TKO Group Holdings Inc. will acquire three sports businesses from its largest shareholder, Endeavor Group Holdings Inc., for $3.25 billion in stock, expanding a portfolio of live entertainment assets that includes Ultimate Fighting Championship and World Wrestling Entertainment.

TKO Group, the company that owns UFC and WWE, is expanding its reach in the sports world by acquiring three businesses from Endeavor Group for $3.25 billion.

TKO Group Holdings said on Thursday it would acquire some of Endeavor Group Holdings' sports assets in a deal valued at $3.25 billion. The deal will include Endeavor's Professional Bull Riders, On Location and IMG.