One of the business developments that Sashes&Scripts has been monitoring in silence has been the news that Endeavor Group Holdings Inc., owner of the WME talent agency and the Miss Universe pageant, would go public. Now it seems that owning a piece of Endeavor would have to wait.
Earlier this month, news broke out that the Endeavor group was set for an initial public offering with a valuation of US$8 billion. However this didn’t push through last September 26th following a “weak stock market demand” as published in a report by CNBC. In a report by LA Times, the company issued a statement that Endeavor “will continue to evaluate the timing for the proposed offering as market conditions develop.” The global entertainment company headed by co-chairs Ari Emanuel and Patrick Whitesell expected to raise $600 million, with an offer of 19,354,839 shares at an estimated price of $30 to $32 per share. But in September 26th, it lowered the targeted price range of its shares to $26 to $27 each.
In a separate report by the LA Times, it said that “Endeavor would be the first talent agency to go public and, as such, has been the subject of much speculation, in large part because of the heavy debt load the company is carrying and the volatile nature of many of its businesses. Its long-term debt totaled $4.6 billion with liabilities of $7.2 billion and cash on hand of $830.9 million, the company reported last month.”
For those not familiar, in 2017 the WME|IMG group rebranded itself to become Endeavor.
Now let’s break the business jargon to make it palatable to everyone. Going on a initial public offering (or an IPO) means that a company is selling shares of its stocks. This would mean additional investments for the business. In this case it would be an additional $600 million investment in the mother company of the Miss Universe pageant, Endeavor Group Holdings Inc.
From a business standpoint, lowering the price of your shares in an IPO is already incurring a financial loss. The higher demand there is for your company, the higher the price per stock will be. If the demand is low, it is better to postpone the IPO specially if the predicted price per share is lower than your threshold. This way you don’t sell your shares too low. But how does that affect the Miss Universe pageant when it is just one of the numerous properties owned by the company?
Now remember our rumor mill about an extension for Catriona Gray’s reign? Well, we touched upon the topic of the next MU winner being able to bring in revenue for the pageant. Now that is perhaps because the parent company, Endeavor has a huge amount of debt. This is probably the reason that our insiders have said to us that the Miss Universe organization have to be financially independent. And that perhaps is why the next Miss Universe winner has to be able to sell the MU brand and be commercially viable for endorsements. The MUO nowadays is looking to be more of a talent management company after a winner has been selected.
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THE CHICHI & CHAAH SHOW
Ngayewn let’s hanash pa more kewng ano ang ibig shah-bee-hen nites. Nanganga-ee-lung-an ng andaluscia ang Maw There Comp a Knee kaya malam-ang nha sha la bus ng Tate mangya yaw ree ang pageant. Witch means na mash mala key ang Chance Crawford na sa Pagpag Land ang pageant diss year. Duh rea-sun four dat ees eef sha Tate ang Meshoo, hem you owe ang ga gash ta, seens gush two nee lung ku me tah sa la bus ng Tate dapat ang Meshoo.
Kaia Gerber mala cash ang kutob ng mga Ladies Who Lunch ng Nueyva Yowrk na si Miss Cuneta Astrodome ess duh annointed wan. Poo-weed-e deen si Binibining Pagpagland eef lumaban shah ng pata yawn. Pare hung marke table cee lung twoh. Dot is why oh why commercially beauty full with a heart ang dapat manna low. Kaia Gerber dean si Dalagang Bookid ng Albay ees cannot a Ford ng eBang Laith tee knows count three na bayaw run four her booking fish. Kazeenee nga Mahalia Burkmar na maimbita hun si Dalagang Booking ng Albay bee lung reigning Meshoo.
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The next Miss Universe pageant is rumored to be taking place once again in Manila, Philippines with a date that is supposedly on January 26 of 2020. This is so far what we know that is circulating among insiders of the pageant circuit. So far, 61 candidates have been confirmed with an expected total of 90+ to join the MU pageant. Reigning Miss Universe Catriona Gray of the Philippines would be the third Filipina to pass on her title in her home-country should the Philippine hosting be confirmed. . . . . . #SashesandScripts #PageantBlogger #UltimatePageantBlog #PageantBlog #PageantBlogger #pageant #pageantry #MissUniverse #ConfidentlyBeautiful #MissUniverso #MissUniverse2019 #BbPilipinas #MissVenezuela #MissColombia #MissMexico #MissUniversePhilippines #MissUniverseThailand #MissUniversePuertoRico #MUPR #MissDiva #PuteriIndonesia #MissUSA