TKO Group Holdings will be formed in late September by merging WWE and UFC. TheSpotlightNews.com learned via SEC filings that 10 board members have been named for the publicly listed company. Endeavor Group Holdings already revealed their six members of the board. However, WWE has yet to confirm its fifth and final member.
According to the SEC filing, TKO Group Holdings will be located in New York, NY. WWE will continue its business at its current headquarters until it moves to the new HQ (677 Washington Boulevard). UFC will run its business in Las Vegas.
“the corporate headquarters and related corporate functions for (i) New PubCo will be at 200 Fifth Avenue, 7th Floor, New York, New York 10010, (ii) the WWE business will be at WWE’s existing headquarters until such time as WWE moves its next headquarters to the location set forth on WWE’s confidential disclosure letter delivered concurrently with the execution of the transaction agreement and (iii) the UFC business will be at UFC’s existing headquarters in Las Vegas, Nevada.”
CEO of Endeavor, Ariel Emmanuel, said during the second quarter earnings call that they were planning to reduce costs, which means mass layoffs will happen after TKO formation. However, it affects only corporate employees.
Stay tuned with The Spotlight for more news.
