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Report: Endeavor planning sale of Epic stake

Report: Endeavor planning sale of Epic stake

Entertainment company Endeavor is reportedly planning to sell its stake in Fortnite maker Epic Games.

That's according to The Hollywood Reporter, which says that Endeavor is planning to sell its shares in the company after being hit hard by the coronavirus pandemic. The company – which owns talent agency WME and the UFC MMA organisation – has said it is going to have to layoff or furlough about a third of its 7,500 staff around the world.

This news comes shortly after a report in April that Epic was looking to raise between $500m and $1bn in additional funding. This apparently valued the games studio at $15bn. In 2018, a group of investors bought a $1.25bn stake in the Fortnite maker.

The firm announced yesterday (Wednesday, May 6th) that Fortnite now boasts 350m players, almost double the 200m the free-to-play battle royale title had in November 2018. The company also said that the game has been played for 3.2bn hours to date, meaning that users spent around nine hours in Fortnite on average.

Epic recently hired Nike veteran Adam Sussman as its new president


Editor - PC Games Insider

Alex Calvin is a freelance journalist who writes about the business of games. He started out at UK trade paper MCV in 2013 and left as deputy editor over three years later. In June 2017, he was hired to launch PCGamesInsider.biz for Steel Media before departing the firm in October 2019.

He has also written for GamesIndustry.biz, VGC, Games London, The Observer/Guardian and Esquire UK.

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