Friday, November 8, 2024
spot_imgspot_img

Top 5 This Week

spot_imgspot_img

Related Posts

Parent company of WWE and UFC to acquire Professional Bull Riders, On Location and IMG


TKO Group, the parent company of WWE and UFC, has announced the acquisition of Professional Bull Riders, On Location, and IMG from Endeavor Group in a deal valued at $3.25 billion. This move is part of Endeavor’s strategy to shed assets as it explores going private with private equity firm Silver Lake.

Professional Bull Riders is a popular bull riding league with a large fanbase and reach, while On Location specializes in live event experiences for major sporting events. IMG is known for its sports content distribution and partnerships with organizations like the NFL and NHL.

TKO Group sees these acquisitions as an opportunity to enhance its portfolio, expand its presence in the premium sports market, and improve revenue streams. The deal includes Endeavor receiving common units and shares of TKO, making Endeavor the majority owner with approximately 59% ownership.

The transaction is expected to be completed in the first half of the next year. In addition, TKO Group’s board has approved the repurchase of up to $2 billion of its common stock. Shares of TKO Group Holdings Inc. rose more than 1% before the opening bell, indicating positive investor sentiment towards the deal.

Overall, this acquisition marks a significant move in the sports and entertainment industry, as TKO Group strengthens its position and expands its offerings in the premium sports market.

Source
Photo credit www.denver7.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Popular Articles