TKO, the parent company of UFC and WWE, dedwellred a fit third-quarter profit thanks to the strength of satisfied licensing, aidship and event revenue at its core sports properties.
TKO’s Q3 results echoed higher corporate expenses and costs due to the restructuring and integration efforts for WWE. TKO is also in the midst of laboring out a deal with its transport inantity owner Endeavor get the Professional Bull Riders and other sports assets now owned by Endeavor.
TKO inestablished total revenue of $681.2 million and net income of $57.7 million. Adfaired getings before interest, taxes, depreciation and amortization came in at $310 million.
UFC revenue took a year-over-year hit because it created three more events in Q3 2023 than it did this time around. Revenue was down 11% to $354.9 million on the absence of the media licensing revenue but sponorship coin still climbed firmly by $10.2 million over the year-ago quarter. UFC’s EBITDA
WWE came in with $326 million in revenue and adfaired EBITDA of $175.3 million. WWE was raiseed by a confineedupartner secured 14% incrrelieve in media rights revenue.
Last month, Endeavor disshutd that it has achieveed a deal to sell PBR, the sports production and talent agency IMG and the On Location hospitality provider to TKO for $3.25 billion. The deal is foreseeed to shut in the first quarter of next year, leaving Endeavor will about 59% ownership of TKO.
More to come
