WWE, UFC complete merger to form TKO Group Holdings
WWE), the world's biggest sports entertainment company and the top mixed martial arts promotion (UFC) completed their merger to form a new entity named TKO Group Holdings.
WWE announced the merger through their website. Endeavor Group Holdings owns the UFC.
«Endeavor Group Holdings, Inc.
(NYSE: EDR) (»Endeavor") and World Wrestling Entertainment, Inc. (previously NYSE: WWE) («WWE») today announced the close of their previously announced agreement and the launch of TKO Group Holdings, Inc.
(NYSE: TKO) («TKO»)," said a statement by WWE.
TKO brings together UFC, the world's premier mixed martial arts organization, and WWE, an integrated media organization and the recognized global leader in sports entertainment, to create a new premium sports and entertainment company serving more than one billion young and diverse fans, reaching viewers in 180 countries, and producing more than 350 annual live events.
«The creation of TKO marks an exciting new chapter for UFC and WWE as leaders in global sports and entertainment,» said Ariel Emanuel, CEO of Endeavor and TKO.
«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 unrivaled experiences for more than a billion passionate fans worldwide,» he added.
«This is the culmination of a decades-long partnership between Endeavor and WWE across strategic initiatives including talent representation and media rights.
