TKO Group to acquire IMG, Professional Bull Riders and On Location from Endeavor for $3.25 billion

Acquisition and Strategic Expansion - TKO Group, owner of WWE and UFC, is acquiring three businesses—Professional Bull Riders (PBR), On Location, and IMG—for $3.25 billion in an all-stock deal from Endeavor Group [1] - The acquisition increases Endeavor's ownership in TKO from 53% to 59% [1] - The deal broadens TKO's focus beyond league operations, adding luxury hospitality (On Location) and media rights consultancy (IMG) to its portfolio [1] - PBR, the world's largest bull riding league, hosts over 200 events annually, attracting more than 1 million fans [2] Business Details and Leadership - On Location provides luxury hospitality for major sporting events such as the Super Bowl, Ryder Cup, March Madness, FIFA World Cup, and Olympics [3] - IMG specializes in packaging and selling media rights and brand partnerships, offering strategic consultancy for major TV deals involving the NFL, English Premier League, NHL, MLS, UFC, WWE, and PBR [3] - The acquisition excludes IMG's licensing, modeling, tennis representation, and full events portfolio [3] - Sean Gleason, PBR CEO and Commissioner, will continue to lead the organization post-acquisition [2] Financial Initiatives - TKO announced an annual dividend of$ 300 million and authorized a share buyback program of up to $2 billion for its Class A common stock [3] Strategic Vision - TKO aims to strengthen its sports ecosystem by focusing on league ownership, ticket sales, hospitality, consumer products, and media rights expertise [2] - The acquisition aligns with TKO's strategy to diversify its revenue streams and enhance its presence in the sports and entertainment industry [1][2]