The sale of WWE is complete, and it will change hands after WrestleMania 39, confirming the veracity of the reports. Now Endeavor Group Holdings has confirmed that they got promoted By buying the majority of the company’s shares, McMahon will no longer have complete control over the World Wrestling Entertainment company.
in a declaration Following the news of the sale of WWE through a “definitive agreement,” in which WWE would take ownership of the company in a deal worth an estimated $9.3 billion, Endeavor made an appearance on Raw at WrestleMania 39. The transaction creates Endeavor, a new publicly traded company that is the owner of WWE and UFC, two significant sports entertainment brands.
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Following the acquisition of WWE, Endeavor will control 51% of the new firm when it launches its alliance with the UFC, while current WWE owners will own 49% of it. The transaction gives them with a unique chance in the entertainment sector, which they should appreciate more, according to Endeavor CEO Ari Emanuel.
“This is a unique chance to build a global PurePlay leading the market in live sports and entertainment. We think that by combining the UFC and WWE, That Endeavor can significantly increase shareholder value and build on the tremendous track record of innovation and value creation that Vince and his team have established over the years.
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According to Vince McMahon, executive chairman of WWE, this WWE sales agreement will unquestionably result in the finest outcomes for investors. They also anticipate creating more diversified and international content in the future.
With a combined fan base of more than a billion people and a tremendous growth opportunity, we will be a $21+ billion live sports and entertainment powerhouse. The new business will be in a good position to use our powerful brands even more to increase the value of our combined media rights, improve sponsorship monetization, create new kinds of content, and seek other tactical mergers and acquisitions.
I am looking forward to working closely with Arie and the Endeavor and UFC teams to advance the company, along with the current WWE management group.
With the sale of WWE, Emanuel (as CEO) of the entire WWE-UFC brand will lead the new PLC, with McMahon continuing in his role as Executive Chairman of the Board. While Nick Khan will continue to lead the WWE, Dana White will remain the UFC’s president.
Both Endeavor and the new firm have named Mark Shapiro as president and chief operating officer. Eleven people will make up the board of directors, six of whom will be chosen by Endeavor while the remaining five can be chosen by WWE. Following the entire completion of the WWE sale process, a complete list of board members will be released.