Endeavor’s UFC and WWE have officially merged to form a new company called TKO Group. The aim of the merger is that the two organizations will be able to unify their audiences to expand their influence even more.
Together, UFC and WWE collectively boast over 1 billion fans worldwide throughout 180 countries, according to Endeavor. They also produce upwards of 350 live events annually.
Starting today, September 12, TKO Group is traded on the New York Stock Exchange. UFC holds a 51% controlling interest in TKO, while WWE holds 49%. The company is estimated to have an enterprise value of $21 billion USD.
Former WWE CEO Vince McMahon will serve as executive chairman of TKO Group. McMahon was previously the controlling shareholder of WWE and ultimately stepped down from his position as CEO last year following allegations of hush money payments given to cover up sexual misconduct.
Endeavor CEO Ariel Emanuel will oversee the new company as the CEO of TKO. Mark Shapiro will be president and COO of TKO, while continuing in those same roles at Endeavor. UFC’s chief financial officer Andrew Schleimer will also stay on as CFO of TKO.
Dana White is the president of UFC and Nick Khan has stayed on as president of WWE.
“The creation of TKO marks an exciting new chapter for UFC and WWE as leaders in global sports and entertainment,” Emanuel said in a statement. “Given their continued connectivity to the Endeavor network, we are confident in our ability to accelerate their respective growth and unlock long-term sustainable value for shareholders.”
“With UFC and WWE under one roof, we will provide unrivaled experiences for more than a billion passionate fans worldwide.”
In other sports news, Paul Pogba received a provisional suspension for an anti-doping offense.
