TKO Group Will Acquire PBR, IMG and On Location From Majority Owner Endeavor in $3.25 Billion Deal
variety.comTodd Spangler NY Digital Editor Ari Emanuel’s Endeavor is transferring several sports assets — including the Professional Bull Riders — to TKO Group, the holding company of WWE and UFC.
TKO announced it has reached a definitive agreement with Endeavor Group (which owns a majority stake in TKO) to acquire PBR, On Location, and IMG in an all-stock transaction valued at $3.25 billion.
The company said “the strategic acquisition of these sports and hospitality assets from Endeavor expands TKO’s operational footprint in the fast-growing premium sports market and enables direct participation in the upside from partner leagues and events.” Following the transaction, Endeavor expects to own approximately 59% of TKO alongside the other existing TKO shareholders, who will own the remaining 41%.
The transaction is subject to purchase price adjustments to be settled in cash and equity, according to Endeavor. It’s expected to close in the first half of 2025, subject to customary closing conditions and required regulatory approvals (with no additional stockholder approval required).
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