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Endeavor Group Holdings, Inc. and World Wrestling Entertainment, Inc. have announced the completion of their previously disclosed agreement and the establishment of TKO Group Holdings, Inc., as per a Business Wire report.
TKO brings together UFC, the world's premier mixed martial arts organization, and WWE, an integrated media organization and the globally recognized leader in sports entertainment. I Photo: New York Stock Exchange Facebook
TKO brings together UFC, the world's premier mixed martial arts organization, and WWE, an integrated media organization and the globally recognized leader in sports entertainment, to form a new premium sports and entertainment company that serves over one billion young and diverse fans.
It reaches viewers in 180 countries and produces more than 350 annual live events.
Through this merger, TKO will leverage Endeavor's expertise in various areas, including domestic and international media rights, ticket sales and yield optimization, event operations, global partnerships, licensing, and premium hospitality, to drive revenue growth.
Ariel Emanuel, CEO of Endeavor and TKO, commented, "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 unrivaled experiences for more than a billion passionate fans worldwide."
Vince McMahon, Executive Chairman of TKO, added, "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 in 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."
TKO commenced trading today on the New York Stock Exchange under the ticker symbol "TKO." Endeavor holds a 51% controlling interest in the new company, with existing WWE shareholders holding a 49% interest in the new company, on a fully diluted basis.
