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    Endeavor Group Sells Professional Bull Riders, On Location and IMG To Parent of WWE and UFC

    By SHOOTNo Comments143 Views
    WME Co-CEO Ari Emanuel speaks at the generationOn block party at Fox Studios in Los Angeles on April 18, 2015. (Photo by Dan Steinberg/Invision/AP)

    By Michelle Chapman, Business Writer

    LOS ANGELES (AP) --

    The parent company of WWE and UFC is buying Professional Bull Riders, On Location, and IMG from Endeavor Group in an all-stock deal valued at $3.25 billion.

    The deal is part of Endeavor’s efforts to shed some of its assets as it looks to be taken private in a proposed transaction with private equity firm Silver Lake, which was announced in April. Ariel Emanuel, who serves as CEO of Endeavor, is also executive chair and CEO of TKO.

    Professional Bull Riders is a bull riding league that has more than 200 annual live events, approximately 1.25 million fans, and reaches more than 285 million households in more than 65 territories. On Location is live event company for more than 1,200 sporting events, such as the Super Bowl, Ryder Cup and NCAA Final Four. IMG is a distributor and producer of sports content, packages and sells media rights and brand partnerships, and provides consulting, digital services and event management to clients such as the National Football League and National Hockey League.

    Parent company TKO Group said Thursday that the acquisition from Endeavor Group will complement its existing businesses as well as broaden its reach in the premium sports market.

    “PBR, On Location, and IMG are industry-leading assets that meaningfully enhance TKO’s portfolio and strengthen our position in premium sports globally,” TKO Chief Operating Officer Mark Shapiro said in a statement. “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.”

    As part of the deal, Endeavor will receive about 26.14 million common units of TKO Operating Co. and will subscribe for an equal number of shares of TKO’s Class B shares. Endeavor is expected to own approximately 59% of TKO, while TKO’s existing shareholders will own the remaining 41% upon completion of the transaction.

    The deal is expected to close in the first half of next year.

    TKO Group also announced Thursday that its board has approved the repurchase of up to $2 billion of its common stock.

    Shares of TKO Group Holdings Inc., based in Stamford, Conn., rose more than 1% before the opening bell.

    Category:News
    Tags:Ariel EmmanuelEndeavor GroupTKO Group HoldingsUFCWWE



    Is “Glicked” The New “Barbenheimer”? “Wicked” and “Gladiator II” Hit Theater Screens

    Thursday, November 21, 2024

    "Barbenheimer" was a phenomenon impossible to manufacture. But, more than a year later, that hasn't stopped people from trying to make "Glicked" — or even "Babyratu" — happen.

    The counterprogramming of "Barbie" and "Oppenheimer" in July 2023 hit a nerve culturally and had the receipts to back it up. Unlike so many things that begin as memes, it transcended its online beginnings. Instead of an either-or, the two movies ultimately complemented and boosted one another at the box office.

    And ever since, moviegoers, marketers and meme makers have been trying to recreate that moment, searching the movie release schedule for odd mashups and sending candidates off into the social media void. Most attempts have fizzled (sorry, "Saw Patrol" ).

    This weekend is perhaps the closest approximation yet as the Broadway musical adaptation "Wicked" opens Friday against the chest-thumping sword-and-sandals epic "Gladiator II." Two big studio releases (Universal and Paramount), with one-name titles, opposite tones and aesthetics and big blockbuster energy — it was already halfway there before the name game began: "Wickiator," "Wadiator," "Gladwick" and even the eyebrow raising "Gladicked" have all been suggested.

    "'Glicked' rolls off the tongue a little bit more," actor Fred Hechinger said at the New York screening of "Gladiator II" this week. "I think we should all band around 'Glicked.' It gets too confusing if you have four or five different names for it."

    As with "Barbenheimer," as reductive as it might seem, "Glicked" also has the male/female divide that make the fan art extra silly. One is pink and bright and awash in sparkles, tulle, Broadway bangers and brand tie-ins; The other is all sweat and sand, blood and bulging... Read More

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