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PREVIOUSLY:Ari Emanuels Endeavor is shuffling its sports entertainment deck.
It will also have an equal number of TKOs Class B common stock.
The$13 billion privatizationwas announced last April.
Endeavor CEO Ari EmanuelChris Unger/Zuffa LLC
The pure-play TKO, by contrast, has been a stellar performer.
Its shares have risen more than 60% in 2024 to date.
This underscores our continued focus on delivering sustainable long-term value for our shareholders.
Adam Kelly will lead IMG as President.
Its president Paul Caine will continue to lead the organization.
PBR, meanwhile, organizes more than 200 annual live bull riding events.
PBR CEO and Commissioner Sean Gleason will continue to lead the organization.
A special committee of independent TKO board directors has assessed the proposed deal and recommended it goes forwards.
A definite agreement was then signed and approved by stockholders of the majority of outstanding voting interests.
Morgan Stanley & Co. LLC is serving as financial advisor to TKO.
Latham & Watkins LLP is serving as legal advisor to Endeavor.
Dade Hayes contributed to this report.
