Shares of Endeavor Group (NYSE: EDR) were soaring on reports that private equity group Silver Lake was angling to buy the Hollywood talent agency.

As of 12:34 p.m. ET, the stock was up 23.1% on the news.

Silver Lake is planning to make a bid for Endeavor, the massive talent agency run by Ari Emanuel, who was made famous in the HBO series Entourage. Endeavor owns a number of subsidiaries and is the majority owner of TKO Group, the parent of UFC and WWE.

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Source Fool.com