Ari Emanuel, the super-agent who runs Endeavor, will be CEO of the company while WWE boss Vince McMahon will serve as executive chairman.
Dana White, the president of UFC, will continue in his current role while WWE CEO Nick Khan will keep his title.
Ari Emanuel’s Endeavor is the parent company of mixed martial arts powerhouse Ultimate Fighting Championship.“Together, we will be a $21+ 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 prepared statement Monday.“This is a rare opportunity to create a global live sports and entertainment pureplay built for where the industry is headed,” said Emanuel.
“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.”Endeavor’s stock was trading at around 2.8% higher before the opening bell.
The announcement arrives after McMahon, the founder and majority shareholder of WWE, returned to the company in January and said that it could be up for sale.Endeavor will acquire WWE for $21.4 billion, the two companies announced on Monday.McMahon returned in January by exercising his power as majority shareholder — pushing his way back on the board of directors as executive chairman in order to oversee a potential sale of the company.
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