WWE Announces Sale, Merger Of Company

STAMFORD, CT — On the morning after Wrestlemania 39 wrapped up in Los Angeles, Stamford-based World Wrestling Entertainment, Inc., announced Monday that it will merge with Endeavor, the parent company that runs Ultimate Fighting Championship, to create a $21-plus billion global live sports and entertainment company.

The deal is expected to close in the second half of 2023.

Upon closing, Endeavor will own 51 percent of the new publicly listed company, while WWE shareholders will hold a 49 percent interest, a news release from WWE said.

The transaction values UFC at $12.1 billion, and WWE at $9.3 billion, the news release from WWE stated.

The new company will be led by Ariel Emanuel, chief operating officer of Endeavor, and Vince McMahon, executive chairman of WWE's board of directors, along with Mark Shapiro, who will be president and chief operating officer of both Endeavor and the new company.

Dana White will continue in his role as president of UFC, and Nick Kahn will serve as president of WWE. The board of directors will consist of 11 members — six appointed by Endeavor, and five appointed by WWE.

"Together, we will be a $21-plus billion live sports and entertainment powerhouse with a collective fanbase of more than a billion people and an exciting growth opportunity," McMahon said in a news release. McMahon came out of retirement earlier this year and returned to WWE to pursue a sale of the company.

"The new company will be well positioned to maximize the value of our combined media rights, enhance sponsorship monetization, develop new forms of content and pursue other strategic mergers and acquisitions to further bolster our strong stable of brands," McMahon added. "I, along with the current WWE management team, look forward to working closely with Ari and the Endeavor and UFC teams to take the businesses to the next level."

Emanuel called it a "rare opportunity" to create a global live sports and entertainment "pure play."

"For decades, Vince and his team have demonstrated an incredible track record of innovation and shareholder value creation, and we are confident that Endeavor can deliver significant additional value for shareholders by bringing UFC and WWE together," Emanuel said in a news release.

The deal, when finalized, will conclude WWE's run of being a family business.

McMahon purchased what was then the World Wrestling Federation in the early 1980s from his father, Vincent J. McMahon, and helped bring wrestling and sports entertainment to new heights both across the United States and around the world.