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NeuLion, Inc. Enters Into Agreement to be Acquired by Endeavor

Plainview, NY(3/27/2018) -

NeuLion, Inc. (TSX:NLN), a leading technology product and service provider specializing in the digital video broadcasting, distribution and monetization of live and on-demand content to Internet-enabled devices, and sports and entertainment leader Endeavor, today announced that they have entered into a definitive agreement by which Endeavor will acquire NeuLion in an all-cash deal valued at approximately USD $250 million.

Under the terms of the agreement, Endeavor will acquire each share of outstanding common stock of NeuLion for USD $0.84. Upon completion of the transaction, NeuLion will become a privately held subsidiary of Endeavor.

“We’re excited by the value delivered to our stockholders through this transaction, and we’re looking forward to the dynamic opportunities that being part of the Endeavor family will provide for both our current and new clients,” remarked Roy Reichbach, President & CEO, NeuLion.

“Through our content portfolio, client base, and broader network of rights holders we’ve encountered many different platforms for distributing and monetizing content,” said Ariel Emanuel, CEO, Endeavor. “NeuLion provides an ideal combination of technology and client services, and we’re excited for the value this brings to our existing partners and the foundation it provides for our future digital growth.”

The transaction, unanimously approved by NeuLion’s Board of Directors and by the written consent of holders of a majority of NeuLion’s outstanding common stock, is subject to regulatory approvals and other closing conditions, and is expected to close in the second quarter of 2018. The company expects to release its Q4 2017 earnings on March 30, 2018.

Paul Weiss, Rifkind, Wharton & Garrison LLP serves as Endeavor’s legal counsel, while The Raine Group acted as exclusive financial advisor to Endeavor. NeuLion’s legal advisor is Loeb & Loeb LLP, and its financial advisor is Needham & Company.

About NeuLion

NeuLion, Inc. (TSX:NLN) offers solutions that power the highest quality digital experiences for live and on-demand content in up to 4K/HDR on any device. Through its end-to-end technology platform, NeuLion enables digital video management, distribution and monetization for content owners worldwide including the NFL, NBA, UFC, EFL, Euroleague, World Surf League, Univision, Sky Sports, Eleven Sports Network and others. NeuLion powers the entire video ecosystem for content owners and rights holders, consumer electronic companies, and third party video integrators through its MainConcept business. NeuLion’s robust consumer electronics licensing business enables consumer electronics manufacturers to provide a secure, high-quality video experience with premium screen resolution, up to Ultra HD/4K, across virtually all content formats, for a wide range of connected devices. NeuLion is headquartered in Plainview, NY.

About Endeavor

Endeavor (formerly WME | IMG) is a global leader in sports, entertainment and fashion operating in more than 30 countries. Named one of Fortune’s 25 Most Important Private Companies, Endeavor is comprised of a number of industry-leading companies including WME, IMG and UFC. The Endeavor network specializes in talent representation and management; brand marketing, sponsorship and licensing; media sales and distribution; event operation and management; and sports training and league development.

NeuLion
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