A bombshell is coming to the world of wrestling and mixed martial arts. As reported by The Hollywood Reporter, WWE and UFC are in the process of merging into TKO, a new major company that will be headed by Ari Emanuel, former CEO of Endeavor, and will feature Vince McMahon as executive chairman.
The new company, Endeavor Group Holdings World Wrestling Entertainment (TKO), comes after good negotiations between World Wrestling Entertainment (WWE) and Endeavor, the company behind the UFC. This second company will have more weight in the decisions of the new company, since it will have 51% of the total shares, while WWE will have 49%.
Wrestling’s deal of the century arrives
The two CEOs of the different companies seem to have reached a more than amicable agreement, and put the focus on leading the wrestling entertainment industry in the following years. Ari Emanuel has stated the following:
“This is a unique opportunity to create a global live sports and entertainment pureplay built for where the industry is headed. For decades, Vince and his team have demonstrated an incredible track record of innovation and shareholder value creation, and we are confident that Endeavor can deliver significant additional shareholder value by bringing UFC and WWE together.”
For his part, the also showman McMahon has made it clear that it is also a very beneficial agreement for the WWE, which despite not being the largest shareholder will also have a great weight in making all future decisions of TKO:
“This is undoubtedly the best outcome for our shareholders and other stakeholders. Together we will be a $21 billion-plus powerhouse in live sports and entertainment, with a collective fan base of more than one billion people and an exciting growth opportunity.
The agreement has been unanimously approved by the boards of directors of both parties. They expect to have everything in place in the second half of the year to start the next season united and stronger than ever.
“The new company will be well positioned to maximize the value of our combined media rights, enhance sponsorship monetization, develop new forms of content and pursue other strategic mergers and acquisitions to further strengthen our strong set of brands,” McMahon concludes.
