Ari Emmanuel’s Endeavor is shuffling its sports entertainment deck.
Endeavor’s majority-owned sports entertainment group TKO is purchasing IMG, On Location and Professional Bull Riders (PBR) from its parent company in a $3.25B all-equity deal, an announcement today revealed.
TKO is already the parent of the WWE and UFC, and will now house more of Endeavor’s assets, with sports and media agency IMG, hospitality company On Location and bull riding league PBR added to the group.
In further news, TKO’s board has authorized a share repurchase program of up to $2B of Class A common stock.
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