The company completed the acquisition of the IMG business, On Location and PBR on February 28, 2025. The company said it treated the transaction as a merger between entities under common control and retrospectively recast all historical financial statements on a combined basis for periods prior to February 28, 2025.

1. 01

   The company completed the acquisition of the IMG business, On Location and PBR on February 28, 2025. The company said it treated the transaction as a merger between entities under common control and retrospectively recast all historical financial statements on a combined basis for periods prior to February 28, 2025.

2. 02

   The company said it paid total consideration of approximately $3.25 billion plus $50 million in purchase price adjustment for the acquisition. Endeavor Group Holdings, Inc. received approximately 26.54 million common units of TKO OpCo and subscribed for an equivalent number of corresponding shares of TKO Class B common stock.

3. 03

   The company said Adjusted EBITDA for Corporate and Other for the 3 months ended June 30, 2025 increased by $14.1 million, or 15%, compared to the prior year. It cited $23.7 million of lower corporate allocated costs from Endeavor Group Holdings, Inc. to the Acquired Businesses as a principal driver, adding that $13.8 million of higher personnel costs and other operating expenses partially offset the increase.

4. 04

   The company said operating cash flow for the 6 months ended June 30, 2025 was $559.0 million, an increase from $352.0 million in the same period of 2024. It cited $438.6 million of higher net income and $265.1 million of increased restricted cash related to On Location, noting that $250.0 million in payments for the UFC antitrust lawsuit settlement partially offset the increase.

Key figures

Quarter ended June 30, 2025

Revenue

$1.3B

Operating income

$368M

Net income

$98M

EPS

$1.17

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.