TKO Group Holdings, Inc. - TKO STOCK NEWS

Endeavor Group Holdings (NYSE: EDR) has announced the sale of OpenBet and IMG ARENA to OB Global Holdings in a management buyout backed by Ariel Emanuel, with participation from OpenBet executives including CEO Jordan Levin. The transaction is valued at approximately $450 million, financed through cash and debt. During and after closing, Endeavor will continue marketing IMG ARENA for third-party sale. The deal is a necessary step for Endeavor's proposed take-private transaction by Silver Lake and is subject to gaming regulatory approvals.

Endeavor Group Holdings (NYSE: EDR) reported Q3 2024 revenue of $2.032 billion with a net loss of $420.4 million and Adjusted EBITDA of $277.6 million. The company saw growth in Owned Sports Properties, driven by WWE and PBR performance. The Representation segment showed strength in WME's music and talent groups. Owned Sports Properties revenue increased 53.2% to $735.2 million, while Events, Experiences & Rights revenue grew 145.1% to $899.8 million. The company announced a $3.25 billion deal with TKO Group Holdings to sell PBR, On Location, and IMG assets. Additionally, Endeavor is proceeding with its take-private transaction with Silver Lake at $27.50 per share.

Black Rifle Coffee Company (NYSE: BRCC) and UFC have partnered to auction a specially designed jacket worn by Bruce Buffer during UFC 309 at Madison Square Garden. The unique suit, featuring Vietnam War-inspired tiger stripe camouflage and custom details, will be auctioned from November 16-23 to benefit the Special Operations Warrior Foundation's Children with Disabilities Program. Additionally, BRCC has announced a $250,000 direct donation to support SOWF's mission of providing education funding for children of fallen Special Operations Personnel and Medal of Honor Recipients.

TKO Group Holdings reported strong Q3 2024 results with revenue of $681.2 million and net income of $57.7 million. The company achieved Adjusted EBITDA of $310.0 million. Based on solid performance, TKO revised its full-year 2024 guidance to the upper end of ranges: revenue of $2.670-2.745 billion and Adjusted EBITDA of $1.220-1.240 billion. The quarter saw WWE revenue increase by $274.7 million to $326.3 million, while UFC revenue decreased by $42.6 million to $354.9 million. The company announced a $2.0 billion share repurchase program and quarterly dividend payments starting March 2025.

Endeavor Group Holdings (NYSE: EDR) has initiated a review and potential sale of certain events within its IMG portfolio, including the Miami Open, Madrid Open tennis tournaments, and Frieze, the world's leading modern and contemporary art platform. This review follows Silver Lake's April 2024 agreement to take Endeavor private, which includes provisions for selling certain businesses, excluding TKO Group Holdings and WME. The company has retained The Raine Group to assist with the exploratory process, though no definitive timetable has been set.

TKO Group Holdings announced two major initiatives: a capital return program and a strategic acquisition. The board authorized a $2.0 billion share repurchase program and initiated a $75.0 million quarterly cash dividend program. Additionally, TKO reached a $3.25 billion all-equity agreement to acquire Professional Bull Riders (PBR), On Location, and IMG from Endeavor. The transaction will result in Endeavor owning approximately 59% of TKO, with existing shareholders retaining 41%. The acquisition aims to expand TKO's presence in premium sports and enhance revenue streams across media rights, live events, and brand partnerships. The transaction is expected to close in the first half of 2025.

Endeavor Group Holdings, Inc. (NYSE: EDR), a global sports and entertainment company, has announced that it will release its third quarter 2024 financial results before market hours on Thursday, November 7, 2024. The company noted that following the previously announced definitive agreement for Endeavor to be acquired by Silver Lake, there will not be an earnings conference call.

Investors and interested parties can access the earnings release and any accompanying presentation materials through Endeavor's investor relations website at investor.endeavorco.com. This announcement provides shareholders and analysts with the expected date for the company's financial disclosure, while also confirming the change in typical earnings reporting procedures due to the pending acquisition.

TKO Group Holdings, Inc. (TKO), a premium sports and entertainment company, has announced the release of its third quarter 2024 results. The results will be made public after market hours on Wednesday, November 6, 2024. A live teleconference to discuss the results and provide a business update is scheduled for 5 p.m. ET / 2 p.m. PT on the same day.

Investors and interested parties can access the earnings release, live call, and supporting materials through TKO's investor relations website at investor.tkogrp.com. For those wishing to participate in the teleconference, a dial-in option is available at 833-470-1428 (conference ID: 243176). A recording of the call will be made available on the company's IR site shortly after the event and is expected to remain accessible for at least 30 days.

UFC 306 at RIYADH SEASON NOCHE UFC, held on September 14 at Sphere in Las Vegas, set multiple records, including the highest-grossing UFC event ever with a $22 million gate and a sold-out crowd of 16,024. The event also marked the highest-grossing single event at Sphere.

Notable achievements include:

• Highest-grossing sponsorship sales for a UFC event
• First UFC event with a title partner (Riyadh Season)
• Record merchandise sales and per-cap for both UFC and Sphere
• 89% of ticket buyers from outside Nevada

The event featured innovative technology, including live fighter heart rate tracking, novel Octagon lighting, and haptic seats. It also showcased a premiere film, 'For Mexico, For All Time', celebrating Mexican culture and history.