The company that owns the Ultimate Fighting Championship (UFC), Endeavor Group, will buy a majority controlling stake in World Wrestling Entertainment (WWE), know the net worth of both the companies in 2023
The two entertainment companies will join together to make a new company that will be traded on the stock market. It will be called “TKO” and have a board of 11 people, six of whom will be chosen by Endeavor and five by WWE. Ari Emanuel, who is the CEO of Endeavor, will run the new business.
Vince McMahon, the founder of WWE and the company’s largest shareholder, came back to the company in January and said that it might be for sale. There were lots of rumours about who might want to buy WWE. Endeavor, Disney, Fox, Comcast, Amazon, and Saudi Arabia’s Public Investment Fund were all named as possible buyers.
What is the net worth of WWE and UFC in 2023 as Endeavor Group completes acquisition
WWE has been sold to the Endeavor Group
Endeavor now forms a new $21+B global live sports and entertainment company consisting of the UFC and WWE pic.twitter.com/AGrFFWIbqy
— Bleacher Report (@BleacherReport) April 3, 2023
In 2016, Endeavor bought the UFC in a deal worth $4.2 billion. When the company went public in 2021, it bought the rest of it. With more than 20 acquisitions, Emanuel has turned Endeavor, which used to represent people in movies and TV, into a sports and entertainment powerhouse. He has put money into bull riding events, fashion shows, and tennis tournaments in Miami and Madrid.
Endeavor’s acquisition of WWE brings the company into a new era
The deal between Endeavor and WWE brings WWE into a new era. For decades, WWE was a business run by a family. In 1982, McMahon bought Capitol Wrestling from his father. With the help of wrestling stars like Andre the Giant, Hulk Hogan, and Dwayne “The Rock” Johnson, he grew the business to a national level. In 1985, the first WrestleMania was held by the company, which then went by the name World Wrestling Federation. And then latter as World Wrestling Entertainment.
WWE has been known for decades for big, expensive events like WrestleMania. Which bring in fans from all over the world. McMahon talked about the idea that some WWE fans and experts didn’t think he would ever make a deal for the company. “It’s the right time to do the right thing. And it’s the next evolution of WWE,” he said.
New Endeavor-WWE company aims to maximize media rights
The new company wants to get the most money out. All this through combined media rights, make more money from sponsorships, create new types of content, and look for other strategic mergers and acquisitions to make their brands even stronger. The WWE’s media rights deals with USA and Fox are about to start being talked about.
Vince McMahon bought the WWE from his father for $1 Million in 1982
Today he signed a merger deal with UFC parent company Endeavor Group $EDR that values the $WWE at $9.3 Billion pic.twitter.com/AwCpuQvTRw
— Savvy Trader (@SavvyTrader) April 3, 2023
Five of the top 15 most followed female athletes in the world on Facebook, Twitter, and Instagram are WWE wrestlers. Ronda Rousey, who has 36.1 million followers, has the most followers of any female athlete in the world. In January and February of this year, the company’s digital and social media had more than 7.5 billion views. Which is 15% more than the same time last year.
Endeavor to own majority stake in new WWE-UFC
In a note to clients, Jeffries analyst Randal Konik said, “We like the assets of UFC and WWE in a world where linear TV is losing market share to streaming and live sports content is in high demand.”
Endeavor Group Holdings Inc. will own 51% of the new company, which hasn’t been named yet. WWE shareholders will own 40% of the company. The company thinks the UFC is worth $12.1 billion and the WWE is worth $9.3 billion.
Vince McMahon, who is the executive chairman of WWE, will keep his job at the new company. McMahon said in a prepared statement on Monday, “Together, we will be a $21 billion-plus live sports and entertainment powerhouse with more than a billion fans and a great chance to grow.”
Stephanie McMahon, who was chairwoman of the company when her father left, quit a week after he went back to work in January. Her husband, Paul Levesque, who worked in
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