World Wrestling Entertainment has been sold to the Endeavor Group, it has been confirmed.
In a press release issued by the group and WWE, the organisations have signed a definitive agreement to form a new, publicly listed company that will be formed of not only WWE but another of Endeavor’s global entertainment brands, the Ultimate Fight Championships. The new company will be valued at over $21B, with UFC worth a total of $12.1B and WWE valued at $9.3B. Upon close, Endeavor will hold a 51% controlling interest in the new company and existing WWE shareholders will hold a 49% interest in the new company.
The deal marks the end of WWE being a family-owned business, with Vince McMahon purchasing the company from his father in the early 1980’s and transforming the company into the global entertainment behemoth we know today. McMahon is expected to remain as Executive Chairmain of the new company. Ari Emanuel will serve as CEO while Dana White will stay as president of UFC and WWE CEO Nick Khan will become President of WWE.
A name for the newly combined company has not yet been announced however in an interview with CNBC both McMahon and Emanuel said the name would be revealed ‘very soon’.
The deal is to officially close in the second half of 2023.