Endeavor, WWE merger expected to close Sept 12
September 7, 2023
By Nik Roseveare
Endeavor Group Holdings and World Wrestling Entertainment (WWE) have announced that they expect to close the previously announced transaction to form TKO Group Holdings on September 12th, at which time TKO will begin trading on the New York Stock Exchange under the ticker symbol TKO.
Endeavor Group – which already owns UFC – and WWE announced in April that the companies would be forming a new publicly listed company.
Upon closing, Endeavor will hold a 51 per cent controlling interest in the new company, at a cost of $9.3 billion (€8.7bn). Existing WWE shareholders will hold 49 per cent.
“This is a rare opportunity to create a global live sports and entertainment pureplay built for where the industry is headed,” commented Ariel Emanuel, CEO of Endeavor, back in April. “For decades, Vince [McMahon] 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.”