Endeavor Group has agreed a deal to sell IMG and other sports assets to TKO Group Holding (TKO) in an all-equity transaction.
New York-listed TKO, which is majority owned by Endeavor, will acquire IMG, Professional Bull Riders (PBR), and On Location for $3.25 billion, adding to its existing UFC and WWE businesses.
Endeavor announced plans earlier this year to divest non-core assets, including IMG and sports betting solutions provider OpenBet, as part of the acquisition of Endeavor [...]