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08.05.2024 - 21:51 / deadline.com
TKO Group Holdings posted better-than-anticipated revenue but saw a March antitrust settlement with UFC fighters squeeze its bottom line.
The company, formed through the merger of WWE and UFC last September, is run by Endeavor Group Holdings. Endeavor recently unveiled a plan to go private, making TKO the only public window onto the dealmaking activities of Ari Emanuel & Co.
Revenue of $629.7 million came in ahead of Wall Street analysts’ expectations, though the WWE and UFC components each recorded upticks in the single digits. Because of the timing of the merger, results in the quarterly report reflect the operations only of UFC.
One new piece of news included in the earnings release was WWE’s $25 million sale of rights to Monday Night Raw to NBCUniversal. Under the short-term extension, the franchise will continue to air on USA Network through the end of the year before a long-term, exclusive streaming deal with Netflix kicks in next January.
Net losses for TKO totaled $249.5 million in the quarter, while adjusted earnings before interest, taxes, depreciation and amortization [EBITDA] came in at $282.2 million. The company noted a $335 million settlement of antitrust claims filed by UFC fighters during the quarter. The settlement, announced in March, is payable in installments, per the earnings release.
TKO raised its full-year guidance for revenue, EBITDA and free cash flow conversion.
In the earnings release, Emanuel pointed to the UFC settlements and the raised guidance. “These positive developments, along with the strength in our underlying businesses, give us more conviction than ever in
the combination of UFC and WWE, and in TKO’s ability to deliver sustainable long-term value for shareholders,” he said.
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Erik ten Hag has made the astonishing claim Manchester United were better than City in last season's FA Cup final.
Fans of Clarkson's Farm were gobsmacked when Kaleb Cooper, the show's 25-year-old farming sensation, posted a clip of his little one, Oscar, taking over the tractor controls this week. Kaleb has become a familiar face on Jeremy Clarkson's hit Amazon Prime Video series, which follows the TV personality's foray into farming in Oxfordshire.
Byredo fans are swearing by a product from the brand that they insist might even be better than the classic perfumes. Gypsy Water has something of a cult following and you can get the exact scent for less than the typical £150 price tag. Byredo's Gypsy Water Hair Perfume is just £60 for a 75ml bottle and it's safe to use on your hair, skin and even clothes.Typically it's not advised to spray your hair with perfume as the alcohol can damage your locks.
Taskmaster creator Alex Horne has spoken to NME about the long-running TV show’s upcoming VR adaption, the “surprise” success of the franchise and the importance of rediscovering your inner child.Announced last year, Taskmaster VR has been created by indie developer Scallywag Arcade and will feature voice acting from both the Taskmaster Greg Davies, and his assistant Horne.“I was very involved, but I did very little,” Horne told NME. With two full Taskmaster series filmed a year, alongside an annual one-off New Year’s episode and a Junior version, Horne’s schedule is already pretty packed. “I live Taskmaster, but people are constantly approaching us with different ideas,” he explained.
Cate Blanchett helped make it starry red carpet Saturday evening at the Cannes Film Festival world premiere of Guy Maddin, Evan Johnson and Galen Johnson’s Rumours. The comedy, which is playing out of competition at the Cannes Film Festival, received a nearly six-minute standing ovation after it ended at the Palais.
Selena Kuznikov Renovo Media Group has launched a new studio and facility in Clear Lake, Iowa, set to be led by Lisa Crnic as president, Aaron Wiederspahn as head of scripted, and Ben Parrish as head of unscripted. The group is led by chairman David Kingland. Renovo Media Group will develop, finance and produce feature films, scripted and unscripted docs and series and commercial productions.
Yellowjackets is coming back next year.
Boots shoppers are rushing out to buy a 'magic in a bottler serum' that makes skin 'feel like silk' after application. Those who have tried the sought-after overnight serum have even hailed it as 'better' than a much more expensive version from Estee Lauder.
Just days after hosting the first of six rescheduled gigs from Co-op Live, Manchester’s AO Arena has been named as one of the best music venues in the country.
Endeavor Group Holdings posted a 16% increase in total revenue in the first quarter thanks to the WWE-UFC merger, though the company’s divisions outside of Owned Sports Properties each saw downturns.
Fox Corp. saw revenue dip for its fiscal third quarter as advertising slid on tough comps with the Super Bowl broadcast the year earlier.
Amazon shoppers are heaping praise on a pair of budget-friendly earphones that have been hailed as 'better than Apple AirPods'. Those who have tried the gadget insist they 'have more features than Airpods' and have a 'way superior' battery life, too.
You can banish weeds with a kitchen staple that's 'better' than white vinegar, as gardeners reveal a trick that kills weeds 'almost instantly'. For those battling with pesky weeds in their gravel paths or driveways, the solution might be closer than you think in your own kitchen.
Disney topped Wall Street forecasts for its fiscal second quarter and inched closer to the long-awaited milestone of streaming profitability.
Vince Staples has weighed in on the ongoing rap feud between Kendrick Lamar and Drake – see what he had to say below.On Saturday (May 4), Staples sat down with Long Beach Mayor Rex Richard for a panel discussion to celebrate Youth Day. During the chat, Staples was asked by a fan in attendance what he thought about Lamar and Drake going at one another.Staples, who has been an advocate for raising up Black culture, spoke about several major changes happening in the music industry that affect the Black community, signalling that more people should be paying attention to that instead of a rap beef.To begin his response, Staples noted that he has been signed to Universal Music Group for 13 years, first signing with them at the age of 17.
Marc Malkin Senior Editor, Culture and EventsMay kicked off with Variety celebrating the Power of Women New York, where Glenn Close helped honor – and have some fun on the red carpet with – Mariska Hargitay. In Sydney, Anya Taylor-Joy stunned in a gold ensemble at the “Furiosa: A Mad Max Saga” premiere and Austin Butler was in Beverly Hills taking part in an Emmy FYC event for “Masters of the Air.”Daniel Radcliffe celebrated his first Tony nomination for his work in “Merrily, We Roll Along” at the awards’ annual nominees press junket.
Britain’s Got Talent fans were impressed with one act in particular on Saturday Night’s Show. Student Duncan Murray took to the stage to with a routine of pogo stick tricks which left the audience mesmerised with viewers at home saying he was ‘one of the best’.
Sometimes the fan campaigning really works, though in this case, the fan is actor Giancarlo Esposito, known for his roles in “Breaking Bad,” and “The Mandalorian.” In the last year or more, Esposito has made it no secret that he’s been eager to join the Marvel Cinematic Universe, seemingly talking it up every chance he gets and telling audiences. Previously, the actor revealed he had met with Marvel Studios and said he was keen to play a new version of Professor X in the “X-Men” movies.
Anne Hathaway’s career in Hollywood began 23 years ago with a family movie about every teen girl’s ultimate fantasy — her geeky character discovered she was actually royalty.Now 41, the actress has delivered a second dose of impossible escapism with “The Idea of You,” an, ahem, steamier, R-rated flick clearly made for the older millennials who obsessed over “The Princess Diaries” back in the aughts.Her latest fizzy project instead realizes the dream of every bored woman in their thirties and forties: She plays an exhausted single mom who has a fling with a famous, 24-year-old British boybander. And why not? What fun.Anyway, I suspect that aspirational viewers of “The Idea of You,” a decadent diversion that’s based on the popular novel by Robinne Lee, would much rather jet set around Europe with Harry Styles than live in a moldy 300-year-old palace and cut ribbons.