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Endeavor Makes Last-Minute Call to Yank IPO as Conditions Sour

  • Hollywood agency had planned to began trading on Friday
  • The IPO is now delayed until next year at the earliest
Ari Emanuel speaks at the 2017 LACMA Art + Film Gala.

Ari Emanuel speaks at the 2017 LACMA Art + Film Gala.

Photographer: Stefanie Keenan/Getty Images for LACMA

Updated on

In a last-minute decision befitting a Hollywood thriller, Endeavor Group Holdings Inc. called off its $405 million initial public offering late Thursday, hours before the stock was set to begin trading.

The talent agency and entertainment conglomerate -- run by media mogul Ari Emanuel -- decided to postpone the stock sale after an IPO flop by Peloton Interactive Inc. on Thursday. Endeavor’s offering now won’t happen until next year at the earliest, according to a person familiar with the matter. Endeavor had already reduced the size and price before ultimately deciding to pull the listing.