Superagent Ari Emanuel struggles to dump Miss Universe pageant for $20M: source

Famed superagent Ari Emanuel’s Endeavor is having an unpleasant time looking for a purchaser for his struggling magnificence pageant enterprise, and refuses to cut the worth, The Publish has realized.

Emanuel, the inspiration for fictional Hollywood agent Ari Gold in HBO’s hit present “Entourage,” has been purchasing round his Miss Universe enterprise for the final six months for $20 million, with no luck, a supply with data mentioned.

The hard-charging CEO of Endeavor, which owns the Final Combating Championship and the William Morris Expertise Company, snapped up the sweetness pageant group from Donald Trump in 2015 forward of his presidential bid.

Though the sale worth was not disclosed, monetary statements associated to Trump’s political marketing campaign mentioned the group was value between $5 million and $25 million and had $3.4 million in income. 

An individual aware of Miss Universe’s monetary scenario advised The Publish the group — which incorporates Miss USA and Miss Teen USA occasions — books $2 million in losses yearly, whereas producing income between $7 million and $9 million. 

Emanuel has been attempting to woo overseas traders based mostly in Asia and South America, the sources mentioned. An individual aware of Endeavor’s considering mentioned so as to offload the asset, the worth of Miss Universe could also be lowered slightly, however not a lot.

The mogul doesn’t like “admitting” he “misplaced cash” on something, so the worth seemingly gained’t be dropped “sufficient,” the particular person added. 

Endeavor declined to remark.

An individual aware of the scenario mentioned a purchaser is however declined to offer particulars.

The insider mentioned Miss Universe has been worthwhile on common since Endeavor purchased it — if the pandemic yr is stripped out. The group was pressured to cancel occasions in 2020.

Endeavor, which went public in 2021, has been seeking to prune some lackluster companies because it hunts for extra acquisitions and grows profitable, money-making divisions like MMA league UFC, insiders mentioned. 

The Miss Universe pageant, which was based in 1952, was first televised in 1955 by CBS. It emerged as a competitor to the Miss America pageant, which was based in 1921. Though the 2 pageants are sometimes confused, the Miss America pageant is owned by the nonprofit Miss America Group, which additionally runs a scholarship program that was launched in 1945.

Miss Universe’s rule ebook allowed solely single girls between 18 and 28 who’ve by no means been married or had kids to use. Lately, each occasions have tried to evolve previous their conventional roots as rankings plunged.

Final yr’s Miss Universe pageant, gained by India’s Harnaaz Sandhu, drew 2.7 million complete viewers on Fox — placing the community in final place among the many huge 4 broadcasters. The score marked a 30% dive from the three.8 million viewers the pageant drew in 2019. Simply two years earlier, in 2017, the pageant reeled in 5.2 million complete viewers. 

This yr’s pageant is slated for December and can once more be televised by Fox.

The drop in viewership additionally comes as critics query whether or not magnificence pageants are dated and hinder the reason for gender equality. The Miss America pageant minimize its swimsuit competitors in 2018 amid waning rankings that almost all lately dropped to three.6 million in 2020.

Final yr’s Miss Universe pageant welcomed its first transgender contestant, and subsequent yr’s will permit married girls and moms. 

For Endeavor, promoting off Miss Universe will assist it shore up money for different enterprise alternatives, a supply mentioned, noting that Emanuel has many funding concepts in thoughts.

Promoting off property has been a part of Endeavor’s playbook. Previous to going public, the media conglomerate, which has an funding arm, bought stakes in Epic Video games, maker of Fortnite, for about $80 million.

The corporate, which manages occasions for Trend Week occasions around the globe, varied PGA golf tournaments {and professional} tennis tournaments corresponding to Wimbledon and the Australian Open, additionally bought smaller investments in underperforming companies, forward of its second try and go public in 2021.

Endeavor, which reps the likes of Matt Damon, Oprah Winfrey and Christian Bale by means of its WME expertise company, tried and did not go public in 2019 as traders eschewed Endeavor’s hodgepodge of property and heavy debt load.

Two years later, the agency sweetened the pot, shopping for its remaining stake within the profitable UFC, which helped Endeavor go public at $24 a share final April. Within the final yr, Endeavor’s inventory has swung from a excessive of $34 to a newer low of round $22.

The inventory closed Thursday close to that low, at $22.55.