Endeavor Group Holdings , the talent agency and sports company run by Ari Emanuel, said Wednesday it would start exploring strategic alternatives for the company, which could mean a potential sale.
The move comes weeks after French billionaire Francois-Henry Pinault agreed to buy a majority stake in Endeavor rival Creative Artists Agency.
Endeavor's market value, likewise, was $7.79 billion as of Wednesday's market close, having declined 21% so far this year.
Notably, Endeavor said it wouldn't consider ditching its interest in TKO Group Holdings , the newly formed combat sports company that includes Vince McMahon's WWE and Dana White's UFC.
Endeavor owns 51% of TKO, which began trading on the New York Stock Exchange last month.
Persons:
Ari Emanuel, Mark Bradford, George Lucas, Gucci, Emanuel, Francois, Henry Pinault, Vince McMahon's, Dana White's, – CNBC's Alex Sherman
Organizations:
Endeavor Group Holdings, Endeavor, Creative Artists Agency, Holdings, Vince McMahon's WWE, Dana White's UFC, New York Stock Exchange
Locations:
LACMA, Los Angeles , California