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The Ultimate Fighting Championship’s (UFC) parent company, Endeavor, is purchasing World Wrestling Entertainment (WWE). CNBC reports that the WWE, owned by Vince McMahon, is in advanced talks to be sold to Ari Emanuel’s company Endeavor Group. The deal could be announced as soon as Monday. This deal would combine the UFC and the WWE into one publicly traded company. It would also entail Endeavor owning 51% of the new combat sports and entertainment company, with the remaining 49% owned by WWE shareholders. The anonymous sources say that this deal with Endeavor gives the WWE an enterprise value of $9.3 billion. Emanuel is expected to act as chief officer of Endeavor and the new company, with McMahon serving as executive chairman. Endeavor President Mark Shapiro will serve in the same role in the new company.
Endeavor Deal Ends WWE’s Status as Family-Run Business
For decades, the WWE has been a family-run company. McMahon’s father founded the WWE in 1953. McMahon bought the company from his father in 1982 and grew it into the phenomenon that we know today. This phenomenon has spawned stars like Dwayne “The Rock” Johnson, Dave Bautista, John Cena, and Alexa Bliss.
Last year, McMahon retired from the WWE amid revelations of millions of dollars in hush money paid to women who McMahon had affairs with. McMahon’s daughter Stephanie took over as CEO. However, it was announced in January that McMahon was unanimously elected as Executive Chairman of the Board. His daughter resigned, and Nick Kahn took on the role of CEO.
WWE Sale to UFC Parent Company Ends Months of Searching for Buyer
The WWE has been seeking a buyer for several months, with Khan making media rounds to discuss the sale. Endeavor has had great profit from the UFC, which earned them $1.3 billion in revenue last year. The WWE earned $1.29 billion last year. The Endeavor-WWE deal gives the UFC a value of more than $12 billion.