WWE and the company that runsThe firm will be worth a sensational $21.4billion will combine to create a $21.4 billion sports entertainment company.
Vince McMahon, executive chairman at WWE, will remain in his role at the new company, which will mark a merger between WWE and the company that runs UFC, Endeavor Group Holdings. In a statement, McMahon said: ‘Given the incredible work that Ari [Ariel Emanuel, CEO of Endeavor] and Endeavor have done to grow the UFC brand – nearly doubling its revenue over the past seven years – and the immense success we’ve already had in partnering with their team on a number of ventures, I believe that this is without a doubt the best outcome for our shareholders and other stakeholders.’
Emanuel added: ‘This is a rare opportunity to create a global live sports and entertainment pureplay built for where the industry is headed,. ‘For decades, Vince and his team have demonstrated an incredible track record of innovation and shareholder value creation, and we are confident that Endeavor can deliver significant additional value for shareholders by bringing UFC and WWE together.’
Source: News Formal (newsformal.com)
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