Private equity firm Silver Lake has completed its acquisition of 100% of the stock of sports and entertainment giant Endeavor to take the company private in a deal that values it at $25 billion, the firm announced on Monday (March 24).

As part of the deal, Endeavor stockholders will receive $27.50 in cash per share, which represents a 55% premium to the company’s closing price of $17.72 on Oct. 25, 2023 — the day before Endeavor announced Silver Lake’s plans to take the company private.

Endeavor, which owns the talent agency WME, marketing agency 160over90, brand licensing agency IMG Licensing and more, will be renamed WME Group. Endeavor is the largest company in the media and entertainment sector ever to be taken private by a private equity sponsor, Silver Lake said in a press release.

Silver Lake co-CEO Egon Durban said his firm has never sold a share in Endeavor since its first investment in the company in 2012, and over that time, Endeavor’s “revenue has grown by twentyfold.”

“Silver Lake has previously invested on six separate occasions to support Endeavor and now, with this latest investment, it is the single largest position in our global portfolio,” Durban added.

Endeavor founder and former CEO Ari Emmanuel will move into the role of executive chairman of WME Group. On Monday, Emmanuel cashed out a portion of his ownership stake in the company for $173.8 million, per a regulatory filing first reported by Variety. Patrick Whitesell, who was previously executive chairman of Endeavor/WME received a $100 million payout, Variety reported.

Following the deal Endeavor will hold on to its majority stake in TKO Group Holdings, a separately traded sports and entertainment company whose assets include wrestling promotor WWE and Ultimate Fighting Championship. The valuation of $25 billion includes TKO’s assets.

In addition to WME, 160over90 and IMG, Endeavor’s portfolio includes Pantheon Media Group, live event hospitality firm On Location and sports betting data firm OpenBet.

Led by co-CEOs Durban and Greg Mondre, Silver Lake has $104 billion in combined assets under management, and its portfolio includes stakes in companies including Oak View Group, Fanatics, TEG, Waymo, Stripe, Plaid, SoFi and Madison Square Garden Sports.

Alt-rock greats Pavement are getting the biopic treatment, but the newest trailer for the upcoming film advertises that the project is less classic biopic and more “museum,” “movie” and a “reunion.”

In the nearly three-minute clip for Pavements, Stranger Things’ Joe Keery stars as frontman Stephen Malkmus. “It’s good for my career, maybe win an award or something,” Keery jokes at one point in the video about why he took on the role. “I can’t play Billy Joel.” 

The trailer also features Nat Wolff as Scott ‘Spiral Stairs’ Kannberg, Fred Hechinger as Bob Nastanovich, Logan Miller as Mark Ibold, Griffin Newman as Steve West, and Jason Schwartzman as Matador Records’ Chris Lombardi.

“Pavements is a movie about Pavement the band—among other things,” the official film description reads. “The latest film from acclaimed director Alex Ross Perry (Her Smell) is a documentary that may or may not be entirely true, may or may not be totally sincere, and may or may not be more about the idea of the band—or any band—than a history of the short-lived, passionately loved, commercially marginal Nineties American alternative group Pavement. This unconventional film about a highly unconventional band incorporates a stage musical, rock biopic, gallery exhibition, archival footage, and contemporary observational footage to create a film as irreducible, uncharacterizable, and entertaining as the band and its music.”

The real-life California band were active from 1989 until 1999, releasing a total of five albums, including 1992’s Slanted and Enchanted, 1994’s Crooked Rain, Crooked Rain, and 1997’s Brighten the Corners, which gave the group their highest-charting U.S. release when it hit No. 70 on the Billboard 200. Their final album was 1999’s Major Leagues.

In December, Kannberg revealed in an interview with the Kreative Kontrol podcast that the Pavements soundtrack will also feature the first new song from the band in more than 25 years. “There will be a new Pavement song on the soundtrack, that’s all I’m going to give you,” he explained. “I just heard a mix of it today, and it’s pretty good. It’s not a big deal, it’s just cool because it’s something different and it’s a song that we all kind of loved playing.”

Pavements will hit theaters nationwide on June 6. Watch the new trailer below.

Mariah Carey is taking her Celebration of Mimi tour overseas. The singer announced on Sunday (March 23) that she’ll honor the 20th anniversary of her 2005 album with a run of international dates in Asia in May and this fall.

“We’re taking The Celebration of Mimi worldwide! I can’t wait to see you all during this special anniversary year of the Mimi album more dates to be announced soon!,” Carey wrote. At press time the swing was slated to kick off in Shanghai, China on May 16, followed by another show in Shanghai on the 17th.

