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TKO Group Posts Better-Than-Expected Revenue In Q1, But UFC Legal Settlement Squeezes Endeavor-Run Combat Sports Outfit
TKO Group Holdings posted better-than-anticipated revenue but saw a March antitrust settlement with UFC fighters squeeze its bottom line.
Revenue of $629.7 million came in ahead of Wall Street analysts’ expectations, though the WWE and UFC components each recorded upticks in the single digits. Under the short-term extension, the franchise will continue to air on USA Network through the end of the year before a long-term, exclusive streaming deal with Netflix kicks in next January. “These positive developments, along with the strength in our underlying businesses, give us more conviction than ever inthe combination of UFC and WWE, and in TKO’s ability to deliver sustainable long-term value for shareholders,” he said.
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