TKO Group , the company that owns WWE and UFC, is expanding into sports-adjacent properties by acquiring three businesses for $3.25 billion from its controlling owner, Endeavor Group . The businesses are Professional Bull Riders, On Location, and IMG, the companies announced Thursday. The deal is all stock, and Endeavor's ownership in TKO will increase from 53% to 59%. While the company does acquire a new league in PBR, the world's largest bull riding league, it also is expanding into luxury hospitality with On Location and media rights consultancy through IMG. "At TKO, we're primarily interested in league ownership if that exists and businesses that can power our current sports ecosystem.

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Persons: Ari Emanuel, Dwayne, Johnson, Mark Shapiro, we're, Silver Lake, Shapiro, Sean Gleason, TKO Organizations: CNBC, New York Stock Exchange, WWE, UFC, Endeavor Group, Professional Bull Riders, IMG, Endeavor, Silver Lake, Silver, PBR, Ryder, FIFA, NFL, English Premier League, National Hockey League, Major League Soccer Locations: New York City, U.S