TKO Group Holdings, Inc. - TKO STOCK NEWS

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.

WekaIO Inc. (WEKA) has been named the official partner for UFC 306 AT RIYADH SEASON NOCHE UFC at Sphere Las Vegas on September 14th. This event marks the first live sporting event at Sphere, celebrating Mexican Independence Day and honoring Mexican fighters' contributions to combat sports. The WEKA Data Platform will power the event's data management and infrastructure needs.

Silent House Productions, partnering with UFC, required a solution to handle the rendering of hundreds of terabytes of native 12K video for display on Sphere's 16K x 16K resolution screen. WEKA was chosen due to its successful track record with previous Sphere events and its ability to meet the demanding performance and scale requirements.

The event will feature six hours of live MMA action and an immersive film with six chapters from award-winning filmmakers, presenting unique production challenges in this groundbreaking venue.

Endeavor Group Holdings (NYSE: EDR), a global sports and entertainment company, has announced a Q3 2024 cash dividend of approximately $27 million. Class A common stockholders will receive $0.06 per share, payable on September 30, 2024, to shareholders of record as of September 16, 2024. The company notes that future dividend declarations are subject to various factors, including financial conditions, market conditions, and legal requirements. Additionally, Endeavor mentions a merger agreement with Silver Lake that requires quarterly dividend payments of $0.06 per share for each outstanding Class A common stock prior to closing.

TKO Group Holdings (NYSE: TKO), a premium sports and entertainment company, has announced its participation in the Goldman Sachs Communacopia & Technology Conference. The company's President and COO, Mark Shapiro, will represent TKO at the event on September 11, 2024, at 1:50 p.m. Eastern Time in San Francisco, CA.

Investors and interested parties can access a live stream of the session, as well as a replay available for at least 30 days, through the company's investor relations website at investor.tkogrp.com. This participation provides an opportunity for TKO to showcase its position in the sports and entertainment industry and engage with investors and analysts.

Endeavor Group Holdings (NYSE: EDR) reported its Q2 2024 financial results, showing revenue of $1.751 billion and an Adjusted EBITDA of $380.7 million. The company experienced growth across its Owned Sports Properties segment, driven by successful events like WrestleMania 40 and UFC 300. The Representation segment also showed strength due to recovery following industry strikes. However, the company reported a net loss of $253.8 million.

Notably, Endeavor is in the process of being acquired by Silver Lake in a take-private transaction, expected to close by Q1 2025. As part of this deal, the company plans to divest its Sports Data & Technology segment. Endeavor's cash and cash equivalents stood at $697.7 million, with total debt at $5.073 billion as of June 30, 2024.

TKO Group Holdings reported record second-quarter 2024 financial results with revenue rising 179% to $851.2M, and net income increasing to $150.7M. Adjusted EBITDA also hit a record $420.9M. The company raised its full-year 2024 guidance for revenue to $2.670B-$2.745B and Adjusted EBITDA to $1.220B-$1.240B.

The increase in revenue was driven by higher contributions from both UFC and WWE, with UFC reporting a 29% increase to $394.4M, and WWE contributing $456.8M.

However, operating expenses also rose significantly, with direct operating costs up by $177M, SG&A expenses up by $169.1M, and depreciation and amortization up by $88.8M. TKO's gross debt stood at $2.744B, with cash and cash equivalents at $277.5M.

Additionally, TKO repurchased 1.9M shares for $165M in Q2 2024.