WWE and the company that runs Ultimate Fighting Championship will combine to create a $21.4 billion sports entertainment company.
He also provided some idea of where the focus of the new company will be, saying that it will look to maximize the value of combined media rights, enhance sponsorship monetization, develop new forms of content and pursue other strategic mergers and acquisitions to further bolster their brands. McMahon, in an interview with CNBC, addressed the notion that there was doubt among some WWE fans and industry experts that he would ever make a deal for the business. "It's the right time to do the right thing. And it's the next evolution of WWE," he said.
McMahon acknowledged to CNBC that there were several suitors for WWE, but that combining with Endeavor is the right move. The company held its marquee event, WrestleMania, over the weekend. Last year, WWE booked revenue of $1.3 billion.
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