WWE and UFC Proprietor, Endeavor, Merge to Become a $21 Billion Sports and Entertainment Behemoth
On Monday, the WWE and UFC proprietor, Endeavor Group Holdings, declared their intention to join forces to form an immense publicly owned entertainment conglomerate that is estimated to be worth in excess of $21 billion.
In January, Vince McMahon, co-founder and former CEO of WWE, returned to the wrestling company's board to investigate the possibility of a sale. Now, three months later, the two combat-sports powerhouses have merged.
There’s no way to see this merger other than an enormous dub for the home team. An enhanced UFC with WWE-supported showmanship provides an immediate victory to the sports world.
Endeavor and WWE have announced that the new company will be available for investing on the New York Stock Exchange, with the ticker symbol "TKO".
On Monday, McMahon declared in a statement that they will become a combined live sports and entertainment entity with a value of over $21 billion, attracting a combined fanbase of more than one billion people and presenting a tremendous growth opportunity.
Dana White, UFC President, & Vince McMahon both like to move fast with run-and-gun style executive leadership, so don’t expect them to delay any strategic updates to the newly formed combat conglomerate.
Per the terms of the merger, the value of WWE shares is set at around $106 each, a premium of 16% compared to the Friday closing price of $91.26.
Endeavor will possess the majority of the new company's shares, with 51% of the ownership, while WWE will possess the remaining 49%. Ari Emanuel will carry on as CEO, while McMahon will become executive chairman of the new firm's board of directors.
Emanuel gained recognition as a notable Hollywood representative and has invested in bull-riding, fashion, and tennis affairs in the past. He has promised to expand the business through advantageous media and licensing contracts and by optimizing operational effectiveness.
He proclaimed that this is a singular chance to put together a global live sports and entertainment program that is designed to accommodate the direction of the industry.
Emanuel continued, expressing their certainty that Endeavor will bring substantial gains to shareholders by uniting UFC and WWE, citing the decades-long history of Vince and his team in delivering inventive and highly profitable results.