WWE to be sold to Endeavor, will merge with UFC to create a new $21 billion+ global sports and entertainment company

WWE to be sold to Endeavor

It was announced Monday morning that WWE will be sold to Endeavor Group Holdings, Inc.

WWE has begun the process by signing “a definitive agreement.” The agreement will see WWE merge with UFC to create a new publicly listed company. 51% of the company will be owned by Endeavor, and 49% will be owned by existing WWE shareholders.

The name of the new company has not been announced, but it will trade under the stock ticker symbol “TKO.” There will be regulatory hurdles to overcome to make this deal complete, but if all goes well, it is projected to be finalized in the second half of 2023.

According to the press release, UFC has an enterprise value of $12.1 billion, while WWE has an enterprise value of $9.3 billion. Combined, the new company will be worth over $21 billion.

The new company will be led by Ari Emanuel as Chief Executive Officer (he is also CEO of Endeavor), Vince McMahon as Chairman of the Board, and Mark Shapiro as President and Chief Operating Officer of Endeavor and the new company. Dana White will continue on as President of UFC, and Nick Khan will remain the President of WWE. The Board of Directors will be announced at a later date and will consist of 11 individuals, six appointed by Endeavor and five by WWE.

Vince McMahon, the Executive Chairman of WWE, was quoted in the press release:

“Given the incredible work that Ari and Endeavor have done to grow the UFC brand – nearly doubling its revenue over the past seven years – and the immense success we’ve already had in partnering with their team on a number of ventures, I believe that this is without a doubt the best outcome for our shareholders and other stakeholders.

“Together, we will be a $21+ 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. I, along with the current WWE management team, look forward to working closely with Ari and the Endeavor and UFC teams to take the businesses to the next level.”

You can view the full press release here.

We will continue to update this major story as more becomes available.

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