I am not sure if anyone else finds this as interesting as I do. After all, Endeavor bought UFC and then announced it was "merging" it with WWE (it was much more of a buyout though because WWE was getting slammed in scandals due to Vince McMahon) putting them under the TKO Group banner and spinning it out into a Public Stock. Endeavor shareholders had a 51% share of the new company and WWE shareholders had 49% of the new company.

Earlier this year it was announced that Private Equity Company Silver Lake was going to buy out Endeavor and take it private. It seems that with this that Silver Lake is moving to spin out all the sports into TKO Group as this 3.5 billion dollar deal was in all stock increasing Endeavor's ownership in TKO Group to 59%.

The three businesses each do separate but very unique things. IMG packages and sells media rights and brand partnerships, providing strategic consultancy on the biggest TV deals for the NFL, English Premier League, National Hockey League, Major League Soccer, UFC, WWE, and PBR. The deal does not include businesses associated with the IMG brand in licensing, models, tennis representation, or the full events portfolio. Professional Bull Riders (PBR) puts on more than 200 events annually for over 1 million fans. The one that I had not heard of before was On Location. They provide luxury hospitality for major sporting events including the Super Bowl, the Ryder Cup, March Madness, the FIFA World Cup, and the Olympics.

While Endeavor still has some sports assets so it will be interesting if they unload those to other parties or if they keep them when they go private. The core things of the talent agencies, branding, and movie assets remain with Endeavor and I doubt we would see those be sold off.