of UFC and WWE merged under a new company name. TKO Group Holdingsaiming to go public by the end of 2023. by endeavor, UFC’s current parent company, shared via CNBC after first revealing the merger plans in April. Upon completion of the merger, TKO Group Holdings will operate under the TKO symbol on the New York Stock Exchange and is expected to be valued at over $21 billion.
The merger came after Endeavor acquired UFC in 2016 and acquired a majority stake in World Wrestling Entertainment. Endeavor CEO Ari Emmanuel will become CEO of TKO Group Holdings, while WWE controlling shareholder Vince McMahon will serve as executive chairman. Endeavor will own a 51% stake in the new company structure, with WWE shareholders controlling the remaining 49%.
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Current UFC Chairman Dana White will continue in his position, while Nick Karn will remain WWE Chairman. The formation of this new company is not expected to have an immediate impact on the day-to-day operations of UFC or WWE. In return, both organizations will be able to leverage their respective strengths in areas such as promotion, advertising and sponsorships.
TKO Group Holdings is poised to secure lucrative broadcast rights deals with both the UFC and WWE, which could help boost the company’s reputation even further in the years to come. Ari Emmanuel expressed his enthusiasm for the merger, highlighting it as a unique opportunity to create a global live sports and entertainment entity in line with industry trends. He praised Vince McMahon and his team’s history of innovation and shareholder value creation, and expressed confidence that the combined UFC and WWE will create significant added value for shareholders.
Endeavor plans to complete the UFC-WWE merger in the second half of 2023, pending regulatory approval. After the merger is complete, Endeavor will proceed with the complete spin-off of TKO Group Holdings, with the aim of listing the company on a stock exchange.
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