After reports broke on Sunday regarding a sale, WWE confirmed this morning that they had entered into an agreement with Endeavor, the parent company of the UFC.
WWE and the UFC will be merged into one publicly traded company. Endeavor will remain in place, owning 51%, while shareholders will have 49% of the company.
The new company will trade under the ticker symbol TKO. Ari Emanuel will serve as chief executive of both Endeavor and the new WWE/UFC company while Mark Shapiro will be the new company’s president. Vince McMahon will be executive chairman of the new company, with Nick Khan as president of WWE and Dana White remaining as president of UFC.
There will be a new 11-person Board that includes six members from Endeavor and five from WWE.
Brandon Thurston of WrestleNomics reports there will be a meeting with WWE employees this afternoon regarding the sale.
WWE employees were sent an email from Vince McMahon announcing the transaction and that there’s an all employees meeting at 4 pm ET.
— Brandon Thurston (@BrandonThurston) April 3, 2023
