TKO Group to Acquire PBR, On Location, IMG

TKO Group Holdings Inc., the parent company of WWE and UFC, is set to acquire three businesses from Endeavor Group Holdings in an all-equity transaction valued at $3.25 billion. This acquisition includes Professional Bull Riders (PBR), On Location, and IMG, aiming to expand TKO's footprint in the premium sports market. PBR hosts over 200 events annually, attracting more than 1 million fans, while On Location and IMG offer premium experiences and sports media rights services, respectively. The acquisition is expected to close in the first half of 2025, with Endeavor increasing its ownership in TKO from 53% to 59%. TKO has also announced a $2 billion share repurchase program and a quarterly cash dividend program to deliver long-term shareholder value. Ari Emanuel, CEO of both Endeavor and TKO, emphasizes this move as part of a strategic expansion to unify sports and capitalize on growing demand.