UFC parent company Endeavor has bought a majority stake in World Wrestling Entertainment (WWE).
The global sports firm said that a new publicly listed company would be formed that combines the UFC and WWE brands – making them worth more than $21 billion.
The new deal will give Endeavor majority ownership at 51% in the new entity, while WWE will control the remaining percentage.
Since 2019, both the UFC and WWE have achieved 10% annual revenue growth each since 2019. And both combined for $2.4 billion in revenue during fiscal 2022.
At the transaction, the UFC is valued at $12.1 billion and WWE is worth $9.3 billion, according to Endeavor
“Together, we will be a $21+ billion live sports and entertainment powerhouse with a collective fanbase of more than a billion people and an exciting growth opportunity,” Vincent K. McMahon, executive chairman of WWE said in a statement.
“I believe that this is without a doubt the best outcome for our shareholders and other stakeholders,”
The new company will be led by Ariel Emanuel, chief executive officer of Endeavor.
While Endeavor confirmed Dana White will continue his role as UFC President, it’s unclear if he will he take on new responsibilities with the entity.
But he did say in a statement today in reaction to the news that he’s “excited to take this to another level.”
“Vince is a savage in the wrestling space, Ari is a beast at what he does, and then add what we at UFC bring to the table and there is no limit to what this company can accomplish in the next few years.”
While the board of directors “unanimously” approved the deal, keep in mind that the closure of the deal is pending conditions including regulatory approvals.
However, Endeavor expects the deal to close in the second half of this year.
