Kemo
04-04-2023, 07:42 PM
https://i.imgur.com/S5r9Ov8.jpg
Endeavor President Mark Shapiro has opened up on the acquisition of WWE, merging WWE and UFC into a new company, and how that will be handled.
The acquisition was made official on Monday, with the transaction expected to be finalized later this year.
Shapiro will serve as the President of the new company as well. He spoke with Sports Business Journal about the deal.
Strategy
SBJ’s John Ourand noted that he was told that the company plans to do what it did with the UFC in 2016 when it acquired the MMA promotion.
“We’re going to run the UFC playbook,” Shapiro said. “The opportunity to put Vince McMahon’s creative head with Dana and Ari is going to create a significant amount of value for shareholders.”
Shapiro brought up that 80% of WWE’s net revenues come from media, and he believes the company will be able to row WWE’s sponsorship, licensing, hospitality, and ticketing businesses.
He thinks WWE will be able to develop stars through non-scripted shows, films, and commercial endorsements.
“That’s the strategy,” Shapiro said. “That’s how it has successfully played out for the UFC over the last six years. Remember when we bought it for $4.1 billion? People thought that price was crazy. Now, it is valued at $12.1 billion. I mean, what a story. We hope to do the same thing with the WWE.”
The official name of the merged company isn’t yet known. For now, Endeavor refers to it as NewCo, which is simply an abbreviation for a new company.
Endeavor President Mark Shapiro has opened up on the acquisition of WWE, merging WWE and UFC into a new company, and how that will be handled.
The acquisition was made official on Monday, with the transaction expected to be finalized later this year.
Shapiro will serve as the President of the new company as well. He spoke with Sports Business Journal about the deal.
Strategy
SBJ’s John Ourand noted that he was told that the company plans to do what it did with the UFC in 2016 when it acquired the MMA promotion.
“We’re going to run the UFC playbook,” Shapiro said. “The opportunity to put Vince McMahon’s creative head with Dana and Ari is going to create a significant amount of value for shareholders.”
Shapiro brought up that 80% of WWE’s net revenues come from media, and he believes the company will be able to row WWE’s sponsorship, licensing, hospitality, and ticketing businesses.
He thinks WWE will be able to develop stars through non-scripted shows, films, and commercial endorsements.
“That’s the strategy,” Shapiro said. “That’s how it has successfully played out for the UFC over the last six years. Remember when we bought it for $4.1 billion? People thought that price was crazy. Now, it is valued at $12.1 billion. I mean, what a story. We hope to do the same thing with the WWE.”
The official name of the merged company isn’t yet known. For now, Endeavor refers to it as NewCo, which is simply an abbreviation for a new company.