Kemo
05-18-2023, 12:21 AM
The new company created by Endeavor which will house both WWE and UFC will operate under the name TKO Group Holdings.
It was less than three months ago that news broke of WWE's acquisition by Endeavor, which will see Vince McMahon remain in charge of the promotion. The wrestling promotion will be acquired for the sum of $9.3 billion and merged with UFC, which has a value of $12 billion. Endeavor will hold a majority stake in WWE once the deal is finalized at 51% while WWE shareholders will retain the remaining 49%. The deal is expected to be finalized later this year.
TKO Group Holdings
CNBC broke the news that the new company will be called TKO Group Holdings, but this name shouldn't come as a surprise. Not long after the acquisition was announced last month, it was reported that the new company would be operating as 'TKO' on the Stock Exchange. Recently, WWE and Endeavor were working under the name New Whale Inc, though that was always expected to be changed.
Ari Emanuel, the CEO of Endeavor, is set to assume the role of CEO for TKO Group. Vince McMahon, the controlling shareholder of WWE, will take on the position of executive chairman within the newly formed company. TKO Group Holdings will feature 11 board members of the company's directors. five will come from WWE's side, while six will be appointed by Endeavor. Both McMahon and Emanuel will be on that board of directors.
It was less than three months ago that news broke of WWE's acquisition by Endeavor, which will see Vince McMahon remain in charge of the promotion. The wrestling promotion will be acquired for the sum of $9.3 billion and merged with UFC, which has a value of $12 billion. Endeavor will hold a majority stake in WWE once the deal is finalized at 51% while WWE shareholders will retain the remaining 49%. The deal is expected to be finalized later this year.
TKO Group Holdings
CNBC broke the news that the new company will be called TKO Group Holdings, but this name shouldn't come as a surprise. Not long after the acquisition was announced last month, it was reported that the new company would be operating as 'TKO' on the Stock Exchange. Recently, WWE and Endeavor were working under the name New Whale Inc, though that was always expected to be changed.
Ari Emanuel, the CEO of Endeavor, is set to assume the role of CEO for TKO Group. Vince McMahon, the controlling shareholder of WWE, will take on the position of executive chairman within the newly formed company. TKO Group Holdings will feature 11 board members of the company's directors. five will come from WWE's side, while six will be appointed by Endeavor. Both McMahon and Emanuel will be on that board of directors.