---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-040879"
form_type: "8-K"
ticker: "TKO"
cik: "0001973266"
company_name: "TKO Group Holdings, Inc."
filed_at: "2025-02-28T23:59:59+00:00"
generated_at: "2026-05-26T00:09:54.561827+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# TKO closes $3.25B acquisition of IMG, On Location, and PBR from Endeavor

## Summary
- TKO issued ~26.1M common units valued at $3.25B (based on VWAP through Oct 23, 2024) to Endeavor.
- Endeavor now owns ~61% of TKO voting interests post-close; purchase price adjustment of ~$50M in additional units possible.
- Acquired assets: IMG (200+ rightsholders), On Location (premium live events), and PBR (200+ global events annually).
- Services Agreement with Endeavor terminated upon closing; Transaction Agreement Amendment accelerated inside date to Feb 28, 2025.
- IMG licensing, models, tennis/golf representation, and full events portfolio remain with Endeavor.

## SEC filing metadata
- accession: 0001193125-25-040879
- form_type: 8-K
- ticker: TKO
- cik: 0001973266
- company_name: TKO Group Holdings, Inc.
- filed_at: 2025-02-28T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 1.02, 2.01, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1973266/000119312525040879/0001193125-25-040879-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1973266/000119312525040879/d879819d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-040879
- JSON: https://secwatch.observer/filing/0001193125-25-040879.json
- Plain text: https://secwatch.observer/filing/0001193125-25-040879.txt

## Key facts
- M&A Transactions
  TKO Group Holdings, Inc. completed an acquisition involving Endeavor Operating Company, LLC for approximately 61% of the voting interests of TKO PubCo (closed 2025-02-28).
  - Action: acquisition
  - Counterparty: Endeavor Operating Company, LLC
  - Consideration: approximately 61% of the voting interests of TKO PubCo
  - Closing: 2025-02-28
  source text: of Endeavor (“ Trans World International ”) (the “ Transactions ”). As of the consummation of the Transactions, Endeavor and its subsidiaries collectively own approximately 61% of the voting interests of TKO PubCo. The Transaction Agreement and the Transactions were previously described in the Company’s Current Report on Form 8-K filed with the
  evidence_url: https://www.sec.gov/Archives/edgar/data/1973266/000119312525040879/0001193125-25-040879-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.