brands think about money-can’t-buy experiences”
On Location organises experiences for both corporate clients and fans around major sports and entertainment events, including the Super Bowl Music Fest, which last year featured Cardi B, Bruno Mars and Aerosmith.
“We are excited to partner with Endeavor to grow On Location Experiences globally,” comments NFL commissioner Roger Goodell.
“We are committed to offering NFL fans unique and first-class experiences at our events. On Location shares this commitment and delivers value for its partners and delights fans at events around the world.”
The new Endeavor-owned On Location Experiences will be led by president Paul Caine, formerly of Bloomberg, Time Inc. and Westwood One.
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