LOS ANGELES (CelebrityAccess) — TKO Group Holdings, Inc., a sports and entertainment company created by Endeavor, announced it has agreed to acquire the sports brands Professional Bull Riders (“PBR”), On Location, and IMG in an all-equity transaction valued at $3.25 billion.
PBR is the leading bull riding league and stages approximately 200 events a year, annually drawing more than 1.25 million fans and reaching more than 285 million households, according to TKO. PBR CEO and Commissioner Sean Gleason will continue to lead the organization, following the acquistion.
On Location provides premium fan experiences for more than 1,200 sporting events annually, including including the Super Bowl, Ryder Cup, NCAA Final Four, FIFA World Cup 26, and the 2026 and 2028 Olympic and Paralympic Games, as well as live events. On Location will continue to be led by president Paul Caine after the company transitions to TKO.
IMG is one of the world’s largest distributors and producers of sports content, packages and sells media rights and brand partnerships, as well as consulting services. IMG provides consultancy, digital services, and event management for more than 200 rightsholder, with a client list that includes the National Football League, English Premier League, International Olympic Committee, National Hockey League, Major League Soccer, ATP and WTA Tours, the All England Lawn Tennis & Croquet Club (Wimbledon), EuroLeague Basketball, DP World Tour, and The R&A, as well as UFC, WWE, and PBR.
The deal does not include IMG’s licensing, models, and tennis representation business nor the company’s full events portfolio. IMG president Adam Kelly will continue his leadership role following the acquisition.
The sports properties will expand TKO’s portfolio, which already includes the professional wrestling promoter WWE and the mixed martial artists promotion UFC.
“Today’s announcements reflect the continued strength of our underlying business and our commitment to deploying capital through a balanced capital allocation strategy, including through our share repurchase program and quarterly cash dividend program. This underscores our continued focus on delivering sustainable long-term value for our shareholders,” said Ariel Emanuel, Executive Chair and CEO of TKO.
“PBR, On Location, and IMG are industry-leading assets that meaningfully enhance TKO’s portfolio and strengthen our position in premium sports globally. Within TKO, they will help power the growth of our revenue streams and position us to capture even more upside from some of the most attractive parts of our sports ecosystem: media rights, live events, ticket sales, premium experiences, brand partnerships, and site fees. These assets are already built into our business strategy at TKO and will serve to further enhance our strong track record of execution across UFC and WWE,” added TKO Executive Chair and President Mark Shapiro.
