WWE fans had been anticipating this day for months, and it finally arrived yesterday. A groundbreaking deal took place on Monday as Vince McMahon’s World Wrestling Entertainment (WWE) and Dana White’s Ultimate Fighting Championship (UFC) were merged to create a $21 billion entertainment powerhouse under the leadership of Endeavor Group Holdings and Ari Emanuel as CEO.
Today, @Endeavor announced it has signed an agreement to form a $21+ billion global live sports and entertainment company made up of @UFC and @WWE. https://t.co/lPrkBmKJXm pic.twitter.com/ZBk95c5exU
— Endeavor (@Endeavor) April 3, 2023
For months, there have been talks to sell WWE, a professional wrestling organization run by the McMahon family. This time, the company came quite close to securing a deal with the parent company of the UFC after several prior unsuccessful attempts. Wrestling fans were focused on the amazing two-night WrestleMania spectacle when the shocking development regarding the future of WWE happened.
Vince McMahon bought the WWE from his father for $1 Million in 1982
Today he signed a merger deal with UFC parent company Endeavor Group $EDR that values the $WWE at $9.3 Billion pic.twitter.com/AwCpuQvTRw
— Savvy Trader (@SavvyTrader) April 3, 2023
Who will be in the leadership of the newly formed $21+ billion entertainment titan?
As a visionary, Ari Emanuel, the CEO of Endeavor Group Holdings, will serve as CEO of the newly formed business. Vince McMahon, who owns the majority of WWE and serves as the company’s executive chairman, will handle the wrestling business while Ari handles Endeavor.
Together with Dana White, Nick Khan will continue to serve as president of the WWE as he presently does while Dana White will continue to serve as president of the UFC. Nonetheless, Mark Shapiro will lead both Endeavor and the newly established company as president and chief operating officer.
BREAKING NEWS: The sale of WWE has been confirmed.
Endeavor have announced that WWE and the UFC will form a $21 billion global live sports and entertainment company.
— Wrestle Features (@WrestleFeatures) April 3, 2023
In a statement from the new company, it has been confirmed that the process of merging will take about a few months. Endeavor Group and WWE will conclude the deal within the second of this year. In a statement, the companies have expressed their desire and dream to continue working together and achieve greater goals for the betterment of the sports and entertainment industry.
Emanuel also released a public statement yesterday to confirm the grand deal with McMahon’s company. Ari hopes to hold the legacy of WWE in the future that took forty years to build. The CEO of Endeavor Group Holdings says, “This is a rare opportunity to create a global live sports and entertainment pureplay built for where the industry is headed.”
“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,” Emanuel added.
BREAKING: Endeavor is finalizing a deal to buy WWE, according to @sherman4949.
Endeavor will then combine WWE and the UFC into one publicly traded company.
Shares of WWE are up 33% this year, and the deal gives WWE an enterprise value of more than $9 billion. pic.twitter.com/kjSt3v9qtf
— Joe Pompliano (@JoePompliano) April 2, 2023
What do you think about Endeavor acquiring WWE? Comment below and let us know what you think.
