The World Wrestling Entertainment (WWE) and the mixed martial arts franchise UFC, both owned by Endeavor Group, have declared their merger. This amalgamation is set to create a colossal entertainment conglomerate valued at approximately $21 billion, as announced by the companies today.
This agreement marks the culmination of WWE’s arduous months-long sale process, which was under the leadership of its co-founder, Vince McMahon. As a result of the merger, a new entity will come into existence, which will be predominantly owned by Endeavor with a controlling interest of 51%. Upon completion of the merger between the WWE and UFC, the resulting corporation, with Endeavor as its majority stakeholder, will be publicly traded on the New York Stock Exchange. The corporation will be listed under the ticker symbol “TKO,” a symbol that is synonymous with technical knockouts, which is a fitting choice for an entity that is set to revolutionize the sports entertainment industry.