CJ ENM, leading entertainment company originated from Korea, announced today through a public filing that it has completed the acquisition of 80% stake in the scripted business of US-based global premium content studio Endeavor Content, including management rights, for approximately $785 million USD.
The acquisition will give CJ ENM access to Endeavor Content's portfolio covering an impressive roster of talent/creator and a robust global distribution network, thus strengthening its global content production and multi-studio structure. Endeavor Content’s large library continues to expand, looking to produce more than 40 movies and series by 2023.
"Endeavor Content will be the key driving force for CJ ENM's global growth" remarked Kang Ho-Sung, CEO, CJ ENM. He added, “CJ ENM plans to produce and distribute its own content for viewers all around the world with Endeavor Content, now part of the multi-studio, as the global basecamp."
Endeavor has retained 20% of the scripted portion of Endeavor Content, and has retained the non-scripted portion of the business, as well as certain documentary and film sales and financing consulting services. Endeavor Content’s Graham Taylor and Chris Rice will continue as co-CEOs.