WWE, UFC Parent TKO To Buy PBR, IMG, On Location From Endeavor In $3.25B Deal

TKO, the parent company of wrestling promotion WWE and MMA giant UFC, will purchase Professional Bull Riders, On Location and IMG from Endeavor.

The $3.25 billion deal is all stock and will increase Endeavor’s ownership in TKO from 53% to 59%. TKO was formed in September 2023 by merging WWE and UFC, which were both owned by Endeavor, and then spinning them off. Ariel Emanuel, who serves as CEO of Endeavor, also serves as CEO and executive chairman of TKO.

The sale is part of the on-going effort by Endeavor to shed assets as private equity firm Silver Lake attempts to take it private, a move that was announced in April.

PBR puts on more than 200 annual live events, drawing more than 1.25 million people and reaching more than 285 million television viewers. On Location is an events services company. IMG is an event management, digital services, consulting and media rights company.

“PBR, On Location, and IMG are industry-leading assets that meaningfully enhance TKO’s portfolio and strengthen our position in premium sports globally,” TKO Chief Operating Officer Mark Shapiro said in a statement. “Within TKO, they will help power the growth of our revenue streams and position us to capture even more upside from some of the most attractive parts of our sports ecosystem: media rights, live events, ticket sales, premium experiences, brand partnerships, and site fees.”

The deal is expected to close in the first half of 2025.