Musk Nominated To Join Board Of Directors At US Entertainment Giant - IPO Filing

Musk Nominated to Join Board of Directors at US Entertainment Giant - IPO Filing

MOSCOW (UrduPoint News / Sputnik - 01st April, 2021) Tesla and SpaceX CEO Elon Musk has been nominated to join the board of directors of the Endeavor Group Holdings as it intends to go public in the near future, according to the IPO filing by the media and entertainment giant on Wednesday.

"Mr. Musk was selected to serve on our board of directors because of his professional background and experience running a public company, his previously held senior executive-level positions, his service on other public company boards and his experience starting, growing and integrating businesses," the company stated in the document.

Endeavor was founded in 2009 by Ari Emanuel, a prominent Hollywood talent agent. The company has grown into a media and entertainment conglomerate that currently manages live events, including the UFC, New York Fashion Week and the Miss Universe international beauty pageant.

The company has long been planning to go public. The first announcement came in 2019, but the IPO was soon scrapped due to low investor demand. This will be Endeavor's second attempt at going public after reporting a total sales of $3.48 billion and a net loss of $625.3 million in 2020 after pandemic shutdowns.