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Donald Trump's incoming administration is set to feature a roster of ultra-wealthy appointees, including Elon Musk, who will co-lead an advisory group aimed at reducing government waste. With an average net worth of $616 million among Trump and his top picks, this administration could surpass the previous one, where the total wealth of Biden's Cabinet was estimated at $118 million. The influx of billionaires raises concerns about potential financial and ethical conflicts, as well as the impact on Trump's populist appeal.
TKO Group, which owns UFC and WWE, is focused on integrating recent acquisitions and enhancing fan experiences, emphasizing the need for "super access" to athletes. Despite initial market skepticism over its $3.25bn acquisition of IMG and other assets, TKO aims to leverage these for growth, with expectations of generating $2.57bn to $2.65bn in revenue this year. As UFC prepares for crucial media rights negotiations, the company sees a long-term future with ESPN and Disney while acknowledging interest from rival broadcasters.
Donald Trump"s upcoming cabinet is marked by a focus on loyalty and radicalism, with key appointments including Matt Gaetz as Attorney General, J.D. Vance as Vice President, and Marco Rubio as Secretary of State. Other notable nominations include Howard Lutnick for Secretary of Commerce and Kristi Noem for Secretary of Homeland Security, reflecting Trump"s America First agenda. The selections have sparked concern among some government employees regarding the future direction of various departments.
TKO Group, which owns WWE and UFC, is acquiring three sports-related businesses from Endeavor Group for $3.25 billion, increasing Endeavor's stake in TKO to 59%. The deal includes Professional Bull Riders, On Location, and IMG, enhancing TKO's sports ecosystem.In an exclusive interview, NBA Commissioner Adam Silver expressed frustration over failing to reach a deal with Warner Bros. Discovery during negotiations, leading to a new media rights agreement with Disney, NBCUniversal, and Amazon. The ongoing legal dispute centers on Warner Bros. Discovery's claim to matching rights for NBA games.
TKO Group is acquiring IMG, Professional Bull Riders (PBR), and On Location from Endeavor for $3.25 billion, expanding its sports portfolio. The all-stock deal will increase Endeavor's ownership in TKO from 53% to 59% and enhances TKO's focus on league ownership and related businesses. TKO also announced a $300 million annual dividend and a $2 billion share buyback program.
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Trump's New Administration Features Unprecedented Wealth Among Appointees
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16:59 08.12.2024
TKO Group president emphasizes need for super access to engage fans
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17:36 03.12.2024
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13:45 20.11.2024
TKO Group acquires sports businesses as NBA media rights deal unfolds
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17:06 24.10.2024
TKO Group acquires IMG Professional Bull Riders and On Location for 3.25 billion
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12:50 24.10.2024
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