×
You will be redirected back to your article in seconds

Endeavor Exploring Withdrawal From $400 Million Saudi Deal

Endeavor is exploring the possibility of backing out of its $400 million deal with the Saudi Public Investment Fund, Variety has confirmed.

The move comes in response to the disappearance of Jamal Khashoggi, a dissident columnist who was last seen entering the Saudi consulate in Istanbul two weeks ago. Turkish officials have reported that Khashoggi was murdered in the consulate and dismembered, a charge the Saudis have denied.

Endeavor, the parent company of WME and UFC, has been examining dissolving the financial pact that would have secured the kingdom a minority overall stake. The company negotiated the deal in January, as Saudi Crown Prince Mohammed Bin Salman embarked on an ambitious plan to invest in Hollywood and develop a domestic entertainment economy.

But in the wake of Khashoggi’s disappearance, many media and entertainment companies have been distancing themselves from the kingdom. (The PIF is also an investor in Variety parent company Penske Media Corporation.)

On stage at Mipcom in Cannes on Monday, Endeavor CEO Ari Emanuel said he was “personally concerned” about the situation.

“Listen, I am concerned,” he said. “We are concerned. On the face of it it’s upsetting, and we are monitoring the situation right now.”

Endeavor declined to comment on the matter.

The news was first reported by the Hollywood Reporter.

More Biz

  • President Donald Trump talks with Gov.-elect

    Trump Says He'll Work With California to Aid Wildfire Relief

    Endeavor is exploring the possibility of backing out of its $400 million deal with the Saudi Public Investment Fund, Variety has confirmed. The move comes in response to the disappearance of Jamal Khashoggi, a dissident columnist who was last seen entering the Saudi consulate in Istanbul two weeks ago. Turkish officials have reported that Khashoggi […]

  • church set Westworld Paramount Ranch Western

    Park Service Aims to Rebuild Western Town at Paramount Ranch in Two Years

    Endeavor is exploring the possibility of backing out of its $400 million deal with the Saudi Public Investment Fund, Variety has confirmed. The move comes in response to the disappearance of Jamal Khashoggi, a dissident columnist who was last seen entering the Saudi consulate in Istanbul two weeks ago. Turkish officials have reported that Khashoggi […]

  • Jim Acosta Microphone Moment

    First They Came For Acosta. Why We Sued Trump Before He Acts Again (Opinion)

    Endeavor is exploring the possibility of backing out of its $400 million deal with the Saudi Public Investment Fund, Variety has confirmed. The move comes in response to the disappearance of Jamal Khashoggi, a dissident columnist who was last seen entering the Saudi consulate in Istanbul two weeks ago. Turkish officials have reported that Khashoggi […]

  • Daniel GlassUJA-Federation of New York's Music

    Glassnote Music Strikes Strategic Partnership With Kobalt’s AWAL

    Endeavor is exploring the possibility of backing out of its $400 million deal with the Saudi Public Investment Fund, Variety has confirmed. The move comes in response to the disappearance of Jamal Khashoggi, a dissident columnist who was last seen entering the Saudi consulate in Istanbul two weeks ago. Turkish officials have reported that Khashoggi […]

  • Movie Theater

    Studios Expected to Push for Early Home Release in 2019 (EXCLUSIVE)

    Endeavor is exploring the possibility of backing out of its $400 million deal with the Saudi Public Investment Fund, Variety has confirmed. The move comes in response to the disappearance of Jamal Khashoggi, a dissident columnist who was last seen entering the Saudi consulate in Istanbul two weeks ago. Turkish officials have reported that Khashoggi […]

  • NetEase Discusses Importance of Chinese Gaming

    NetEase Discusses Importance of Chinese Gaming Regulation, Anti-Addiction Measures

    Endeavor is exploring the possibility of backing out of its $400 million deal with the Saudi Public Investment Fund, Variety has confirmed. The move comes in response to the disappearance of Jamal Khashoggi, a dissident columnist who was last seen entering the Saudi consulate in Istanbul two weeks ago. Turkish officials have reported that Khashoggi […]

  • Iggy Azalea at Hits 97.3, Fort

    Iggy Azalea Says She’s Signed a $2.7 Million Deal

    Endeavor is exploring the possibility of backing out of its $400 million deal with the Saudi Public Investment Fund, Variety has confirmed. The move comes in response to the disappearance of Jamal Khashoggi, a dissident columnist who was last seen entering the Saudi consulate in Istanbul two weeks ago. Turkish officials have reported that Khashoggi […]

More From Our Brands

Access exclusive content