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WWE, UFC merger officially closes; deal creates new company called 'TKO Group'

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Professional wrestling promotion juggernaut WWE formally tied the knot with UFC's parent company Endeavor to form a new company called TKO Group.

Endeavor CEO Ari Emanuel is set to keep his same role. Meanwhile, WWE's Vince McMahon will serve as the new firm's executive chair.

World Wrestling Entertainment Inc. Chairman Vince McMahon appears in the ring during the WWE Monday Night Raw show at the Thomas & Mack Center Aug. 24, 2009 in Las Vegas.for $4 billion. Endeavor will likely follow the plan the company executed after the UFC takeover in an effort to deliver millions in cost synergies. At some point, WWE is expected to be integrated into Endeavor’s global infrastructure.

The logo for World Wrestling Entertainment, appears above a trading post on the floor of the New York Stock Exchange, Sept. 13, 2019.

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