Case Study: CJ ENM
Guiding an Entertainment Leader’s International Expansion
O’Melveny advised CJ ENM, the leading entertainment company originated from Korea, in a definitive agreement to acquire an 80% stake of the scripted business of US-based global premium content studio, Endeavor Content, from its parent company Endeavor Group Holdings for an enterprise valuation of US$850 million.
The transaction was announced on November 18 and is expected to close early in the first quarter of 2022.
Headquartered in Seoul, Korea, CJ ENM is best known for its recent multiple Academy Award-winning film Parasite. CJ ENM’s entertainment division engages in a wide array of businesses across the industry spectrum, including media content, music, film, performing arts, and animation. This acquisition is the largest M&A for CJ ENM, which first invested in DreamWorks and jumped into the content business 26 years ago.
Based in Beverly Hills, California and launched in 2017, Endeavor Content is a production advisory, sales, and distribution studio that has owned, financed, and/or sold more than 125 films and television series that have garnered more than 69 Emmy wins and nominations and 59 Academy Award wins and nominations.