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UFC, WWE combine to form $21.4B sports entertainment company

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Less than 12 hours after the conclusion of WWE's marquee event, Wrestlemania, the company was sold to Endeavor, who plans to combined the WWE and UFC into one company.

A new publicly traded company will be formed that houses the UFC and WWE brands, with Endeavor Group Holdings Inc. taking a 51% controlling interest in the new company. Existing WWE shareholders will hold a 49% stake.The new business, which does not yet have a name, will be lead by Endeavor CEO Ari Emanuel. Vince McMahon, executive chairman at WWE, will serve in the same role at the new company. Dana White will continue as president of UFC and Nick Khan will be president at WWE.

The announcement arrives after McMahon, the founder and majority shareholder of WWE, returned to the company in January and said that it could be up for sale. The company held its marquee event, WrestleMania, over the weekend. Last year, WWE booked revenue of $1.3 billion. The new company plans to trade on the New York Stock Exchange under the “TKO” ticker symbol. Its board will have 11 members, with six being appointed by Endeavor and five being appointed by WWE.

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