TKO Group to Acquire PBR, On Location, and IMG in $3.25 Billion Deal
TKO Group, the parent company of WWE and UFC, has announced its acquisition of Professional Bull Riders (PBR), On Location, and IMG from Endeavor Group in an all-stock deal valued at $3.25 billion.
This transaction is part of Endeavor’s ongoing efforts to streamline its portfolio as it moves towards becoming a private entity in a proposed deal with private equity firm Silver Lake.
The acquisition significantly broadens TKO’s reach within the premium sports sector. PBR, the premier bull riding league, boasts over 200 live events each year, attracting around 1.25 million fans and reaching 285 million households in more than 65 territories. On Location, a leader in live event hospitality, manages over 1,200 major sporting events, including the Super Bowl and the FIFA World Cup. IMG provides media rights management, brand partnerships, and event consultancy for a wide range of sports organizations, including the NFL and the NHL.
TKO Group’s Chief Operating Officer, Mark Shapiro, emphasized the strategic value of the acquisition, stating that these assets will enhance TKO’s portfolio and strengthen its global position in premium sports. The deal is expected to close in the first half of next year, with Endeavor maintaining a 59% stake in TKO upon completion.
In addition to the acquisition, TKO also announced a stock buyback program of up to $2 billion and introduced a quarterly dividend for its shareholders.
The Associated Press, CNBC, and Business Wire contributed to this report.
