World Wrestling Entertainment (WWE) is merging with Endeavor Group, the parent company of competitor UFC, forming a new and MAJOR publicly traded company. How major is it, you ask?
This deal values the newly combined company at over $21 billion – UFC is currently worth $12.1 billion and WWE is currently valued at $9.3 billion.
The announcement came hours after WWE hosted WrestleMania 39 in Inglewood, California.
Shareholders from Endeavor will own roughly 51% of the combined company while WWE shareholders are receiving a whopping 49% – not too shabby if you ask me.
“This is a rare opportunity to create a global live sports and entertainment pureplay built for where the industry is headed,” said Ariel Emanuel, CEO of Endeavor, in a statement.
WWE Executive Chairman Vince McMahon added, “Together, we will be a $21+ billion live sports and entertainment powerhouse with a collective fanbase of more than a billion people and an exciting growth opportunity. 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 bolster our strong stable of brands.
McMahon continued, I, along with the current WWE management team, look forward to working closely with Ari and the Endeavor and UFC teams to take the businesses to the next level.”
McMahon, who retired last year amid an alleged sexual misconduct scandal, returned to the company in January to sell the company. He was later elected to executive chairman and retains the exclusive rights to WWE in the event of a sale as well.
Add comment