Endeavor is transferring several sports assets -- including PBR and IMG -- to TKO Group, the holding company of WWE and UFC.

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

TKO Group Holdings has entered into an agreement to acquire Professional Bull Riders, On Location and IMG from its majority owner Endeavor Group Holdings for $3.25 billion as it looks to expand its operational footprint.