TKO, New Parent Company of WWE and UFC, Shares Climb 2.6% in Stock Market Debut

  • 📰 Variety
  • ⏱ Reading Time:
  • 45 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 63%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Investors cheered as TKO Group Holdings, the new parent company of UFC and WWE, clambered into the Wall Street ring. Shares of TKO, which began trading Tuesday on the New York Stock Exchange, close…

Shares of TKO, which began trading Tuesday on the New York Stock Exchange, closed up 2.6% on the day, to $103.22 per share after opening at $102. Meanwhile,’s stock rose 1.1%, to $22.16/share, as investors reacted to the company’s move to carve UFC off into TKO. Endeavor properties include WME, IMG and the Professional Bull Riders , among other media assets. The gains came amid declines for major market indexes including the S&P 500 and Nasdaq .

Initially, TKO will be fully focused on integrating the operations of WWE and UFC, Mark Shapiro said in an interview with. “We’ll keep an eye on potential strategic pocket acquisitions, but we’ve got our work cut out for us. We’re highly focused on the integration, and we’re not going to get sidetracked,” he said. Eventually, though, Shapiro said TKO could be in the market for M&A deals to acquire additional MMA or wrestling properties.

“We have been writing with enthusiasm about the combination of Buy-rated Endeavor’s UFC and Neutral-rated WWE to form the new TKO Group Holdings that just started trading,” Joyce wrote in a Sept. 12 research note to clients. “We like the 10%+ long-term EBITDA CAGR that we think can be realized from providing each company with more scale in order to leverage into incremental global fan engagement, media rights fees and event volumes.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 108. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

WWE, UFC merger officially closes; deal creates new company called 'TKO Group'Professional wrestling promotion juggernaut WWE formally tied the knot with UFC's parent company Endeavor to form a new company called TKO Group.
Source: FoxBusiness - 🏆 458. / 53 Read more »

Endeavor Closes UFC, WWE Merger, Creating Powerhouse Firm TKO Group'We're ready to fire out of the gate,' says Mark Shapiro, Endeavor's president and COO, who will hold the same title at the combined company.
Source: THR - 🏆 411. / 53 Read more »