As a result of Endeavor’s acquisition of the global multimedia giant, WWE is undergoing its most significant transformation in corporate history. This follows yesterday’s reports that the agreement would be disclosed today.
Vince McMahon returned to WWE to facilitate the company’s sale. Notwithstanding their estimate of the middle of 2023, they were able to negotiate a contract before the beginning of April.
Officially, Endeavor has confirmed that they have acquired WWE. The formal press announcement detailing the sale detailed the exact percentage of the company that Endeavor will acquire.
World Wrestling Entertainment, Inc. (NYSE: WWE) (“WWE”) said today that it has signed a formal agreement to form a new, publicly traded business comprised of two iconic, complementary, global sports and entertainment brands: UFC and WWE. Upon closing, Endeavor will hold a controlling 51% stake in the new company, while existing WWE owners will hold a 49% stake.
Together, UFC and WWE will have a worldwide footprint, an astounding scale, and omnichannel distribution. UFC and WWE collectively generated $2.4 billion in sales at the end of the 2022 fiscal year and a 10% yearly revenue growth rate since 2019.
The CEO of Endeavor, Ariel Emanuel, discussed the sale. He stated that this is a wonderful opportunity for them to establish themselves in the market by utilising the organisation that Vince McMahon made famous.
“This is a once-in-a-lifetime opportunity to develop a worldwide live sports and entertainment pureplay tailored to the future of the business. Vince and his team have a remarkable track record of innovation and shareholder value generation, and we are sure that by combining UFC and WWE together, Endeavor will provide significant additional shareholder value.”
This new firm will be led by Ariel Emanuel, while Vince McMahon will continue to serve as Executive Chairman of the Board and Mark Shapiro will serve as President and Chief Operating Officer for both Endeavor and the new company.
Nick Khan will serve as President of WWE, while Dana White will continue to serve as President of UFC. Eleven members of the Board of Directors of the corporation will be named at a later date.
What are your thoughts on this enormous sale? Will it completely alter WWE as we know it? Comment in the box below!
