TKO Group Acquires PBR, IMG, and On Location in $3.25 Billion Deal

The acquisition from Endeavor Group expands TKO's portfolio in the premium sports market, enhancing its global sports footprint.

The all-equity transaction increases Endeavor's ownership of TKO from 53% to 59%.
The acquisition includes Professional Bull Riders, hospitality firm On Location, and sports media rights agency IMG.
TKO plans a $2 billion stock buyback and a $75 million quarterly cash dividend program.
Endeavor is divesting assets as it prepares to go private in a deal with Silver Lake.
The transaction is expected to close in the first half of 2025, pending regulatory approval.