Talent agency Endeavor returns Saudi Arabia's $400 million investment

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Making good on a pledge to sever ties with Saudi Arabia after the murder of journalist Jamal Khashoggi, Endeavor talent agency on Friday returned a $400 million investment from the kingdom's sovereign wealth fund.

div > div.group > p:first-child"> The news, first reported by The New York Times, comes six months after Khashoggi's death. Endeavor, helmed by Ari Emanuel, announced back in October that it would be extricating itself from a deal with the Saudi government following pressure from Hollywood to stand against the kingdom.

The multimillion dollar deal would have allowed the Saudi government to back entertainment projects at home and abroad and take a 5 to 10 percent stake in Endeavor, according to The Hollywood Reporter. Last year, Saudi Arabia's crown prince, Mohammed bin Salman, toured America meeting with Hollywood executives, celebrities and producers. The crown prince wanted to become less reliant on oil as the driving force of his kingdom's economy and to bolster Saudi Arabia's budding entertainment industry.

However, Khashoggi's death led to a chorus of international outcry and caused a number of business leaders in the entertainment, tech and transportation industries to suspend talks or sever ties. Virgin Group's Richard Branson ceased talks about potential investments in his space-travel business, and private-equity firm Blackstone Group, Uber and Goldman Sachs all cancelled plans to attend a major investment conference in the Saudi capital.

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Hollywood and wall street at least stand against murder something this administration won't do.

NICE TO KNOW THERE ARE STILL CORPORATIONS THAT HAVE MORALS, AND PUT HUMAN LIFE ABOVE THE ALL MIGHTY DOLLAR! SURE WISH THE USA WOULD!

so what ? do you think Saudi Arabia will cry because of that ? 😂 They will invest it some where else and Endeavor EndeavorSaudi will be the losers 😊

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William Morris Endeavor returns Saudi investment money after Jamal Khashoggi murderWME’s bid to return a $400-million investment to the Saudi Arabian government because of an outcry over the murder of Saudi journalist Jamal Khashoggi has been fulfilled, according to a person with knowledge of the talks. I haven't even a token dollar for WME stock at the moment...but this is a pretty heavy move.
Source: latimes - 🏆 11. / 82 Read more »