Endeavor, a leading global sports and entertainment company, has announced that it is selling three of its subsidiaries, IMG, Professional Bull Riders (PBR), and On Location, to TKO Group for a total of $3.25 billion.
IMG is a global sports and entertainment agency representing various athletes, celebrities, and brands. The company also manages sports events and properties, including the Wimbledon tennis tournament and the UFC mixed martial arts league.
PBR is the world’s leading professional bullriding organization. The company produces live events, television broadcasts, and digital content related to bull riding.
On Location is a premium experiential entertainment company that provides VIP experiences and hospitality services for major sporting events and concerts.
The acquisition of IMG, PBR, and On Location by TKO Group is a significant transaction that will create a major player in the global sports and entertainment industry. TKO Group is a private equity firm with a focus on sports and media investments.
Subject to regulatory approval, the acquisition is expected to be completed in the fourth quarter of 2024. Once the deal is finalized, TKO Group will become the parent company of IMG, PBR, and On Location.
The acquisition of these three subsidiaries will provide TKO Group with a diversified portfolio of assets and significant opportunities for growth. IMG, PBR, and On Location are all well-established brands with strong market positions.
The deal also reflects the ongoing consolidation in the sports and entertainment industry. As companies seek to scale and diversify their revenue streams, mergers and acquisitions are becoming increasingly common.
The acquisition of IMG, PBR, and On Location by TKO Group is a major development that will have a significant impact on the global sports and entertainment landscape. The combined company will be a powerful force in the industry, with a wide range of assets and opportunities for growth.
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