WWE-UFC merger to form $21 bn powerhouse entertainment company
Endeavour Group Holdings Inc (EDR) logo.
Endeavor Group has just announced a monumental merger between two iconic sports entities, the WWE and the UFC. This agreement is valued at over $21 billion and is set to create a global live sports and entertainment powerhouse.
The emerging company, currently referred to as "NewCo," will be 51 per cent owned by Endeavor, with WWE shareholders owning the remaining 49 per cent.
The WWE and UFC have been at the forefront of sports entertainment for decades, consistently demonstrating innovation and shareholder value creation.
This merger is a rare opportunity to create a new era of global sports and entertainment built for where the industry is headed.
Ariel Emanuel, CEO of Endeavor, expressing his excitement, stated "We are confident that Endeavor can deliver significant additional value for shareholders by bringing UFC and WWE together."
The announcement has been met with an overwhelmingly positive response from both shareholders and fans of both brands. The merger is expected to create a collective fanbase of over one billion people, providing an exciting growth opportunity for the new company.
The powerhouse merger
Vincent McMahon, the WWE Executive Chairman, has welcomed the merger stating that it is the best outcome for the shareholders with a dynamic advance towards becoming a "$21+ billion live sports and entertainment powerhouse."
The new company would be headed by Ariel Emanuel as the CEO, with Vince McMahon as Executive Chairman of the Board and Mark Shapiro as President and Chief Operating Officer of both Endeavor and the new company.
Dana White will continue as President of UFC, and Nick Khan will serve as President of WWE.
WATCH | WWE and UFC creates sports entertainment giant Endeavor, sign a merger in $21 billion deal
The Board of Directors will comprise 11 members who will be appointed later, six of whom will be appointed by Endeavor and five by WWE.
This monumental merger is set to maximise the value of combined media rights, enhance sponsorship monetisation, develop new forms of content, and pursue other strategic mergers and acquisitions to bolster their strong, stable brands further.
The future is bright for "NewCo," and fans can't wait to see what exciting developments lie ahead for the new global sports and entertainment powerhouse.
(With inputs from agencies)
You cannow write for wionews.comand be a part of the community. Share your stories and opinions with ushere.
WATCH WION LIVE HERE