Featured Image: Grant Thomas on Unsplash
TKO Group Holdings has closed its acquisition of IMG, On Location and Professional Bull Riders (PBR) from Endeavor Group Holdings.
The deal was first announced back in October, with all three to be acquired in an all-equity transaction valued at $3.25bn (£2.6bn/€3.1bn).
IMG is a sports marketing agency servicing more than 200 rights holders including The R&A, the All England Lawn Tennis Club (Wimbledon) and Major League Soccer. On Location is a provider of premium hospitality and live experience, and is an official partner for the likes of the FIFA Men’s World Cup 2026, the Milano-Cortina 2026 Winter Olympics and the Los Angeles 2028 Olympic and Paralympic Games. PBR promotes more than 200 global events every year.
TKO’s existing portfolio includes mixed martial arts organisation UFC, and wrestling and sports entertainment property WWE.
“These industry-leading businesses will strengthen our portfolio of world-class IP and capabilities, helping us further capitalise on the momentum of the growing sports and entertainment ecosystem,” said Mark Shapiro, President and chief operating officer 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.”
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 will remain part of Endeavor.
Morgan Stanley & Co served as financial advisor to TKO, while The Raine Group served as financial advisor and Latham & Watkins served as legal advisor to Endeavor. Moelis & Company served as financial advisor, and Skadden, Arps, Slate, Meagher & Flom served as legal advisor to TKO’s special committee.
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