[ad_1]
TKO Group, owner of WWE and UFC, is expanding its portfolio by acquiring three sports-adjacent businesses for $3.25 billion from Endeavor Group. The businesses include Professional Bull Riders, On Location, and IMG. The deal is all stock, with Endeavor’s ownership in TKO increasing from 53% to 59%.

This strategic move broadens TKO’s sports focus beyond league operations. Along with acquiring the world’s largest bull riding league, PBR, TKO is venturing into luxury hospitality with On Location and media rights consultancy through IMG.

Mark Shapiro, president and COO of Endeavor and TKO, expressed the importance of sports in unifying people and the high demand for them. The acquisition of IMG and On Location will enhance TKO’s sports ecosystem, offering services like ticket sales, hospitality, consumer products, and media rights expertise.

Private equity firm Silver Lake had intentions to take Endeavor private earlier this year, leading to the divestment of certain assets. The special committee organized by TKO examined and recommended the acquisition of the three businesses.

PBR hosts over 200 events annually for more than 1 million fans, with CEO Sean Gleason continuing to lead the organization. On Location provides luxury hospitality for major sporting events, while IMG specializes in packaging and selling media rights and brand partnerships for various sports properties.

In addition to the acquisition, TKO announced an annual dividend of $300 million and the authorization of a share buyback program of up to $2 billion for its Class A common stock.

[ad_2]
SOURCE