 WWE and Endeavor have confirmed the planned UFC merger to form TKO is expected to close next week. The wrestling giant is set to be bought by the UFC's parent company to form a new business underneath Endeavor as the sports entertainment world is braced for major changes. In a press release, Endeavor and WWE announced they 'expect to close the previously announced transaction to form TKO Group Holdings, Inc. ('TKO') on September 12, 2023.' They added that at this time, 'TKO will begin trading on the New York Stock Exchange'. News of WWE being sold to Endeavor was officially announced the morning after WrestleMania 39 in Hollywood back on April 3. At the time, it was confirmed Endeavor CEO Ari Emanuel will serve in the same role for TKO Group, while WWE's controlling shareholder Vince McMahon will be executive chairman for the new company. WWE will be under new ownership for the first time in history (Picture: WWE) Endeavor will own a 51% stake in the new firm, while WWE shareholders will hold the remaining 49%. TKO – which will be worth a sensational $21.4billion (£17.30bn) – will see Dana White continue as president of UFC, and Nick Khan will serve the same role on the WWE side of the operation. In a statement back in April, McMahon said: 'Given the incredible work that Ari [Ariel Emanuel, CEO of Endeavor] and Endeavor have done to grow the UFC brand – nearly doubling its revenue over the past seven years – and the immense success we've already had in partnering with their team on a number of ventures, I believe that this is without a doubt the best outcome for our shareholders and other stakeholders.' He continued: 'Together, we will be a $21+ billion live sports and entertainment powerhouse with a collective fanbase of more than a billion people and an exciting growth opportunity.' The WWE chief said that the new company would be 'well positioned to maximize the value of our combined media rights, e){kind=link}
NEWS… BUT NOT AS YOU KNOW IT
WWE and Endeavor have confirmed the planned UFC merger to form TKO is expected to close next week.
The wrestling giant is set to be bought by the UFC’s parent company to form a new business underneath Endeavor as the sports entertainment world is braced for major changes.
In a press release, Endeavor and WWE announced they ‘expect to close the previously announced transaction to form TKO Group Holdings, Inc. (“TKO”) on September 12, 2023.’
They added that at this time, ‘TKO will begin trading on the New York Stock Exchange’.