TKO Acquires Professional Bull Riders From Endeavor

WWE and UFC are no longer the only two companies owned by TKO Group Holdings.

It was announced today that TKO would acquire Professional Bull Riders, On Location, and IMG from Endeavor in an all-stock transaction valued at $3.25 billion. The deal will increase Endeavor's ownership stake in TKO from 53 per cent to 59 per cent.

Ari Emanuel, CEO of TKO and Endeavor, said: "Today's announcements reflect the continued strength of our underlying business and our commitment to deploying capital through a balanced capital allocation strategy, including through our share repurchase program and quarterly cash dividend program. This underscores our continued focus on delivering sustainable long-term value for our shareholders."

Private equity firm Silver Lake announced earlier this year they planned to take Endeavor private. Silver Lake wanted to sell off some assets as part of the transaction, TKO and Endeavor President Mark Shapiro told CNBC, which led to Endeavor approaching the TKO Board about buying the businesses. A special committee was then formed by TKO, and the purchases were recommended to the board.

TKO was formed in September 2023 as part of the UFC-WWE merger, which came together after Vince McMahon agreed to sell WWE to Endeavor earlier that year.

Professional Bull Riders is a bull riding league that holds over 200 events annually.

On Location is a luxury hospitality company and has been working with WWE in recent years to provide packages for premium live events/pay-per-views.

IMG packages and sells media rights and brand partnerships. The company has worked with the NFL, English Premier League, National Hockey League, and WWE in the past.