The sale of WWE to Endeavor (parent company of UFC) was announced at a valuation of $9.3 Billion.
UFC and WWE will form a $21+ Billion global live sports & entertainment company.
The new Publicly Listed Company will be 51% owned by Endeavor and 49% by existing WWE shareholders.
Together, UFC and WWE expect to deliver an estimated $50 million to $100 million in annualized run rate cost synergies by leveraging, among other things, Endeavor’s back office and robust infrastructure.
Endeavor also expects significant growth across revenue areas including domestic and international media rights, ticket sales and yield optimization, event operations, sponsorship, licensing and premium hospitality.
According to CNBC, WWE & UFC’s new merged company name is going to be “TKO Group Holdings”.
The merged company is currently operating under the name “New Whale Inc”, according to a recent SEC filing. The new name will be officially used once the merger is finalized later this year.
Endeavor CEO Ari Emanuel will also be the CEO of TKO Group Holdings, while Vince McMahon will serve as the Executive Chairman.
There will be 11 Board members, 6 from Endeavor and 5 from WWE. Both Ari & Vince are on the Board of Directors.
According to the Wrestling Observer, once this merger is finalized later this year, WWE will explore major changes to RAW:
“We were told the merger not being finalized is holding up major changes happening, but there is talk of at least exploring major changes for RAW with new ideas when the merger takes place.”
WATCH: Alexa Bliss Exposed With A Wedgie On LIVE TV: