07:41 AM EDT, 10/24/2024 (MT Newswires) -- TKO Group Holdings ( TKO ) said Thursday it has reached a definitive agreement to acquire Professional Bull Riders, On Location and IMG from Endeavor Group Holdings ( EDR ) in an all-equity deal valued at $3.25 billion.

TKO also said its board has authorized a share repurchase program of up to $2.0 billion, as well as the launching of a quarterly cash dividend program through which TKO Class A shareholders will receive their pro rata share of $75 million in quarterly distributions to be made by TKO Operating Company.

TKO shares were more than 1% higher in recent premarket trading.

Price: 128.00, Change: +2.00, Percent Change: +1.59