WWE Sold To UFC Parent Company Endeavor
Less than 24 hours after the final bell of Wrestlemania 39--and amid swirling rumors that began earlier Sunday--Endeavor has announced it will acquire WWE and combine it with the UFC, which it also owns, to form a brand-new live entertainment company.
Endeavor--a Hollywood representation company that has worked with the NFL, NCAA, and more--and its shareholders will own 51% of the new company, while shareholders of WWE will own the remaining 49%. The new company created by this transaction will be valued at approximately $21.4 billion, with $12.1 billion of that value coming from UFC and the other $9.3 billion from WWE. The sale is expected to pass regulators and close by the end of 2023.
Today, <a href=«https://twitter.com/Endeavor?ref_src=» https:>@Endeavor
announced it has signed an agreement to form a $21+ billion global live sports and entertainment company made up of <a href=«https://twitter.com/ufc?ref_src=» https:>@UFC and <a href=«https://twitter.com/WWE?ref_src=» https:>@WWE. https://t.co/lPrkBmKJXm pic.twitter.com/ZBk95c5exU
The new company will be led by Endeavor CEO Ariel Emanuel, who will also continue in that role. Vince McMahon, the creator of the WWE, will act as executive chairman of the board, and president and COO Mark Shapiro.
Dana White will remain president of UFC, while Nick Khan will act as president of WWE. A new board of directors will also be created for the new company, with six members appointed by UFC and five by WWE.
CNBC originally broke the story just before 4:30 PM ET on Sunday, hours before the second night of Wrestlemania 39 was scheduled to begin. Paul «Triple H» Levesque, chief content officer of WWE, was asked about the rumor during the post-Wrestlemania press conference, but he
Read more on gamespot.com
