The parent organization of WWE and UFC has reached an agreement to acquire Professional Bull Riders, On Location, and IMG in a deal estimated at a staggering $3.25 billion.

Professional Bull Riders (PBR) operates a bull riding league that hosts over 200 live events annually, attracting around 1.25 million fans and achieving a reach of more than 285 million households across 65 different regions. On Location specializes in providing premium experiences for fans at over 1,200 major sporting events, including the Super Bowl, Ryder Cup, and NCAA Final Four. Meanwhile, IMG excels as a producer and distributor of sports content, managing media rights and brand partnerships, and offering consulting, digital services, and event management for clients like the National Football League and the National Hockey League.

On Thursday, TKO, the parent company, announced that acquiring these three entities from Endeavor Group will enhance its existing operations and expand its reach within the premium sports market.

Under the terms of the agreement, Endeavor will acquire approximately 26.14 million common units of TKO Operating Co. Additionally, Endeavor will subscribe to an equal number of TKO’s Class B shares. Upon the deal’s completion, Endeavor is projected to possess nearly 59% of TKO, while current shareholders will hold the remaining 41%.

The completion of this transaction is anticipated for the first half of the upcoming year.

Furthermore, TKO Group unveiled plans on Thursday for its board to authorize the repurchase of up to $2 billion of its own common stock.