UFC Owner Is Selling Part Of Its Stake In Fortnite Studio Epic, Report Says

One of Fortnite developer Epic Games' biggest minority investors, the talent agency Endeavor, which is also the owner of the UFC, is looking to offload some of its stake in the studio.

Sources told The Hollywood Reporter that Endeavor is moving to sell "a part of its stake" in Epic Games for a "high multiple." It's not clear exactly how many shares Endeavor is looking to sell.

The move comes during difficult times for Endeavor. Some of the company's biggest businesses include the talent agency WME and the UFC, which it owns. Those businesses have been rocked by the COVID-19 pandemic, and in response, Endeavor announced layoffs and furloughs impacting thousands of employees around the world. Selling a portion of its stake in Epic could be a move to shore up capital in the short-term to help weather the storm.

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