CJ ENM Completes Acquisition Process of Hollywood Studio Endeavor Content

[Asia Economy Reporter Hwang Yoon-joo] CJ ENM has completed the acquisition process of Endeavor Content, a major Hollywood studio.

On the 19th, CJ ENM announced that it acquired approximately 80% of the shares, including management rights of Endeavor Content, for a final price of $785.38 million (approximately 930 billion KRW).

The remaining shares will be held by the existing major shareholder, Endeavor Group Holdings, to ensure stable business operations and build cooperative relationships. Key executives, including co-CEOs Chris Rice and Graham Taylor, will remain in their positions.

Endeavor Content, known for its involvement in producing "La La Land," is a studio with bases in 19 countries worldwide, including Europe and South America, aiming to produce more than 40 films and dramas by next year.

CJ ENM explained that through the acquisition of Endeavor Content, it has instantly absorbed a portfolio encompassing both East and West, a global pool of creators, and a strong overseas distribution network.