TKO Buys On Location, IMG, Professional Bull Riders From Endeavor in $3.25 Billion All-Equity Deal
TKO Group Holdings, the sports giant that owns UFC and WWE, will acquire Professional Bull Riders, experience creator On Location and content company IMG from Endeavor in an all-equity transaction for $3.25 billion, the companies announced Thursday.
TKO also authorized a $2 billion share repurchase program for its Class A common stock, according to a company release. The program will include a new cash dividend program, with shareholders to receive a portion of $75 million in quarterly distributions.
“These moves highlight the strength of our business and our commitment to long-term value creation for shareholders,” said Ariel Emanuel, executive chair and CEO of TKO. “Our new share repurchase and dividend programs align with our balanced capital strategy.”
More to come …
