WWE Confirms Merger With UFC Parent Endeavor

deadline.com:

WWE and UFC parent Endeavor Group Holdings made things official in an SEC filing Monday morning, confirming their blockbuster merger into a combat sports colossus.

Word surfaced on Sunday of the combination, capping a months-long effort by WWE to explore a deal. The wrestling circuit has proven to be one of the most reliable ratings draws in an era of fragmentation, and is now going to be under the same roof as mixed martial arts outfit UFC, a potent draw among young male fans.

In the filing, the companies said a new public entity will be run by Ari Emanuel, who is already Endeavor CEO. The new company will be a subsidiary of Endeavor, with 51% of it controlled by Endeavor and the other 49% controlled by WWE.

Vince McMahon will be executive chair of the board. “This is a rare opportunity to create a global live sports and entertainment pureplay built for where the industry is headed,” Emanuel said. “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.” The new company is valued at $21 billion. “Given the incredible work that Ari 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,” McMahon said.