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TKO Group is acquiring IMG, Professional Bull Riders and On Location from parent company Endeavor Group in a $3.25 billion all-equity deal.

Why it matters: TKO Group, parent company of the WWE and UFC, is expanding its operation beyond league ownership.

Zoom in: The deal branches TKO Group into the media rights and event hospitality businesses while also gaining another sports league.

IMG packages and sells media rights and brand partnerships. It's also consulted on top media rights deals for clients including the NFL, Premier League, NHL and MLS.

The IMG deal does not include "businesses associated with the IMG brand in licensing, models, and tennis representation, nor IMG's full events portfolio," Endeavor said in a press release.

On Location provides luxury hospitality for major events including the Super Bowl, Final Four and World Cup.

PBR stages around 200 annual live events for more than 1 million fans.

Between the lines: As part of the deal, Endeavor increases its ownership in TKO from 53% to 59%.

The transaction is expected to close in the first half of next year.

Catch up quick: Endeavor has been seeking to divest assets since private equity firm Silver Lake agreed to take it private in a $13 billion deal back in April.

Endeavor is also looking to offload its sports betting and data businesses OpenBet and IMG Arena.

Endeavor's ownership in TKO was not part of the Silver Lake deal.

The bottom line: When all is said and done, Endeavor will largely consist of talent agency WME and a few other smaller assets like marketing firm 160Over90, New York Fashion Week, the Frieze Art Fair and the Miami Open tennis tournament.

Endeavor to sell sports and hospitality businesses to TKO for $3.25B

The WWE and UFC parent expands into hospitality and media rights.

Ari Emanuel attends the UFC 306 at Riyadh Season Noche UFC event at Sphere on September 14, 2024 in Las Vegas, Nevada

Ari Emanuel, CEO of Endeavor and TKO Group. Photo: Jeff Bottari/Zuffa LLC

Sports

TKO Group is acquiring IMG, Professional Bull Riders and On Location from parent company Endeavor Group in a $3.25 billion all-equity deal.Why it matters: <a class="gtmContentClick" data-vars-link-text="TKO Group" data-vars-click-url="https://www.axios.com/2023/09/12/endeavor-ufc-wwe-tko" data-vars-content-id="552f82f4-cd38-4649-b74d-4d3cb5d20268" data-vars-headline="Endeavor to sell sports and hospitality businesses to TKO for $3.25B" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2023/09/12/endeavor-ufc-wwe-tko" target="_self">TKO Group</a>, parent company of the <a class="gtmContentClick" data-vars-link-text="WWE and UFC" data-vars-click-url="https://www.axios.com/2023/04/03/endeavor-acquires-wwe-9b-combine-ufc" data-vars-content-id="552f82f4-cd38-4649-b74d-4d3cb5d20268" data-vars-headline="Endeavor to sell sports and hospitality businesses to TKO for $3.25B" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2023/04/03/endeavor-acquires-wwe-9b-combine-ufc" target="_self">WWE and UFC</a>, is expanding its operation beyond league ownership.

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Endeavor to sell sports and hospitality businesses to TKO for $3.25B

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