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Market
How will TKO Group's market cap change by June 30, 2025, after acquisition and buyback?
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TKO Group Holdings•WWE•UFC•Endeavor Holdings•Professional Bull Riders•PBR•On Location•IMG•Endeavor•TKO Operating Company•TKO
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Story
TKO Group Acquires PBR, IMG, and On Location from Endeavor in $3.25B Deal, Announces $2B Buyback
Oct 24, 2024, 12:05 PM
TKO Group Holdings, the parent company of WWE and UFC, announced it will acquire several sports assets from Endeavor Holdings in an all-equity deal valued at $3.25 billion. The assets being acquired include Professional Bull Riders (PBR), On Location, and IMG, including its media rights consultancy business. As a result of the transaction, Endeavor will receive approximately 26.14 million common units of TKO Operating Company, increasing its ownership stake in TKO from 53% to approximately 59%. Additionally, TKO announced a $2 billion share repurchase program, which equals approximately one-fifth of its current market capitalization, and initiated a quarterly dividend program allocating $75 million to shareholders. The transaction is expected to close in the first half of 2025, pending customary closing conditions and regulatory approvals.
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