New On The Block Ari Emanuel ‘s sports and entertainment conglomerate, Endeavor Group Holdings Inc EDR , is reviewing a potential sale of IMG tennis assets — including the Miami Open and Madrid Open tennis tournaments. Most of IMG’s other assets were included in a transaction announced on Thursday with TKO Group Holdings Inc TKO , the parent company of Ultimate Fighting Championship (UFC) and World Wrestling Entertainment (WWE) . The Frieze Art Fair , a curated event featuring modern and contemporary works, is also for sale.
Endeavor acquired a majority stake in April 2016. The Raine Group is advising Endeavor. See Also: UK Launches Antitrust Review Of Synopsys’ $34 Billion Ansys Deal Over Growing Concerns Off The Block TKO, created a year ago from the merger of the WWE and UFC , acquired sports marketing agency IMG from Endeavor in a $3.
25 billion all-equity deal that included Fort Worth, Texas-based Professional Bull Riders and live events business On Location . The sale is expected to close in the first half of 2025. Endeavor will end up owning approximately 59% of TKO.
Separately, TKO's board has authorized a share-repurchase program of up to $2 billion of Class A common stock. PPG PPG agreed to sell its architectural coatings business in the U.S.
and Canada for $550 million to private equity firm American Industrial Partners . This ends a sale process first announced in February. The transaction is expected to close in late 2024 or early 2025.
Goldman Sachs & Co..