TKO to acquire PBR, On Location, IMG from Endeavor for $3.25B; launches $2B buyback and $75M quarterly dividend

TKO Group Holdings, Inc.

All-equity deal: 26.14M TKO common units valued at $3.25B; Endeavor to own ~59% of TKO post-close.
TKO Board authorizes $2.0B share repurchase program, expected to be completed in 3–4 years.
Quarterly dividend of $75M (pro rata to Class A common) initiated; first payment on March 31, 2025.
Transaction expected to close in first half of 2025; subject to regulatory approvals and customary conditions.
Acquired assets include Pro Bull Riders, On Location (premium experiences), and IMG (sports content/distribution).

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