World Wrestling Entertainment (WWE) and the Ultimate Fighting Championship (UFC) are set to combine forces, creating a sports entertainment company worth $21.4 billion. The new publicly traded company will merge UFC and World Wrestling Entertainment brands, with Endeavor Group Holdings Inc. taking a 51% controlling interest and existing WWE shareholders retaining a 49% stake.
Endeavor CEO, Ari Emanuel, will head the new company, with Vince McMahon serving as executive chairman. Dana White is set to continue as president of the UFC, while Nick Khan will be president at WWE.
The company’s main objective will be to maximize the value of combined media rights while enhancing sponsorship monetization, developing new forms of content, and more.
Interestingly, the talent synergy between WWE and UFC has always been present, with stars such as Brock Lesnar and Ronda Rousey enjoying successful crossovers. The deal propels WWE into a new era beyond its decades-long run as a family-run business and opens the door for potential betting on WWE events.
Monday’s announcement comes after McMahon, WWE’s founder and majority shareholder, returned to the company in January and hinted the wrestling giant could be for sale.
The new combined company will trade on the New York Stock Exchange under the ticker symbol TKO.
The transaction is set to close in the second half of the year, pending regulatory approval.
