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

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.

"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, the sports entertainment company that houses WWE and UFC, said the acquisition will broaden its reach in the premium sports market.

TKO Group (NYSE:TKO) on Thursday struck a deal to buy Professional Bull Riders (PBR), On Location, and IMG in an all-equity transaction valued at $3.25 billion from Endeavor Group (NYSE:EDR), making Endeavor the lion share equity owner in the WWE and UFC parent.

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 a deal valued at $3.25 billion

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 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.