EndeavorCEOAri Emanuelisnt making many predictions or taking sides as theWGAdeadline approaches.
There are important issues on both sides, Emanuel said.
We support our clients as they work through their issues with the studios.
Chris Unger/Zuffa
He added that he has been through many strikes over the years, giving him perspective on the currentlaborscene.
So, I think were pretty well-positioned.
That theme was a prominent one on the earnings call.
CFO Jason Lublin noted that more than 50% of WME revenue comes from non-film or TV activity.
Even top player Netflix has reined things in and newer rivals are pledging moderation.
Emanuel was asked about any potential impact of a pullback on the agency business.
There are some spending more, some spending less, he mused.
Endeavors April 2021 IPO changed that, and also unlocked enormous wealth for Emanuel and senior management.
Friction with the WGA and otherguildshas occasionally prompted business changes even outside of contract negotiations with producers.
Endeavor retained a 20% stake in Fifth Season, but CJ directly manages the operation.
Were truly focused, as Jason said, on de-levering.
Were not going to do anything that would increase our leverage.
Nevertheless, Emanuel noted that the WWE is a valuable business.
