Sports company TKO Holdings Thursday announced acquisition of Professional Bull Riders, On Location and IMG in an all-equity transaction with Endeavor Holdings Inc. worth $3.25 billion.

All-stock deal is expected to close in first half of 2025 and will see Endeavor increase TKO ownership to 59%.

TKO Group, the sports entertainment company that houses 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

Endeavor Group is to sell three of its major businesses, including the IMG agency, to TKO, the entity it spun off last year to house WWE and UFC and listed on the New York Stock Exchange.

"In addition to complementing TKO’s existing core UFC and WWE businesses," the stock deal expands its footprint "in the fast-growing premium sports market."

TKO Group, the sports entertainment company that houses WWE and UFC, is buying Professional Bull Riders, On Location, and IMG from Endeavor Group in an all-stock deal valued at $3.25

D with additional potential asset sales. After announcing earlier Thursday the multi-billion-dollar sale of sports assets to corporate sibling TKO, Ari Emanuel’s Endeavor said it is reviewing and might sell IMG tennis assets and the Frieze Art Fair.