WWE has officially been sold to Endeavor Group Holdings, which also owns mixed martial arts company UFC, which will form a combat sports juggernaut worth over $21 billion. Current WWE shareholders will own 49% of the new company, which will trade under the stock symbol TKO. WWE announced the news in a press conference this morning.
Dana White will continue in his role as President of UFC, while former WWE CEO Nick Khan will become President of WWE. Vince McMahon will serve as Executive Chairman of the Board, while current Endeavor CEO Ari Emanuel will remain in his role.
Said Vince, “Given the incredible work that Ari and Endeavor have done to grow the UFC brand – nearly doubling its revenue over the past seven years – and the immense success we’ve already had in partnering with their team on a number of ventures, I believe that this is without a doubt the best outcome for our shareholders and other stakeholders.”
It’s a strange feeling for wrestling fans that WWE, the unstoppable force of sports entertainment that single handedly turned professional wrestling from a local sideshow to a worldwide phenomenon under the ruthless singular vision of Vince McMahon, to now be another brand in a different company’s stock portfolio. UFC fans generally have a negative perception of Endeavor’s shaping of its product as well, but it remains to be seen what, if any, changes this will mean for WWE’s television product.
You must be logged in to post a comment Login