WWE and UFC are Set to Merge Under One Company
Big news for World Wrestling Entertainment and UFC as WWE and UFC are set to merge under one company. The Hollywood Reporter broke the news announcing that the company will be headed by former Endeavor CEO Ari Emanuel with Vince McMahon still on board as executive chairman.
The two companies will join forces under a new company called Endeavor Group Holdings World Wrestling Entertainment which will operate under the symbol TKO. Endeavor now holds a controlling interest in WWE with 51% while WWE shareholders control the remaining 49% interest in the company. Speaking of the merger, Emanuel shared:
“This is a rare opportunity to create a global live sports and entertainment pureplay built for where the industry is headed. For decades, Vince and his team have demonstrated an incredible track record of innovation and shareholder value creation, and we are confident that Endeavor can deliver significant additional value for shareholders by bringing UFC and WWE together.”
McMahon added:
“this is without a doubt the best outcome for our shareholders and other stakeholders. Together, we will be a $21-plus billion live sports and entertainment powerhouse with a collective fanbase of more than a billion people and an exciting growth opportunity. The new company will be well-positioned to maximize the value of our combined media rights, enhance sponsorship monetization, develop new forms of content, and pursue other strategic mergers and acquisitions to further bolster our strong stable of brands.”
With the deal all but done after the unanimous approval from both companies boards of directors. The deal is now expected to close sometime in 2023. What this could mean for both WWE and UFC remains to be seen.
Source: THR