World Wrestling Entertainment Inc will combine with Endeavor Group-owned mixed martial arts franchise UFC to form a new, publicly listed entertainment giant valued at about $21 billion, the companies said on Monday.
mixed martial arts franchise UFC to form a new, publicly listed entertainment giant valued at about $21 billion, the companies said on Monday.
Emmanuel said he would capitalize on Endeavor's expertise in securing media deals, sponsorships and new forms of distribution to fuel growth at the new company, which he will lead as chief executive officer while continuing in his role at Endeavor. Endeavor said it would run the same playbook it employed with the UFC, the world’s largest martial-arts organization, improving operating efficiency, negotiating lucrative media deals and striking licensing deals. The UFC has seen its revenue grow by more than one and a half times and its adjusted EBTIDA double since 2017, a year after Endeavor took a controlling interest in the company. Endeavor bought out the remaining shareholders in 2021.The Endeavor Group Holdings Inc.
Shares of WWE fell 6% in early trading, while Endeavor was up 0.3%. One analyst said WWE investors may have been disappointed that this was not a cash transaction.
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