WWE Parent Company TKO Announces Acquisitions Of IMG, Professional Bull Riders, On Location

SI Wrestling Staff | Oct 24, 2024

WWE

TKO Group Holdings, owners of UFC and WWE, have announced their first major acquisitions since forming back in September 2023, adding three sports assets to their portfolio. The trasaction has been valued at $3.25 billion.

In addition to the acquisitions, the company also announced that the board of directors authorized a share repurchase of up to $2 billion of Class A common stock.

IMG

IMG is one of the world's largest sports content distributors, selling media rights, content packages, digital services and brand partnerships, representing over 200 rights holders. Thier star-studded list of clients include the NFL, English Premier League, NHL, MLS, and many others.

PBR

PBR is the world's premier bull riding league. Their events attract nearly 1.25 million fans per year and reach over 285 million households via TV and streaming.

On Location

On Location is a premium event experience provider, managing over 1200 sporting events per year including the Super Bowl, FIFA World Cup 2026, NCAA Final Four and more.

Here’s to the next chapter, meet TKO! 💪@ufc @WWE pic.twitter.com/GlHsjExgtz

— TKO (@TKOGrp) September 12, 2023

TKO CEO Ari Emanuel said: “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.”

Mark Shapiro, President and COO commented: "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.”

The full press release can be found here.

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