Citable filing context

TKO filing events and research context

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TKO's research view summarizes recent SEC filing context, starting with mda_quarterly from May 6, 2026.

TKO filing events and research context
FiledItemContext
May 6, 2026mda_quarterlyTKO reported a 26% revenue increase to $1.597 billion for the first quarter of 2026, driven by growth across all segments. UFC revenue rose 12% to $401.2 million, bolstered by a new content distribution agreement with Paramount. WWE revenue grew 22% to $475.7 million, fueled by a financial incentive package for the Royal Rumble in Saudi Arabia and new agreements with Netflix and ESPN. The IMG segment saw a 38% increase to $655.4 million, primarily due to On Location hospitality revenues from the 2026 Milano Cortina Olympics. Consolidated Adjusted EBITDA rose to $549.8 million. To support liquidity and capital returns, TKO upsized its First Lien Term Loan by $900 million in March 2026, bringing total debt to $4.6 billion. The company aggressively returned capital via an $800 million accelerated share repurchase agreement, a new $1 billion repurchase authorization, and an increased quarterly dividend of $0.78 per share. Key financial risks include substantial indebtedness and ongoing antitrust litigation involving the UFC, as well as fiduciary duty lawsuits related to WWE. Additionally, the company continues to manage the integration of the Endeavor Asset Acquisition, which brought IMG, On Location, and PBR into the portfolio.
Feb 25, 2026businessTKO Group Holdings was formed on September 12, 2023, through the combination of the UFC and WWE businesses, establishing a new public entity. The transaction valued WWE at $8.432 billion, resulting in significant goodwill and intangible assets, including $2.188 billion in trademarks and trade names and $900.5 million in customer relationships. Pro forma revenue for the combined entity in 2023 was $4.168 billion, with net income of $208.8 million. EGH and its subsidiaries hold a 51.0% economic interest in TKO OpCo and control 63.0% of TKO's voting interests as of December 31, 2025, while former WWE stockholders received a 49% economic interest in TKO OpCo. TKO's operations are supported by a $3.7 billion First Lien Term Loan due November 2031 and a $205 million revolving credit facility. The company actively manages capital, authorizing a $2.0 billion share repurchase program, including an $800 million accelerated share repurchase in 2025, and initiating a quarterly cash dividend program, which increased to $150 million per quarter in 2025. Strategic investments include stakes in Sports News Television, live sports media platform EverPass Holdco, event management firm Wiz-Team SA, and a new global boxing promotion joint venture with Sela Company. Impairment charges in the IMG segment in 2023 indicate some operational challenges, and a recent acceleration of amortization for a WWE customer relationship asset suggests changes in media revenue arrangements.
Feb 25, 2026mdaTKO's 2025 financial results show a significant improvement, with net income reaching $546.2 million, a substantial swing from a $245.8 million loss in 2024. Operating income also dramatically increased to $835.0 million from $30.9 million. Total revenue, however, saw a 3% decrease to $4,735.2 million. This period was marked by the February 2025 Endeavor Asset Acquisition, integrating IMG, On Location, and Professional Bull Riders (PBR) for approximately $3.25 billion. Segment performance varied: UFC revenue grew 7%, driven by new partnerships and increased contractual media rights fees. WWE revenue surged 22%, primarily due to new global content distribution agreements with Netflix for Raw, SmackDown, and NXT, and ESPN for premium live events, alongside strong live event revenue from WrestleMania 41 and a two-night SummerSlam. Conversely, the IMG segment's revenue declined 31%, mainly due to the absence of 2024 Paris Olympics hospitality revenue from On Location and the loss of FA Cup media rights. Corporate and Other expenses saw a significant reduction, largely due to the prior year's $375.0 million UFC antitrust lawsuit settlement. TKO refinanced its Credit Facilities, increasing term loans to $3.7 billion at lower interest rates. The company also initiated a $2.0 billion share repurchase program, completing $866.8 million in 2025, and increased its quarterly cash dividend to $0.76 per share, signaling a robust capital return strategy. Operating cash flow more than doubled to $1,285.7 million.

Source: SEC EDGAR filing text and events; period May 6, 2026; filed May 6, 2026.

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