Zuffa, the parent company of UFC, sold Endeavour (then known as WME-IMG) a controlling share in 2016. Now Dana White has been promoted to be UFC’s CEO from the president.
Endeavour started its IPO in 2021 in order to become a publicly traded business. It completed the purchase of Zuffa with some of the funds it received from its IPO, integrating them as a wholly owned subsidiary in March 2021.
Vince McMahon, the longtime CEO of WWE at the time, resigned in June 2022 following accusations that he had paid hush money to a former worker after having an affair. In addition to Nick Khan, his daughter Stephanie McMahon also serves as executive chairperson and co-CEO of WWE.
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Dana White promoted to UFC CEO
In January of this year, seven months later, Vince made a comeback as the executive chairman of WWE to help oversee efforts to sell the professional wrestling entertainment business. Khan was appointed as the company’s sole CEO after Stephanie resigned as chairwoman.
WWE and Endeavour reached an agreement on April 3 under which WWE would merge with Zuffa to become TKO Group Holdings, which would then trade on the NYSE under the ticker code “TKO.” Ari Emanuel, the CEO of Endeavour, would also take the helm of TKO Group Holdings, which would continue to be a division of the former business.
Dana White, a former UFC president, will now lead the organization as CEO under TKO.
Similar to White’s previous position as president of the UFC, Khan will lead WWE.
On Tuesday, September 12, the merger was formally completed, and TKO Group Holdings commenced trading on the NYSE.
The company is now officially known as TKO Group Holdings, and the stock ticker TKO smartly alludes to the phrase “technical knockout” that is frequently used in combat sports. In this arrangement, existing WWE shareholders hold a 49 percent stake in the newly formed firm, while Endeavour holds a controlling 51 percent stake.
The merger also marks the end of a seventy-year period during which the McMahon family served as WWE’s top executives. In July 2022, Vince McMahon resigned from his position because to suspicions of receiving hush money. Khan and his daughter Stephanie assumed the positions of co-CEOs after he left.
