Endeavor UFC, WWE to merge; Ari Emanuel to serve as CEO, Vince McMahon as CEO – The Hollywood Reporter

Endeavor Holdings World Wrestling Entertainment made things official on Monday, unveiling a definitive agreement to form a new publicly traded company consisting of two “creative, complementary” global sports and entertainment brands: the UFC and WWE. Endeavor will own 51 percent of the controlling stock in the new company, with existing WWE shareholders owning 49 percent.

The new company will be led by Endeavor CEO Ari Emanuel as CEO, who will also go on to hold the same position for the remaining Endeavor, WWE CEO Vince McMahon as CEO, and Mark Shapiro as President and COO of both Endeavor and the new Endeavor. a company. Dana White will continue in his role as president of the UFC, with WWE CEO Nick Khan holding the same title of president as White but in WWE. The new company’s board of directors will consist of 11 later-appointed members, six of whom will be named by Endeavor and five by WWE.

The deal is expected to close in the second half. The UFC and WWE project an estimated $50 million-$100 million in annual cost synergies.

The company’s new publicly traded ticker symbol will be TKO, short for “Technical Knockout” in Combat Sports.

“Together, the UFC and WWE will have global reach, impressive scope, and multi-channel distribution,” the companies said. “Based on a combined 2022 fiscal year end, the UFC and WWE generated $2.4 billion in revenue and a 10% annual revenue growth rate since 2019.”

“This is a rare opportunity to create a world-class live entertainment and sports game designed to lead the industry,” said Emanuel. “For decades, Vince and his team have demonstrated a proven track record of innovation and creating shareholder value, and we are confident that Endeavor can deliver significant additional shareholder value by bringing the UFC and WWE together.”

McMahon added, “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 tremendous success we’ve already had partnering with their team on a number of projects, I think this is without a doubt the best outcome.” To our shareholders and other stakeholders.”

He added: “Together, we will be a $21 billion sports and entertainment hub with a collective fan base of more than 1 billion people and an exciting growth opportunity. The new company will be well-positioned to maximize the value of our syndicated media rights, enhance sponsorship monetization, and develop new formats.” of content and pursue other strategic mergers and acquisitions to further enhance our strong brand stability.”