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Illustration: Lazaro Gamio/Axios

Endeavor Group, the talent agency and live events company led by Ari Emanuel, filed for an initial public offering on Thursday.

Why it matters: In addition to owning Hollywood's largest talent agency, Endeavor also houses the Ultimate Fighting Championship and Professional Bull Riders, plus a video streaming effort that's signed such clients as World Wrestling Entertainment.

  • Endeavor reports $231 million of profit on $3.6 billion in revenue for 2018. That swings to a $152 million net loss on around $1 billion in revenue for Q1 2019.
  • Its largest segment is sports and entertainment ($2.77 billion in 2018 revenue), followed by representation ($1.3 billion).
  • It plans to trade on the New York Stock Exchange under the ticker EDR
  • Goldman Sachs is the IPO's co-lead underwriter with KKR, which in 2016 helped Endeavor purchase Ultimate Fighting Championship for over $4 billion.
  • The company's other major private equity backer is Silver Lake, although specific ownership stakes weren't disclosed in the IPO filing. We'll get that later.
  • Endeavor didn't disclose how much it plans to raise in the IPO, only listing a $100 million placeholder figure.
  • It plans to use a dual-class stock structure, which would keep the company controlled by Emanuel, Silver Lake and executive chairman Patrick Whitesell.

Emanuel writes in the IPO prospectus:

"Content is no longer defined solely by the traditional categories on which our businesses were founded. Television, movies and live events have been joined by others including podcasts, experiences, social media, multiplayer video games and esports. Wherever you are in the world and whatever way you define content, Endeavor is likely playing a role."

Go deeper: Endeavor no longer looks like the Hollywood talent agency of old

Go deeper

Updated 5 hours ago - Politics & Policy

U.S. sounds alarm on Ukraine

Conscripts line up at a Russian railway station yesterday before departing for Army service. Photo: Sergei Malgavko/TASS via Getty Images

The Biden administration is "deeply concerned" by new intelligence — detailed for Axios and other outlets — showing Russia stepping up preparations to invade Ukraine as soon as early 2022.

Why it matters: Most of this was known from public sources and satellite imagery, but the administration is sending a stronger signal by releasing specific details from the intelligence community.

CNN fires Chris Cuomo

Photo: Kevin Mazur/Getty Images for CNN

CNN said Saturday evening it has fired one of its star anchors, Chris Cuomo, following new revelations from a legal review made by the company into Cuomo's involvement in the management of his brother's sexual harassment scandal.

Why it matters: Saturday's firing speaks to how much pressure CNN was under by employees and critics to address Cuomo's behavior.

Updated 8 hours ago - Energy & Environment

Electric car prices could go up before they come down

Illustration: Eniola Odetunde/Axios

The secret to affordable electric vehicles is cheaper batteries. But after years of falling prices, battery costs are now headed in the wrong direction.

Why it matters: Costlier batteries could drive up the price of electric vehicles — threatening the auto industry's transition away from fossil fuels, and, in turn, society's fight against climate change.