Endeavor to Acquire NeuLion Inc in $250 Million All-Cash Deal

Under the Terms of the Agreement, Endeavor Will Acquire Each Share of Outstanding Common Stock of NeuLion for USD $0.84

NeuLion Inc., a leading technology product and service provider specializing in the digital video broadcasting, distribution and monetization of live and on-demand content to Internet-enabled devices, and sports and entertainment leader Endeavor, recently announced that they have entered into a definitive agreement by which Endeavor will acquire NeuLion in an all-cash deal valued at approximately USD $250 million.

Under the terms of the agreement, Endeavor will acquire each share of outstanding common stock of NeuLion for USD $0.84. Upon completion of the transaction, NeuLion will become a privately held subsidiary of Endeavor.

Roy Reichbach

“We’re excited by the value delivered to our stockholders through this transaction, and we’re looking forward to the dynamic opportunities that being part of the Endeavor family will provide for both our current and new clients,” remarked Roy Reichbach, President & CEO, NeuLion.

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Ari Emanuel

Ari Emanuel, CEO, Endeavor, added, “Through our content portfolio, client base, and a broader network of rights holders we’ve encountered many different platforms for distributing and monetizing content. NeuLion provides an ideal combination of technology and client services, and we’re excited about the value this brings to our existing partners and the foundation it provides for our future digital growth.”

The transaction, unanimously approved by NeuLion’s Board of Directors and by the written consent of holders of a majority of NeuLion’s outstanding common stock, is subject to regulatory approvals and other closing conditions and is expected to close in the second quarter of 2018. The company expects to release its Q4 2017 earnings on March 30, 2018.

Paul Weiss, Rifkind, Wharton & Garrison LLP serves as Endeavor’s legal counsel, while The Raine Group acted as exclusive financial advisor to Endeavor. NeuLion’s legal advisor is Loeb & Loeb LLP, and its financial advisor is Needham & Company.

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