WWE Announces Merger With UFC , to Create New Publicly Traded Company.
WWE Announces Merger With UFC , to Create New Publicly Traded Company.
On April 3, Vince McMahon's World Wrestling
Entertainment announced the company
has agreed to merge with the UFC.
On April 3, Vince McMahon's World Wrestling
Entertainment announced the company
has agreed to merge with the UFC.
CNBC reports that the decision will
create a new publicly traded company
controlled by Endeavor Group.
According to the agreement, Endeavor will
control a 51% stake in the new combat sports
and entertainment company. .
CNBC reports that WWE
shareholders will control the
remaining 49% of the company. .
In a press release, the company revealed that
the deal valued the WWE at $9.3 billion, while the
UFC, owned by Endeavor, was valued at $12.1 billion.
In a press release, the company revealed that
the deal valued the WWE at $9.3 billion, while the
UFC, owned by Endeavor, was valued at $12.1 billion.
News of the deal, which is expected
to close in the second half of 2023, sent
shares in both WWE and Endeavor down.
According to the companies,
Ari Emanuel will serve as both Endeavor
and the newly formed company's chief executive.
According to the companies,
Ari Emanuel will serve as both Endeavor
and the newly formed company's chief executive.
Meanwhile, McMahon will serve as executive chairman
and Endeavor President and COO Mark Shapiro will
remain in the same roles for the new company.
Meanwhile, McMahon will serve as executive chairman
and Endeavor President and COO Mark Shapiro will
remain in the same roles for the new company.
In the UFC, Dana White will remain
the organization's president, and WWE CEO
Nick Khan will continue to act as president. .
In the UFC, Dana White will remain
the organization's president, and WWE CEO
Nick Khan will continue to act as president. .
CNBC reports that the new company, which has
yet to be named, will be traded on
the New York Stock Exchange as TKO.