UFC, WWE combine to form $21.4B 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.

The announcement of the WWE transaction 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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UFC and WWE combine to create US$21.4B entertainment companyWWE and the company that runs Ultimate Fighting Championship will combine to create a US$21.4 billion sports entertainment 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
Source: CTVNews - 🏆 1. / 99 Read more »

UFC, WWE combine to form $21.4B sports entertainment companyThe 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.
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