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

"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."

Endeavor Group Holdings is sending three business lines—events arm On Location, media rights division IMG and the Professional Bull Riders circuit—to subsidiary TKO Group Holdings in a $3.25 billion deal.

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

TKO announced that it has reached a definitive agreement with Endeavor to acquire Professional Bull Riders, On Location, and IMG.

TKO announced that they company has acquired Professional Bull Riders, On Location, and IMG from Endeavor.

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.

STAMFORD, Conn (AP) — Parent company of WWE and UFC is buying Professional Bull Riders, On Location, and IMG in a $3.25 billion deal.

TKO Group Holdings, the sports giant that owns UFC and WWE, will acquire Professional Bull Riders, experience creator On Location and content company IMG from Endeavor in an all-equity transaction for $3.