ALBAWABA - Endeavor Group Holdings Inc has completed the purchase of WWE (World Wrestling Entertainment).
Endeavor is the parent company of the UFC (Ultimate Fighting Championship), an American mixed martial arts promotion company.
An official statement was released on Monday confirming the deal.
“Endeavor and WWE today announced that they have signed a definitive agreement to form a new, publicly listed company consisting of two iconic, complementary, global sports and entertainment brands: UFC and WWE.” The statement read.
“Upon close, Endeavor will hold a 51 percent controlling interest in the new company and existing WWE shareholders will hold a 49 percent interest in the new company.
“Together, UFC and WWE will have global reach, impressive scale and omnichannel distribution. On a combined 2022 fiscal year-end basis, UFC and WWE achieved revenue of $2.4billion and a 10 percent annual revenue growth rate since 2019.”
Meanwhile, Vince McMahon, WWE’s executive chairman, said: “Together, we will be a $21bn+ live sports and entertainment powerhouse with a collective fanbase of more than a billion people and an exciting growth opportunity.”
