Endeavor, the talent and sports group, is going private after a less-than-satisfactory three-year stint on the stock market.
Silver Lake, the company's main shareholder with a 71% stake, is bidding $13bn, or $27.50 a share for the business. That's a 55% premium to the price back in October when a deal was first mooted.
Endeavor, whose interests span Hollywood talent management to sports rights, is probably best known for merging its Ultimate Fighting Championship with World Wrestling Entertainment in a $21 billion deal, creating a company called TKO, which will remain listed.
This acquisition marks one of the largest private equity takeovers in recent years. Silver Lake has pursued significant investments lately, including Qualtrics and Software AG.