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Endeavor Group Holdings Inc., the parent company of UFC, announced on Monday an agreement to acquire Vince McMahon’s WWE and formed a new public company.
Endeavor will hold a controlling 51% stake in the new company while WWE shareholders hold a 49% stake. The deal values the UFC at $12.1 billion and WWE at $9.3 billion. The announcement comes hours after WWE hosted WrestleMania 39 in Inglewood, California.
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Linda McMahon and Vince McMahon attend the New York Moves Magazine 10th Anniversary Power Women Gala at Grand Hyatt New York on November 14, 2013 in New York City. (Jim Spellman/WireImage/Getty Images)
“This is a rare opportunity to create a pure global live sports and entertainment game designed for the direction the industry is taking,” Endeavor CEO Ari Emanuel said in a press release. . “This is a rare opportunity to create a pure global game of live sports and entertainment designed for the direction the industry is taking.”
McMahon added, “Together, we will be a more than $21 billion live sports and entertainment powerhouse with a collective fan base of more than one billion people and an exciting opportunity for growth. The new company will well-positioned to maximize the value of our combined media rights, improve sponsorship monetization, develop new forms of content, and pursue other strategic mergers and acquisitions to further strengthen our strong stable of brands. current WWE leadership, I look forward to working closely with Ari and the Endeavor and UFC teams to take the businesses to the next level.”
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Dana White meets the press following fights at T-Mobile Arena for the UFC 285 -Jones vs. Gane: Event on March 4, 2023 in Las Vegas. (Louis Grasse/PxImages/Icon Sportswire via Getty Images/Getty Images)
Emanuel will become the company’s new CEO and will continue in his role as CEO of Endeavour. McMahon, who purchased WWE from his father in 1982, will serve as executive chairman of the board. Mark Shapiro will be the chief operating officer of the new company and of Endeavour. Nick Khan will serve as WWE Chairman and Dana White will continue as UFC Chairman.
McMahon, who retired last year amid a sexual misconduct scandal, returned to the business in January in a bid to sell the business. McMahon was then elected executive chairman. His daughter, Stephanie McMahon, had taken over alongside Khan as co-CEO when McMahon retired. Stephanie McMahon has since stepped down as chair and co-CEO.
| Teleprinter | Security | Last | Change | Change % |
|---|---|---|---|---|
| WWE | WORLD WRESTLING ENTERTAINMENT INC. | 84.23 | -7.04 | -7.71% |
| Teleprinter | Security | Last | Change | Change % |
|---|---|---|---|---|
| EDR | ENDEAVOR GROUP | 23.93 | +0.78 | +3.37% |
Khan, however, told CNBC that Vince McMahon is willing to leave the company in the event of a sale despite returning as executive chairman.
McMahon considers WWE his “life story”, and he will also retain the exclusive rights in the event of a sale. So books, documentaries and more can be made by him.
WrestleMania Goes Hollywood at SoFi Stadium on April 1, 2023 in Inglewood, California. (Ronald Martinez/Getty Images/Getty Images)
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When McMahon retired, the Wall Street Journal previously reported that he had paid more than $12 million over the past 16 years to “clear allegations of sexual misconduct and infidelity.”
Scott Thompson of Fox Business contributed to this report.