Endeavor confirm agreement to buy WWE, set to form $21,000,000,000 merger with the UFC
Endeavor, the parent company of the UFC, have confirmed via an official press release this Monday morning, that they have struck an agreement to acquire the WWE (World Wrestling Entertainment), with both companies sent to merge as part of a whopping $21,000,000,000 publicly traded entity.
Late last night, reports emerged detailing how the Ari Emanuel headed company, were engaged in advanced talks to acquire the WWE, who had hosted a two-night flagship WrestleMania event this weekend in Hollywood, California.
Of note, the deal, which includes both the UFC and WWE, would see the Dana White-led and Nick Khan-led organizations combine and merge into one publicily traded company.
With the deal, Endeavor are expected to own 51% of the new merged company involving UFC and WWE, with shareholders of the professional wrestling promotion set to hold 49% of the company.
The aforenoted leader, Emanuel is expected to act as chief executive of the newly merged company, with Vince McMahon expected to land as an executive chairman, joined by president, Mark Shapiro. As noted, UFC president, Dana White will remain, as will WWE CEO, Nick Khan.
Endeavor confirm agreement to purchase the WWE
On Twitter this morning, the company confirmed the agreement to acquire the WWE and merge with the UFC, with chief executive, Emanuel providing a follow-up statement on the deal.
“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,” A tweet read.
“This is a rare opportunity to create a global live sports and entertainment purepplay built for where the industry is headed,” Ari Emanuel said. “For decades, Vince and his team have demonstarted an incredible track record of innovation and shareholder value creation, and we are confident that Endeavor can deliver significant additional value for shareholders by brining UFC and WWE together.”