MC will be back overseas in October for a show on the 11th in Bangkok, Thailand, followed by a show in Manila, Philippines on Oct. 14, as well as a stop in Kobe, Japan on Oct. 28, winding down with Nov. 1-2 shows in Yokohama, Japan.

Carey began the celebration of her 10th studio album, 2005’s The Emancipation of Mimi, with a fifth residency in Las Vegas at Dolby Live that kicked off in April 2024, continued in July and August of last year and ran into January and February of this year. The singer who scored her second nomination for the Rock and Roll Hall of Fame in February has also booked a massive summer show in the U.K. at Royal Sandringham Estate in Norfolk on August 15 with support from Eternal and Nile Rodgers & Chic.

MC got good news last week when she won a federal court ruling dismissing a copyright lawsuit over her holiday classic “All I Want for Christmas Is You,” rejecting claims from songwriter Vince Vance that Carey and others allegedly stole key elements of her Christmas blockbuster from his 1989 song of the same name.

See Carey’s announcement below.

Falling in Reverse frontman Ronnie Radke is facing scrutiny after a social media tirade directed at Australian councillors prompted an official report to Tasmania Police.

The backlash stems from a photo shared by Launceston Mayor Matthew Garwood, who posed with Radke during the band’s current Australian tour. The image quickly drew criticism from councillors and members of the community, referencing Radke’s criminal past, including prior convictions for domestic violence and assault in 2012.

He also faced sexual assault allegations in 2015, though he was not convicted of that offence.

“I stand in solidarity with all the women who have suffered at the hands of violence, whose voices are continually silenced while men like Ronnie Radke are given hero status,” Councillor Lindi McMahon said in a statement reported by ABC News.

In response, Radke lashed out on Instagram, calling the ABC “propaganda pieces of s–t” and directly targeting Councillors McMahon and Andrea Dawkins. He referred to Dawkins as a “disgusting f—ing human,” tagging her account and instructing his followers to “go give her the much needed bullying she deserves.”

City of Launceston CEO Sam Johnson issued a firm response condemning the artist’s comments, calling them “dangerous and irresponsible.”

“The City of Launceston condemns the dangerous and irresponsible actions of US singer Ronnie Radke, who has used his social media platform to incite harassment and abuse against elected councillors,” Johnson’s statement reads.

“His recent Instagram video – which calls on his followers to target and intimidate Councillors who expressed concerns over a photo with the Mayor – is not only reckless but entirely unacceptable.

“Councillors have a duty to represent the interests of the community without fear of intimidation or abuse. No individual – celebrity or otherwise – has the right to weaponise their platform against those who exercise their democratic right to voice concerns.

“Mr Radke’s actions place undue risk on the safety and wellbeing of Councillors and their families, creating a hostile environment that goes against the principles of free speech, accountability, and civil discourse.

He confirmed that Tasmania Police had been contacted regarding the posts, adding that the council had reported Radke’s video to Instagram and urged social media platforms to act on the misuse of their services.

“We call on Mr. Radke to immediately retract his inflammatory statements and take responsibility for the harm his words have caused,” Johnson added. “His actions place undue risk on the safety and wellbeing of Councillors and their families, creating a hostile environment that goes against the principles of free speech, accountability, and civil discourse.”

Radke has since doubled down with a second video on Sunday, again attacking the councillors and showing no indication of retraction.

Meanwhile, Garwood has spoken out after posting the now-deleted photograph of himself of Radke., describing the last few days as “absolute mayhem”.

“I am deeply alarmed to hear of serious threats towards my colleagues and am concerned for their welfare and around the manner in which these uploads were delivered,” he wrote on March 23.

“The recent social media posts made by Ronnie Radke regarding City of Launceston Councillors were entirely his own and do not reflect my views in any way and I condemn the call for bullying and the way in which they have been delivered. I do not condone violence or threats against anyone, and I believe in respectful discourse, even in disagreement; Which is something that I too need to be better at.”

“These posts are a personal response from Mr. Radke to individual’s comments made about him. They were not directly related to my attendance at his show. It is important to separate individual opinions from broader discussions, and I encourage respectful engagement on all matters.”

He continued, “As stated in my previous post, I saw this as simply an opportunity to meet a band I’ve listened to since high school. Never to endorse any specific actions or personal positions of the band. I appreciate that people have differing views on this, and I will continue to respect those perspectives”

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