UFC and WWE combine to form $21.4B sports entertainment company

Endeavor Group Holdings Inc. and World Wrestling Entertainment (WWE) are set to combine to create a publicly traded sports entertainment company worth $21.4 billion. Endeavor will take a 51% controlling interest in the new company while existing WWE shareholders will hold a 49% stake. The new business, which does not yet have a name, will be led by Endeavor CEO Ari Emanuel, with Vince McMahon, executive chairman at WWE, serving in the same role. The deal brings together UFC and WWE brands, creating a collective fan base of over one billion people. The transaction is expected to close in the second half of 2023, subject to regulatory approval.