World Wrestling Entertainment in talks to merge with UFC owner
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World Wrestling Entertainment (WWE) and Endeavor Group (owner of the UFC fighting organization) are in advanced merger talks. CNBC. According to the channel’s sources, a new public company will be created as a result.
According to preliminary agreements, Endeavor shareholders will receive 51% of the share capital in the combined company, and the remaining 49% will go to WWE shareholders, respectively. Endeavor estimates the WWE takeover at $9.3 billion. Officially, the deal could be announced as early as today, April 3rd.
As a result of the deal, WWE will cease to be the McMahon family business. The company was founded in 1953 by Jess McMahon. And in 1982, it came under the control of his son Vince, who still had a controlling stake in the entertainment company.
It is expected that after the closing of the transaction, the current head of Endeavor, Ari Emanuel, will become the CEO of the new company. The combined company will be chaired by Vince McMahon and president by Mark Shapiro, who holds a similar position at Endeavor. Dana White will remain president of the UFC, while WWE CEO Nick Khan will act as president of the wrestling business.
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