TKO Group Holdings, Inc., the parent company of World Wrestling Entertainment (WWE) and the Ultimate Fighting Championship (UFC), has officially announced that they have completed the purchase of sports sections from Endeavor. The acquisitions consist of Professional Bull Riders (PBR), On Location, and IMG.
The formal declaration can be found here:
“TKO Finishes Sports Assets Takeover From Endeavor. PBR, On Location, and IMG strengthen TKO’s portfolio.”
“BEVERLY HILLS, Calif. and NEW YORK – Business Wire – Freshly declared today by TKO Group Holdings, Inc. (NYSE: TKO), a prominent company in sports and entertainment, is the completion of their procurement of IMG, On Location, and Professional Bull Riders (“PBR”) from Endeavor Group Holdings, Inc. (NYSE: EDR).
Mark Shapiro, President and COO of TKO, said, “The addition of these leading businesses will boost our collection of top-notch IP and competencies, thereby allowing us to further take advantage of the burgeoning sports and entertainment ecosystem. By augmenting our proficiency in sports rights, production of premium events, and experience, we are in a stronger position to propel the growth of UFC, WWE, and our extensive list of associates.”
IMG stands as a global sports marketing agency taking the lead and providing services to over 200 rightsholders – these include the All England Lawn Tennis Club (Wimbledon), The Royal & Ancient (The British Open), and Major League Soccer (MLS) – in aspects ranging across media rights, brand partnerships, digital content, event management, and production. Working as a premium provider of hospitality and live experiences for more than 1,200 sporting events is On Location. Included in these events are all premier NFL events, FIFA World Cup 26™, along with the Los Angeles 2028 and Milano Cortina 2026 Olympic Games. Lastly, PBR is a global premier organization for bull riding, organizing over 200 global events annually.
However, Buyout of IMG by TKO will not encompass businesses associated with IMG branding in areas such as licensing, tennis and golf representation, and models. Nor will it include the comprehensive events portfolio of IMG. All these will remain a part of Endeavor.
TKO relied on Morgan Stanley & Co. LLC for financial advising. Endeavor’s financial advising was looked after by The Raine Group and Latham & Watkins LLP as legal advisors. Financial advice to TKO’s special committee came from Moelis & Company LLC, and Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor.”