TKO, the parent company of UFC and WWE, delivered a healthy third-quarter profit thanks to the strength of content licensing, sponsorship and event revenue at its core sports properties.

TKO’s Q3 results reflected higher corporate expenses and costs due to the restructuring and integration efforts for WWE. TKO is also in the midst of working out a deal with its majority owner Endeavor acquire the Professional Bull Riders and other sports assets now owned by Endeavor.

TKO reported total revenue of $681.2 million and net income of $57.7 million. Adjusted earnings before interest, taxes, depreciation and amortization came in at $310 million.

UFC revenue took a year-over-year hit because it produced 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 solidly by $10.2 million over the year-ago quarter. UFC’s EBITDA

WWE came in with $326 million in revenue and adjusted EBITDA of $175.3 million. WWE was boosted by a contractually guaranteed 14% increase in media rights revenue.

Last month, Endeavor disclosed that it has reached 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 expected to close in the first quarter of next year, leaving Endeavor will about 59% ownership of TKO.

More to come