Saudi Sovereign-Wealth Fund Moves to Buy Stake in Talent Agency

Mony
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Saudi Arabia’s sovereign-wealth fund is moving to buy a stake in Endeavor LLC, a company that includes the world’s largest talent agency, Saudi officials said, as the kingdom builds an entertainment industry with a once-unthinkable partner: Hollywood.

Saudi Crown Prince Mohammed bin Salman wants to complete the $400 million purchase of less than 10% of Endeavor—where co-CEO Ari Emanuel was once President Donald Trump’s celebrity agent—during his two-week visit to the U.S., which begins Monday, the officials said.

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