MMA Community Reacts to UFC & WWE merger rumours
The World Wrestling Entertainment (WWE) is reportedly in advanced talks with the Endeavor Group — the parent company of Ultimate Fighting Championship (UFC) — regarding its ownership, according to CNBC’s Alex Sherman.
Per sources, a possible agreement might result in a new publicly traded company that merges the UFC and WWE. As part of this deal, Endeavor Group would acquire a controlling 51 percent stake in WWE, and Ari Emanuel, the current Endeavor CEO, would continue to lead Endeavor and the merged company.
Wrestle Ops
2023-04-02 20:39
WWE is in advanced talks to be sold to Ari Emanuel’s Endeavor Group, the parent of UFC. The deal would combine UFC and WWE into one publicly traded company. A deal could be announced as soon as Monday Vince McMahon is expected to be executive chairman, while Endeavor President… https://t.co/CC6HT1M3NC https://t.co/FmEAGglASr
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WWE shareholders would keep 49 percent ownership of the company, and Vince McMahon, the founder, is expected to become the “executive chairman.”
Sherman reported that WWE is currently worth more than $6.79 billion, but the deal with Endeavor would increase its enterprise value to $9.3 billion. He added that with this upcoming merger, WWE hopes to reach its new high after generating $1.29 billion in revenue last year.
If WWE becomes part of Endeavor, McMahon and UFC President Dana White will have more opportunities to collaborate. They have previously worked together to handle the professional fighting career of American-Canadian wrestler Brock Lesnar.
Fiending For Followers ‼️
2023-04-02 21:24
WWE x UFC gonna have a ring like this. https://t.co/gpwRGe4Fxa
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WWE’s recent shakeup in leadership
Last July, McMahon retired as the WWE Chairman after reports emerged that he had paid millions in hush money to settle accusations of alleged sexual misconduct.
However, in January this year, the 77-year-old returned to his position as executive chairman to oversee the company’s sale process and media rights deals.
Following his return to the company, several board members were let go, and his daughter Stephanie McMahon stepped down as co-CEO.
Should the deal be completed, Emanuel would become the first non-McMahon owner of the company since its inception in 1953.
This weekend, WWE is hosting its largest event of the year — WrestleMania — which will be held in California.
iBeast
2023-04-02 20:48
WWE and UFC under one parent company https://t.co/vWJtGwiWX6
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