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Warner Bros. Entertainment Inc. (commonly known as Warner Bros. and abbreviated as WB), is an American diversified multinational mass media and entertainment conglomerate headquartered at the Warner Bros. Studios complex in Burbank, California, and a division of AT&T's WarnerMedia. Founded in 1923 by brothers Harry, Albert, Sam, and Jack Warner, the company established itself as a leader in the American film industry before diversifying into animation, television, and video games, and is one of the "Big Five" major American film studios, as well as a member of the Motion Picture Association (MPA).
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WWE and UFC to merge into $21.4 billion company

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World Wrestling Entertainment (WWE) and the Ultimate Fighting Championship (UFC) will merge into one company as part of a sale to Endeavor Group Holdings.

The new operation will be valued at $21.4 billion thanks to the UFC's $12.1 billion valuation and WWE's $9.3 billion. WWE Executive Chairman Vince McMahon will join the new "global live sports and entertainment company" in the same role.

Endeavor will have a controlling interest of 51% in the new company with existing WWE shareholders securing the remaining 49%. "Together, we will be a $21-plus billion live sports and entertainment powerhouse with a collective fanbase of more than a billion people and an exciting growth opportunity," McMahon said in a statement.

Earlier this year, reports emerged of a potential sale of WWE with Saudi Arabia's Public Investment Fund rumored as the lead contender (this was later denied).

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