On September 12, Tuesday, Endeavor and WWE made an announcement that they have officially closed out their agreement to form TKO Group Holdings while merging the wrestling entertainment company with UFC, the MMA leader worldwide. The shares for TKO Group Holdings will be traded for the first time today on the New York Stock Exchange (NYSE), under the ticker symbol “TKO,” while the WWE shares will cease trading after Monday, when their price closed at $100.65/share.
Endeavor will be “holding a 51% controlling interest in the new company and existing WWE shareholders holding a 49% interest in the new company, on a fully diluted basis.” TKO Group Holdings boasts over one billion fans worldwide, while producing more than 350 annual live events, reaching viewers in 180 countries.
The new website of TKO Group Holdings is at tkogrp (dot) com, where they are calling themselves “a premium sports and entertainment company that comprises UFC, the world’s premier mixed martial arts organization, and WWE, an integrated media organization and the recognized global leader in sports entertainment.”
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Ariel Emanuel, the CEO OF Endeavor and TKO said in a statement, “The creation of TKO marks an exciting new chapter for UFC and WWE as leaders in global sports and entertainment. Given their continued connectivity to the Endeavor network, we are confident in our ability to accelerate their respective growth and unlock long-term sustainable value for shareholders. With UFC and WWE under one roof, we will provide unrivalled experiences for more than a billion passionate fans worldwide.”
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The statement from the executive chairman of TKO, Vince McMahon read, “This is the culmination of a decades-long partnership between Endeavor and WWE across strategic initiatives including talent representation and media rights. Given our collaborative, trusted relationship and Endeavor’s incredible track record of success growing UFC, we believe WWE is optimally positioned for future growth and success as part of TKO. Our focus remains on delivering for our fans across the globe as we take the business to the next level alongside UFC and Endeavor.”
