UFC, WWE Combine to Create $21.4B Entertainment Company
By Mike Coppinger, ESPN.com
Endeavor, the parent company of UFC, and WWE announced on Monday that they have signed a landmark agreement to form a new, publicly traded company — listed on the New York Stock Exchange as “TKO” — that will consist of the MMA and pro wrestling brands.
The sale of WWE to Endeavor — which is expected to close in the second half of this year pending regulatory approval — will merge the two biggest global brands in combat sports.
The transaction values the new, unnamed sports entertainment company at $21.4 billion (UFC at $12.1 billion and WWE at $9.3 billion). Endeavor CEO Ari Emanuel will continue in that role along with becoming the CEO of the new company.
Vince McMahon, who purchased what was then called the WWF in 1982 from his father for approximately $1 million, will serve as executive chairman of the 11-member board. Dana White will continue to serve as president of UFC, and Nick Khan will serve as president of WWE.
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