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TKO Group Holdings 8-K Report, Regulation FD Disclosure (Sep 26, 2024)

Reports
Regulation FD
Filing Date
Filed September 26, 2024
Period End
September 26, 2024
Security
TKO
In the record · 2023–202610-K310-Q98-K42

TKO filed 3 annual reports (10-K), 9 quarterly reports (10-Q) and 42 current reports (8-K) between 2023 and 2026.

  1. Leadership change8-K · Jan ’24Jan ’24
  2. Change in control8-K · Mar ’25Mar ’25
  3. Material agreement8-K · Mar ’26Mar ’26

01—Abstract

Summary

Summary of the 8-K filed September 26, 2024. Cited figures are marked; the original filing is the authoritative source.

TKO Group Holdings, Inc. disclosed under Item 7.01 (Regulation FD) that TKO Operating Company, LLC (f/k/a Zuffa Parent, LLC), a subsidiary, and/or affiliates including Endeavor Group Holdings, Inc. reached an agreement on September 26, 2024 to settle all claims in the Le et al. v.

Zuffa, LLC class-action case for an aggregate of $375 milliona. The case involves former UFC athletes alleging violations of Section 2 of the Sherman Act; five related suits filed between December 2014 and March 2015 were consolidated in June 2015 into the Le case in the U.S. District Court for the District of Nevada. The settlement follows the court's denial of an earlier proposed settlement agreement.

The updated terms are to be paid in installments over an agreed-upon period by the Company and its subsidiaries, and have been memorialized in a long-form agreement that will be submitted to the court for approval. The Company anticipates the settlement amount will be deductible for tax purposes. The filing is furnished rather than filed, and it includes standard forward-looking statement cautions covering the potential settlement amount and anticipated tax treatment, referencing risk factors in the Company's 2023 Form 10-K and June 30, 2024 Form 10-Q.

02—Key points

Key Highlights

  1. Agreement reached September 26, 2024 to settle all claims in the Le et al. v. Zuffa, LLC class action for an aggregate $375 million
  2. Settlement follows the court's denial of an earlier proposed settlement agreement
  3. Payment will be made in installments over an agreed-upon period by the Company and its subsidiaries
  4. Terms memorialized in a long-form agreement that will be submitted to the court for approval
  5. Company anticipates the settlement amount will be deductible for tax purposes
  6. Lawsuits allege former UFC athletes were harmed by violations of Section 2 of the Sherman Act
  7. Five related class actions filed December 2014 to March 2015 were consolidated in June 2015 in the District of Nevada

03—Questions

Frequently Asked Questions

  1. How much is the Le case settlement?

    The updated settlement agreement totals an aggregate of $375 million, payable in installments over an agreed-upon period by the Company and its subsidiaries.

  2. What are the lawsuits about?

    Former UFC athletes allege violations of Section 2 of the Sherman Act, the federal antitrust monopolization provision, against TKO OpCo, the Company, and/or affiliates including Endeavor Group Holdings, Inc.

  3. Why is this a new settlement agreement?

    The filing states that the updated agreement followed the court's denial of an earlier proposed settlement agreement with the plaintiffs.

  4. Is the settlement final?

    Not yet. The terms have been memorialized in a long-form agreement that will be submitted to the court for approval.

  5. Will the settlement have tax benefits?

    The Company anticipates that the settlement amount will be deductible for tax purposes, though this is a forward-looking statement subject to risks.

04—Continue

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