At the UBS Global Media and Communications Conference, industry leaders discussed the evolving landscape of media and communications. Comcast's Dave Watson projected over 100,000 broadband subscriber losses in Q4 due to hurricanes, while Fox and Disney executives emphasized their strategic participation in Venu to enhance viewer engagement without replicating existing bundles. Roku's CFO highlighted their competitive edge and strong partnerships, and TKO Group's Mark Shapiro expressed interest in expanding the Professional Bull Riders and exploring organic growth in boxing.
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.
Mark Shapiro, President and COO of TKO Group Holdings, will participate in the UBS Global Media & Communications Conference on December 9, 2024, at 11:15 a.m. ET in New York. The session will be accessible via a live link and available for replay for 30 days on the company's investor relations website. TKO, which includes UFC and WWE, reaches over 1 billion households globally and organizes more than 300 live events annually.
TKO Group Holdings will participate in the UBS Global Media & Communications Conference on December 9, 2024, at 11:15 a.m. ET in New York. Mark Shapiro, President and COO, will represent the company, and the presentation will be accessible live and via a 30-day replay on TKO's investor relations website.
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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