“This is the first time in 63 years both WGA and SAG-AFTRA are striking simultaneously. We currently estimate the strikes will adversely impact our revenue by approximately $25 million per month on average, which largely flows through to Adjusted EBITDA.
into a single sports entity that will trade as a separate stock under the ticker symbol TKO. Endeavor will maintain a 51% interest in the combined company and therefore consolidate its earnings. “I’ve been through many strikes over my more than 35 years of representing actors, writers and creatives of all types whose livelihoods depend upon the entertainment economy,” Emanuel said during his opening remarks on the quarterly earnings call. “Time and again, our industry has navigated change and now is no exception.
“We delivered solid results this quarter at Endeavor and are closing in on the launch of TKO Group Holdings,” said Emanuel of the company’s Q2 performance in a letter to shareholders. “Our share repurchase plan and dividend payment initiatives will begin in the third quarter, and we remain focused on maintaining prudent capital allocation and delivering long-term sustainable growth for the company.
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