TKO Finalizes Acquisitions of On Location, IMG, & Professional Bull Riders

TKO Group announced earlier today that they have officially finalized the acquisitions of IMG, On Location, and Professional Bull Riders (PBR) from their parent company Endeavor Group Holdings, Inc.

This acquisition deal for TKO had been in the works since this past October.

IMG, On Location, and PBR joins TKO’s umbrella of sports properties which includes WWE and UFC.

Official press release:

TKO Completes Acquisition of Sports Assets from Endeavor

IMG, On Location, and PBR embolden TKO’s portfolio

NEW YORK and BEVERLY HILLS, CA (February 28, 2025) – TKO Group Holdings, Inc. (“TKO”) (NYSE: TKO), a premium sports and entertainment company, today announced the close of its acquisition of IMG, On Location, and Professional Bull Riders (“PBR”) from Endeavor Group Holdings, Inc. (“Endeavor”) (NYSE: EDR).

“These industry-leading businesses will strengthen our portfolio of world-class IP and capabilities, helping us further capitalize on the momentum of the growing sports and entertainment ecosystem,” said Mark Shapiro, President and COO of TKO. “By enhancing our expertise in sports rights, production, and premium events and experiences, we are better positioned to power the growth of UFC, WWE, and our extraordinary roster of partners.”

IMG is a leading global sports marketing agency servicing more than 200 rightsholders – including The R&A (The British Open), the All England Lawn Tennis Club (Wimbledon), and Major League Soccer (MLS) – across media rights, production, brand partnerships, digital content, and event management. On Location is a leading provider of premium hospitality and live experiences for more than 1,200 sporting events, including all premier NFL events, FIFA World Cup 26^TM, and the Milano Cortina 2026 and Los Angeles 2028 Olympic Games. PBR is the world’s premier bull riding organization, promoting more than 200 global events annually.

TKO’s acquisition of IMG does not include businesses associated with the IMG brand in licensing, models, and tennis and golf representation, nor IMG’s full events portfolio, which remain part of Endeavor.

Advisors

Morgan Stanley & Co. LLC served as financial advisor to TKO. The Raine Group served as financial advisor and Latham & Watkins LLP served as legal advisor to Endeavor. Moelis & Company LLC served as financial advisor to TKO’s special committee and Skadden, Arps, Slate, Meagher & Flom LLP as legal advisor to TKO’s special committee.