The new business will be lead by Endeavor CEO Ari Emanuel. Vince McMahon, executive chairman at WWE, will serve in the same role at the new company.
Rumors swirled about who would possibly be interested in buying WWE, with chatter focusing on companies such as Endeavor, Disney, Fox, Comcast, Amazon and Saudi Arabia’s Public Investment Fund. The company held its marquee event, WrestleMania, over the weekend. Last year, WWE booked revenue of $1.3bn.