From CNBC: 2024-10-24 09:40:19

– TKO Group, which owns WWE and UFC, is acquiring three businesses for $3.25 billion from Endeavor Group, expanding its sports-adjacent properties.

– The acquired businesses include Professional Bull Riders, On Location, and IMG, all in an all-stock deal increasing Endeavor’s ownership in TKO to 59%.

– TKO’s strategic expansion includes PBR, luxury hospitality with On Location, and media rights consultancy through IMG.

– Silver Lake plans to take Endeavor private, leading to the sale of certain assets to TKO, recommended by a special board committee.

– PBR hosts over 200 events annually, On Location offers luxury hospitality at major sporting events, and IMG sells media rights consultancy services for various sports leagues.

– TKO also initiates an annual dividend of $300 million and authorizes a share buyback program of up to $2 billion for its Class A common stock.



Read more at CNBC: TKO Group to acquire IMG, PBR and On Location from Endeavor