Silver Lake’s recent purchase of Endeavor Group Holdings represents an inflection point in the long-running confluence of private equity and global media. A transaction of approximately $13 billion in equity and a transaction valued at up to $27 billion in enterprise value, Silver Lake has acquired Endeavor in the largest media and entertainment take-private transaction in over a decade.

Such a move not only further cements Silver Lake’s belief in Endeavor’s long-term potential, but also reflects a wider reorientation of how value will be captured across the entertainment industry; toward ownership of talent, rights and platforms. In the report that follows, we delve into the strategic logic, the financial complexion and the industry implications of the transaction to provide an overview of one of the largest bets in the annals of recent private equity history.

Overview of the Deal: Silver Lake is a leading technology-focused private equity firm that agreed to acquire all outstanding shares of Endeavor Group Holdings in a landmark public-to-private transaction. The deal was announced in April 2024 and the definitive agreement sets a purchase price of $27.50 per share in cash, representing a roughly 55% premium to Endeavor’s prior stock price.

This offer values Endeavor’s equity at approximately $13 billion, and when factoring in debt and Endeavor’s stake in affiliated assets, the deal’s total enterprise value is about $25-27 billion, making it the largest private equity take-private in over a decade and the largest ever in the media and entertainment sector.