The acquisition of Stamford-based WWE (NYSE:WWE) by Endeavor Group Holdings (NYSE:EDR), the parent company of UFC, was completed today with the launch of TKO Group Holdings Inc. as the merged company, which began trading on the New York Stock Exchange under the ticker “TKO.”
Endeavor will own a 51% controlling interest in the new company, with CEO Ariel Emanuel as the chief executive of TKO. Existing WWE shareholders will hold a 49% interest in the new company, on a fully diluted basis, with WWE”™s Vince McMahon serving as executive chairman.
Mark Shapiro, president and chief operating officer of Endeavor, will continue in that role and Nick Khan will continue as WWE president. Dana White, the CEO of UFC, will also retain his position.
“The creation of TKO marks an exciting new chapter for UFC and WWE as leaders in global sports and entertainment,” said Emanuel. “Given their continued connectivity to the Endeavor network, we are confident in our ability to accelerate their respective growth and unlock long-term sustainable value for shareholders. With UFC and WWE under one roof, we will provide unrivaled experiences for more than a billion passionate fans worldwide.”
“This is the culmination of a decades-long partnership between Endeavor and WWE across strategic initiatives including talent representation and media rights,” said McMahon. “Given our collaborative, trusted relationship and Endeavor”™s incredible track record of success growing UFC, we believe WWE is optimally positioned for future growth and success as part of TKO. Our focus remains on delivering for our fans across the globe as we take the business to the next level alongside UFC and Endeavor.”
TKO will begin trading today on the New York Stock Exchange under the ticker symbol “TKO,” with Endeavor holding a 51% controlling interest in the new company and existing WWE shareholders holding a 49% interest in the new company, on a fully diluted basis.
