Endeavor will own 51 percent of the new company, while WWE shareholders will hold 49 percent of the new company. The deal values WWE at $9.3 billion and UFC at $12.1 billion.
World Wrestling Entertainment ie WWE has been sold. It has been bought by Endeavor Group, the parent company of Ultimate Fighting Championship. Now WWE and UFC will be merged. After which a new company will be formed. Endeavor will own 51 percent of the new company, while WWE shareholders will hold 49 percent of the new company. The deal values WWE at $9.3 billion and UFC at $12.1 billion. The name of the merged company will be announced at a later date, and the board will consist of 11 people, six of whom will be hired by Endeavor and five by WWE.
Endeavor CEO Ari Emmanuel will serve as chief executive of both Endeavor and the new company, with Vince McMahon as executive chairman. Dana White will remain as president of the UFC, and WWE CEO Nick Khan will remain as president of the wrestling business. The merged company will bring together two of the world's biggest sports entertainment brands, despite their differences in content and culture. UFC features authentically brutal mixed martial arts fights, while WWE features scripted matches and soap opera-like storylines.
The confirmation of the merger came a day after WWE's main live event, WrestleMania, in California. The company had been searching for a buyer for several months, and McMahon returned as chairman in January to oversee the process. WWE shares have seen an increase of more than 33 percent this year, after which the market value of the company has increased to more than $ 6.79 billion.
After Mazarr, the family business will end with WWE. This company was founded by McMahon's father in the middle of the 20th century. For the last 40 years, WWE has increased its name globally. The company has produced stars such as Hulk Hogan, Dwayne "The Rock" Johnson, Ric Flair, Batista and John Cena. Merging with WWE Endeavor will give more strength to the shareholders. WWE earned $1.29 billion in revenue last year, mainly driven by its $1 billion media unit. UFC generated revenue of $1.3 billion last year.
The cultures of Endeavour, UFC and WWE fit each other perfectly. The reason for this is also that the way of working of the leaders of the companies is a bit hard. McMahon, Emanuel and White are their big size personalities. All three have no dearth of devoted partners and harsh critics. White faced a scandal earlier this year. A video surfaced in which he was shown slapping his wife during a public debate at a New Year's Eve party in Mexico. Later he apologised.
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