After Wrestlemania weekend WWE announces a merger.
WWE and UFC are merging in a historic new agreement. After concluding Wrestlemania 39, World Wrestling Entertainment, Inc. has announced that they have signed a definitive agreement to form a new, publicly listed company. It comprises two iconic global sports and entertainment brands: UFC and WWE. Upon close, Endeavor will hold a 51% controlling interest in the new company, and existing WWE shareholders will have a 49% interest in the new company.
With this merger, both will have global reach, impressive scale, and omnichannel distribution. The new company will be led by Emanuel (Chief Executive Officer), who will also continue in his role as Chief Executive Officer of Endeavor, McMahon (Executive Chairman of the Board), and Mark Shapiro, who will be President and Chief Operating Officer of both Endeavor and the new company. In addition, Dana White will continue as President of UFC, and Nick Khan will serve as President of WWE. The transaction values UFC at an enterprise value of $12.1 billion and WWE at an enterprise value of $9.3 billion.
“Given the incredible work that Ari 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 several ventures, I believe that this is without a doubt the best outcome for our shareholders and other stakeholders.”Vincent K. McMahon, Executive Chairman of WWE.