UFC, the mixed martial arts powerhouse, has officially tied the knot with Vince McMahon’s professional wresting juggernaut WWE, creating a new company called TKO Group that starts trading on the New York Stock Exchange today.
Execs from both sides will be ringing the NYSE opening bell to celebrate “a new premium sports and entertainment company serving more than one billion young and diverse fans, reaching viewers in 180 countries, and producing more than 350 annual live events,” according to UFC parent Endeavor, which is banking on new content, international expansion and an easy-to-understand investment thesis for Wall Street.
Endeavor will own 51% of TKO (technical knockout, in wrestling parlance), with WWE shareholders holding 49%. As reported, Endeavor CEO Ari Emanuel is TKO’s chief executive and McMahon, who has been the face of WWE for decades, its executive chairman.
Endeavor president and COO Mark Shapiro has the same role at TKO. Dana White remains CEO of UFC, Lawrence Epstein COO. Nick Khan is president of WWE (Raw, SmackDown).
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