Ari Emanuel, sportscaster Jim Gray, and Tony and Margaret McGregor at the Floyd Mayweather Jr. and UFC lightweight champion Conor McGregor official weigh-in on August 25, 2017. Photo: Ethan Miller/Getty Images

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

The big picture: While legacy media businesses have spent billions of dollars building "pipes" (cable networks, movie theaters), Endeavor has focused on owning premium content that can then be distributed through those pipes.

Between the lines: Endeavor is perhaps best known for representing movie stars. But according to the filing, more than 70% of its $3.6 billion revenue last year came from creating and licensing content — much of it in sports.

  • Endeavor owns the UFC and Professional Bull Riders (PBR), as well as a video streaming business with clients like the NFL, NBA, MSG, Big Ten Network and WWE.

Buzz: Emanuel was the inspiration behind Jeremy Piven's Ari Gold character on "Entourage." He's also the brother of former White House chief of staff and Chicago Mayor Rahm Emanuel.

The bottom line: 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: We've covered Fanatics for this week's sports business spotlight — as well as Nasdaq, Sports Business Awards, and Opendorse.

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Updated 3 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 10 p.m. ET: 32,471,119 — Total deaths: 987,593 — Total recoveries: 22,374,557Map.
  2. U.S.: Total confirmed cases as of 10 p.m. ET: 7,032,524 — Total deaths: 203,657 — Total recoveries: 2,727,335 — Total tests: 99,483,712Map.
  3. States: "We’re not closing anything going forward": Florida fully lifts COVID restaurant restrictions — Virginia Gov. Ralph Northam tests positive for coronavirus.
  4. Health: Young people accounted for 20% of cases this summer.
  5. Business: Coronavirus has made airports happier places The expiration of Pandemic Unemployment Assistance looms.
  6. Education: Where bringing students back to school is most risky.
Mike Allen, author of AM
6 hours ago - Politics & Policy

Biden pushes unity message in new TV wave

A fresh Joe Biden ad, "New Start," signals an effort by his campaign to make unity a central theme, underscoring a new passage in his stump speech that says he won't be a president just for Democrats but for all Americans.

What he's saying: The ad — which began Friday night, and is a follow-up to "Fresh Start" — draws from a Biden speech earlier in the week in Manitowoc, Wisconsin:

Trump prepares to announce Amy Coney Barrett as Supreme Court replacement

Judge Amy Coney Barrett. Photo: Matt Cashore/Notre Dame University via Reuters

President Trump is preparing to nominate federal appeals court Judge Amy Coney Barrett of Indiana, a favorite of both the social conservative base and Republican elected officials, to succeed Justice Ruth Bader Ginsburg, Republican sources tell Axios.

Why it matters: Barrett would push the already conservative court further and harder to the right, for decades to come, on the most important issues in American politics — from abortion to the limits of presidential power. If confirmed, she would give conservatives a 6-3 majority on the high court.