Stay up to date with notifications from The Independent

Notifications can be managed in browser preferences.

Parent of WWE and UFC is buying Professional Bull Riders, On Location and IMG for $3.25 billion

TKO Group, the sports entertainment company that houses WWE and UFC, is buying Professional Bull Riders, On Location, and IMG from Endeavor Group in a deal valued at $3.25 billion

Michelle Chapman
Thursday 24 October 2024 07:34 EDT
TKO Group-Acquisition
TKO Group-Acquisition (Copyright 2019 The Associated Press. All rights reserved)

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

The parent company of WWE and UFC is buying Professional Bull Riders, On Location, and IMG in a deal valued at $3.25 billion.

Professional Bull Riders is a bull riding league that has more than 200 annual live events, approximately 1.25 million fans, and reaches more than 285 million households in more than 65 territories. On Location provides premium experiences for fans attending more than 1,200 sporting events, such as the Super Bowl, Ryder Cup and NCAA Final Four. IMG is a distributor and producer of sports content, packages and sells media rights and brand partnerships, and provides consulting, digital services and event management to clients such as the National Football League and National Hockey League.

Parent company TKO said Thursday that the acquisition from Endeavor Group will complement its existing businesses as well as broaden its reach in the premium sports market.

As part of the deal, Endeavor will receive about 26.14 million common units of TKO Operating Co. and will subscribe for an equal number of shares of TKO’s Class B shares. Endeavor is expected to own approximately 59% of TKO, while TKO's existing shareholders will own the remaining 41% upon completion of the transaction.

The transaction is expected to close in the first half of next year.

TKO Group also announced Thursday that its board has approved the repurchase of up to $2 billion of its common stock.

Shares of TKO Group Holdings Inc., based in Stamford, Conn., rose more than 1% before the opening bell Thursday.

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in