1 month ago
Endeavor is removing itself from a deal with the Saudi Arabian government to invest $400 million into the company over the disappearance and alleged murder of a prominent journalist, according to The Hollywood Reporter.
The move comes as multiple companies and people take stands against the kingdom following the disappearance of Saudi journalist Jamal Khashoggi, who wrote for The Washington Post.
THR writes that paperwork is being drawn up to terminate the deal with the Saudi Arabian sovereign wealth fund, which was created by the government to back projects at home and abroad, to take a five to 10 percent stake in Endeavor.
Endeavor CEO Ari Emanual said he was “monitoring” the situation and is personally “really concerned.” Endeavor is not the only Hollywood entity who is known to do business with the Saudi government. AMC, Imax, World Wrestling Entertainment and others all have “significant entanglements,” reports THR.
Khashoggi went missing Oct. 2 after entering the Saudi consulate in Turkey, and reports suggest he was killed and dismembered during an interrogation there. The Saudi royals have to date denied any knowledge of the fate of their high-profile critic.Read the full story at The Hollywood Reporter