UFC-WWE Merger News: Vince McMahon took a short break from WWE but returned to make a big announcement: Endeavor will merge UFC and WWE to form a new publicly traded company. This decision was made after discussions with several potential partners. CNBC recently reported that The new company, called TKO Group Holdings, plans to list on the stock market by the end of 2023. Follow the latest WWE News Updates with InsideSport.IN
UFC-WWE Merger: Newly Merged Company Name Revealed
Following the original disclosure of intentions for the merged firm back in April, Endeavour, the current parent company of the UFC, announced CNBC on Tuesday. TKO will be the company’s New York Stock Exchange trading symbol.
The new business is expected to receive over $21 billion in investments. This decision was made after Endeavour, who previously acquired UFC in 2016, obtained a controlling interest in World Wrestling Entertainment. Ari Emanuel, CEO of Endeavour, will now lead TKO Group Holdings as CEO, while Vince McMahon, the principal owner of WWE, will serve as executive chairman.
The company’s board of directors will comprise 11 members, with six from Endeavour and five from WWE. Notable individuals on the board include Vince McMahon and Ari Emanuel.
When will the merger be complete?
The recent Securities and Exchange Commission filing reveals that the business currently goes by “New Whale Inc,” but this name is expected to change after the merger. This file provides insight into the ongoing process of establishing the new entity officially.
The merger between Endeavour and WWE is set to be completed and formally recognized by the end of 2023. This significant project combines the resources and expertise of both organizations into a single entity, which will undoubtedly impact the future of the sports entertainment industry.
Follow InsideSport on GOOGLE NEWS for recent WWE Updates
