Last April, World Wrestling Entertainment and Endeavor Group Holdings signed an agreement to form a publicly listed company by merging WWE and UFC. The new entity is named, “TKO Group Holdings, Inc.”
Endeavor will hold 51% of TKO while WWE shareholders retain 49%. They valued WWE at $9.3 billion and UFC at an enterprise value of $12.1 billion. Ari Emanuel will serve as the Chief Executive Officer and Vince McMahon will be the Executive Chairman of TKO Group Holdings, Inc.
Deadline reported that WWE and UFC merger is expected to close in mid-to-late September. During the second quarter earnings call, the CEO of Endeavor Ari Emanuel said that they are planning to make cost savings following TKO formation.
Recently, Vince McMahon underwent major spinal surgery. Later, McMahon informed WWE employees that he will focus on the formation of the new publicly listed company.
Stay tuned with The Spotlight for more news.
