: Endeavor to look for ‘alternatives,’ but plans to keep WWE, UFC holdings

Shares of Endeavor Group Holdings Inc. EDR jumped more than 8% in the extended session Wednesday after the sports entertainment company said it was looking for “strategic alternatives.” The review won’t include a sale of the company’s TKO Group Holdings, Inc., which it formed earlier this year merging Ultimate Fighting Championship and World Wrestling Entertainment. “Given the continued dislocation between Endeavor’s public market value and the intrinsic value of Endeavor’s underlying assets, we believe an evaluation of strategic alternatives is a prudent approach to ensure we are maximizing value for our shareholders,” Chief Executive Ariel Emanuel said in a statement. There’s no “deadline or definitive timetable” for the completion of the review, Endeavor said.

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