TKO Group to acquire IMG, Professional Bull Riders and On Location from Endeavor for $3.25 billion

▤ Summary

The transaction expands TKOs strategic ambitions by broadening its sports focus beyond the operation of leagues. "Sports unify us and have never been in more demand," said Mark Shapiro, president and chief operating officer of both Endeavor and TKO, in an interview. "At TKO, were primarily interested in league ownership if that exists and businesses that can power our current sports ecosystem. PBR CEO and Commissioner Sean Gleason will continue to lead the organization, TKO said in a statement. In addition to the transaction, TKO also announced it is initiating an annual dividend of $300 million and has authorized a share buyback program of up to $2 billion for its Class A common stock.

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