Felix Upton on September 12, 2023
WWE is embarking on a new chapter in the company’s history, as they have now merged with the UFC. TKO Holdings Group is now the new parent company under Endeavor’s leadership, and they are getting off to a big start.
Endeavor has finalized the UFC and WWE transaction to establish TKO Group Holdings, a sports and entertainment company. TKO unites UFC, a leading mixed martial arts organization, with WWE, a global sports entertainment media entity, to form a premium company serving over one billion diverse and youthful fans across 180 countries. It manages 350 yearly live events and aims to enhance revenue growth by capitalizing on Endeavor’s proficiency in media rights, ticket sales, event operations, global partnerships, licensing, and premium hospitality.
Ariel Emanuel, CEO of Endeavor and TKO, opened up about this new merger in a press release. He is very happy about what the TKO Holdings Group has in their future, and he is very confident about the partnership.
“The creation of TKO marks an exciting new chapter for UFC and WWE as leaders in global sports and entertainment. Given their continued connectivity to the Endeavor network, we are confident in our ability to accelerate their respective growth and unlock long-term sustainable value for shareholders. With UFC and WWE under one roof, we will provide unrivaled experiences for more than a billion passionate fans worldwide.”
Vince McMahon also commented on this merger’s completion. He opened up in that press release about this massive change for the company he led for decades. This was the result of a lot of work, and he is very happy to see what is next under Endeavor’s umbrella and the company’s new Board of Directors.
“This is the culmination of a decades-long partnership between Endeavor and WWE across strategic initiatives including talent representation and media rights. Given our collaborative, trusted relationship and Endeavor’s incredible track record of success growing UFC, we believe WWE is optimally positioned for future growth and success as part of TKO. Our focus remains on delivering for our fans across the globe as we take the business to the next level alongside UFC and Endeavor.”
TKO will commence trading today on the New York Stock Exchange using the ticker symbol “TKO.” In this new venture, Endeavor will retain a 51% controlling stake, while existing WWE shareholders will hold a 49% interest, considering full dilution. We will have to see how things pan out for both companies.
WWE and UFC are the biggest brands in their respective fields. Now, we get to see what this partnership can bring to the table. Obviously, there are a lot of unanswered questions right now, but we will be here for you to bring all the updates at Ringside News.
What’s your take on the UFC and WWE merger? Sound off in the comments to let us know what you think!
September 12, 2023 9:27 am
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