The largest transaction in the history of sports entertainment behemoth WWE has been finalized. Dana White will serve as the UFC’s CEO, and WWE CEO Nick Khan would assume the role of president of WWE.
The sports entertainment juggernaut WWE and the mixed martial arts organization UFC of Endeavour Group Holdings are now officially a tag team, completing a mega-combination that was first announced in early April.
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The agreement submitted to the SEC states that McMahon will hold the position of Executive Chair of TKO “until his death, resignation, or incapacity.” He can choose five of the company’s 11 directors with that role, and he also has some veto power.
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.
Fans commented on this on X, saying, “Who was CEO before that then? This shit hella confusin.”
While others commented:
The new business will have a 51% controlling interest owned by Endeavour. On a fully diluted basis, WWE shareholders will own the remaining 49%.
According to the new company’s SEC registration, McMahon personally owns 34% of it.
Since Vince McMahon’s father created the WWE in 1953, the McMahon family has held a majority position in the company. With the completion of the merger, that situation has changed.
TKO is currently valued at $102 per share on the NYSE.
Endeavour has stated that the merger resulting in TKO will secure $50 million to $100 million in annual operating synergies; however, some analysts have argued that estimate may be conservative (Shapiro notes the potential for production synergies like satellite trucks and camera equipment; we think there’s potentially more once we get into real due diligence). The strategy is to emulate the UFC acquisition, which produced $70 million in cost synergies within two years of Endeavor’s ownership and set the standard for acquisition success. As a result, it is anticipated that WWE will be incorporated into the worldwide infrastructure of Endeavour.
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