Why Does Ari Emanuel Think Endeavor Can IPO This Time?

Endeavor’s scuttled IPO in 2019 was a rare loss for its high-profile CEO Ari Emanuel, who found out the hard way that pitching investors is not the same as wooing a new celebrity client. Since then, the COVID-19 pandemic bludgeoned the Hollywood talent representation and live event conglomerate’s bottom line throughout 2020. Yet despite coming off a year of falling profits and rising debt — and a live events business still facing a painful recovery — Emanuel is back for Round 2 with Wall Street. So what makes Emanuel think that an Endeavor IPO in 2021 will be any more successful than it would have been two years ago? “Two words: Elon Musk,” entertainment industry analyst Jeff Wlodarczak told TheWrap, referring to the news in Wednesday’s filing that the Tesla founder will join its board of directors. Musk, the unpredictable tech billionaire, seemingly has the ability to make markets rise and fall (just ask Bitcoin fans) with just a single tweet and that alone is a key differentiator, Wlodarczak argued. “Even though, generally, board of directors don’t add much value,” Wlodarczak said, “I have to think Elon’s involvement in a market where retail investors are playing a huge role is...

Read original story Why Does Ari Emanuel Think Endeavor Can IPO This Time? At TheWrap