More of former TKO Group Executive Chairman Vince McMahon‘s large stake in the company is changing hands, with Endeavor and TKO agreeing to buy a combined $311.2 million of his stock.
In an SEC filing, Endeavor Group said it would buy shares worth about $146.2 million. TKO Group Holdings, which Endeavor controls, will buy another $165 million in stock.
The moves follow recent comments about McMahon’s TKO position by Mark Shapiro, who is president and COO of TKO and Endeavor.
On TKO’s quarterly earnings call in February with Wall Street analysts, he said the company was “on the sideline” waiting to see if McMahon would be shedding any more of his holdings.
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