Monster transaction: UFC and WWE will form a huge company
The company Endeavor confirmed on Monday the acquisition of 51% of the shares of World Wrestling Entertainment (WWE) and the joining with the Ultimate Fighting Championship (UFC) in order to constitute a company whose value is greater than $21 billion.
Thus, the two public companies will find themselves under the same banner, Endeavor (formerly William Morris Endeavor) having acquired the UFC for the sum of 4 billion in 2016. The new entity will be led by President and CEO Ari Emanuel, while Vince McMahon will serve as President. Nick Khan will take over as WWE Division President, while Dana White will take the same seat in the UFC.
“This is a rare opportunity to create a true live sports and entertainment group built on depending on the direction the industry is taking, Emanuel said in a statement. For decades, Vince and his team have demonstrated their incredible expertise in innovating and creating valuable content.”
WWE, which has welcomed more than 80,000 spectators for each of his two-night WrestleMania 39 gala at So-Fi Stadium in Los Angeles last weekend saw McMahon return to his entourage in January after announcing his retirement last year amid sexual misconduct allegations. Upon his return, he clarified that the federation might be up for sale.
As the news broke, WWE's stock value plummeted 4% on the stock markets. Endeavor's rose 7%.