Endeavor Group Holdings Inc , the parent of the popular UFC mixed martial arts franchise, is in advanced talks to acquire World Wrestling Entertainment Inc (WWE) in an all-stock deal, according to people familiar with the matter.
The sources requested anonymity because the matter is confidential. Endeavor and WWE did not immediately respond to requests for comment on Sunday.
WWE shares, which have risen more than 30% this year, closed at $91.26 on Friday, giving the company a market capitalization of $6.8 billion. Endeavor has a market value of $11.3 billion. Emanuel has worked to transform Endeavor into a sports and entertainment powerhouse, making more than 20 acquisitions. His investments – in bull riding events, fashion shows and the Miami Open and Madrid Open tennis competitions – sought to diversify the company, which grew from a legacy rooted in representing film and television talent.
In regulatory filings, Endeavor argues that it benefits from the rising value of owning a scarce – but popular – asset like sports.
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