Endeavor has announced the acquisition of World Wrestling Entertainment, forming a new publicly listed company consisting of both WWE and the UFC brands. In ownership, Endeavor now has 51% controlling interest in the new company, with WWE shareholders maintaining 49%.
The deal creates a $21 billion live sports and entertainment conglomerate.
“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. “For decades, Vince and his team have demonstrated an incredible track record of innovation and shareholder value creation, and we are confident that Endeavor can deliver significant additional value for shareholders by bringing UFC and WWE together.”
“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 a number of ventures, I believe that this is without a doubt the best outcome for our shareholders and other stakeholders,” said Vincent K. McMahon, Executive Chairman of WWE.
McMahon continued, “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. 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.”
The new company will place Emanuel as CEO and keep him in the same spot as Endeavor while also employing McMahon as Executive Charman of the Board and Mark Shapiro as President and COO of Endeavor and the new company. Dana White will continue as President of UFC, and Nike Khawn will be president of WWE.
You can learn more about the deal here.
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