Last month, Endeavor Group Holdings Inc and World Wrestling Entertainment Inc announced they have signed a definitive agreement to form a new publicly listed company worth $21.4 Billion by merging WWE and UFC.
Ariel Emanuel would be the CEO and Vince McMahon would be the Executive Chairman of the new company. Endeavor will own 51% of the new entity, with the remaining 49% owned by WWE shareholders.
CNBC reported that the new publicly listed company name would be TKO Group Holdings.
“The new operation will be called TKO Group Holdings, a spokesperson for Endeavor confirmed Tuesday. As previously announced, it will trade on the New York Stock Exchange under the ticker TKO.”
The deal is slated to close in the second half of the year after complying with the government’s regulations.
We will update you when we receive more details. Stay tuned with The Spotlight.