TKO Group Will Acquire PBR, IMG and On Location From Majority Owner Endeavor in $3.25 Billion Deal
TKO Group Will Acquire PBR, IMG and On Location From Majority Owner Endeavor in $3.25 Billion Deal
Endeavor is transferring several sports assets -- including PBR and IMG -- to TKO Group, the holding company of WWE and UFC.
WWE, UFC...and Bullriding lmao
ngl read that as pabst blue ribbon at first
I always expected this to happen, PBR was originally rumored to be in the Group but Vince hated the idea, again it was a rumor I read, not necessarily true.
Endeavor, the controlling party of TKO already, is "selling" some of their assets to TKO in exchange for even more stock... it's classic hedge fund/venture capitalist/private equity move the money around bullshit. Expect to see more layoffs across the companies for "synergy" reasons and don't be surprised if one of the companies gets loaded up with debt from some of the others and sold off or shut down later.
Looking at the title, I thought WWE was going to buy Pabst Blue Ribbon.
Ah yes. The inevitable march to everything being shit.
The enshittification train is never late!