UFC owner buys WWE to create sports entertainment giant
The Ultimate Fighting Championship (UFC) and World Wrestling Entertainment (WWE) are set to become a joint venture, according to an agreement announced by UFC owner Endeavor Group Holdings Inc on Monday.
The new publicly traded company will combine the two popular fight entertainment brands with a combined value of over $21 billion (€19.3 billion). WWE alone is valued at $9.3 billion.
Endeavor will own 51% of the new company, with WWE shareholders holding the remaining 49%.
“This is a rare opportunity to create a pure global live sports and entertainment game built for where the industry is heading,” said Ariel Emanuel, CEO of Endeavor, in a company statement.
More value for shareholders
Vince McMahon, the founder of WWE, will retain his role as Executive Chairman. He only got back to the company in January, saying it was for sale.
There were already rumors that such a move was in the works, with Endeavor, Disney, Fox, Comcast, Amazon and Saudi Arabian Public Investment Fund seen as the most likely buyers.
While the UFC and WWE brands broadcast fights for entertainment, the former focuses on mixed martial arts, while the latter is known as a wrestling performance along with soap opera-like storylines – albeit still with a high risk of injury for the performers.
Source: DW
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