WWE has a new owner. Endeavor Group Holdings Inc., the group that runs Ultimate Fighting Championship (UFC), has acquired the organization at a valuation of $9.3 billion. This is a huge collaboration of two of the biggest names in sports entertainment. Combined, the company is valued at $21.4 billion.
Endeavor will take a 51% controlling interest in the new company. Existing WWE shareholders will hold a 49% stake. According to NPR, the controversial executive chairman of WWE, Vince McMahon, will continue to serve in the same role at the new company. Dana White will continue as president of UFC, and Nick Khan will become president at WWE. McMahon says he’s excited about the opportunity for growth. Some of the new focuses of the business will be to maximize the value of combined media rights, enhance sponsorship, develop new content, and more.
“Together, we will be a $21+ billion live sports and entertainment powerhouse with a collective fanbase of more than a billion people and an exciting growth opportunity,” the 77-year-old said in a statement.
This shouldn’t be a challenging task for the organization as they already have heavy-hitter wrestlers like Bobby Lashley, Naomi, and The New Day, under its belt. – Steve Sijenyi