03:04 PM EDT, 09/15/2025 (MT Newswires) -- (Updates with the latest stock movement in the headline and the first paragraph.)

TKO (TKO) shares were up nearly 2% in recent Monday trading after the company said it will buy back up to $1 billion worth of shares through an accelerated share repurchase agreement.

The company said that, under the ASR agreement, it will pay $800 million to Morgan Stanley & Co. LLC, a unit of Morgan Stanley ( MS ) , for an initial 3.2 million class A shares. The deal is expected to close in December, it said.

TKO said it has also entered into a 10b5-1 trading plan to buy back up to $174 million in shares.

The company said that on Sept. 5, it repurchased $26 million in shares through a privately negotiated transaction.

TKO said the buybacks will be funded with proceeds from its $1 billion first lien term loan that closed on Sept. 15.

Price: 205.37, Change: +3.69, Percent Change: +1.83