UFC parent company Endeavor Group Holdings Inc. have began the process to acquire World Wrestling Entertainment Inc. (WWE), a professional wrestling promotion known for it’s live events like Monday Night Raw, Friday Night Smackdown, NXT 2.0 and WrestleMania, which are all professional wrestling pay-per-view and livestreaming event.
WWE is also home to household names like Hulk Hogan, Andre The Giant, the Ultimate Warrior and Machoman Randy Savage. This is also where Dwayne “the Rock” Johnson started before becoming a successful actor and producer as well John Cena, known for his catch phrase “You Can’t See Me.”
Both UFC and WWE will form a new sports entertainment company valued at about $21 billion, the companies said on Monday. Endeavor Group Holdings Inc. which owns and operates UFC, will own a 51% stake in WWE, the professional wrestling outfit operated by Vince McMahon, who will retain his role in the new company. The transaction values UFC at $12.1 billion and WWE at $9.3 billion.
The combined company, which will be traded publicly under ticker symbol “TKO” on the New York Stock Exchange, and will take on a new name once the deal is done.
“This is a once-in-a-lifetime opportunity to bring together two leading pure-play sports and entertainment companies,” Endeavor CEO Ari Emanuel said in an investor presentation, describing the deal as a “transformational step” for Endeavor.
With UFC and WWE under one roof, there is a big possibility of a crossover where UFC fighters make an appearance on any WWE matches or a WWE Superstar participate in a UFC fight.
I guess we just have to wait and see!
Source: Reuters, Endeavor