MMA franchise UFC’s owners and WWE will team up to create a new sports entertainment company worth $17.3 billion.
Endeavor Group Holdings, the owners of the UFC, will own 51% of the publicly traded firm, while current WWE shareholders will maintain 49%.
Ari Emanuel, chief executive of Endeavor, will oversee operations.
Dana White will continue to serve as president of the Ultimate Fighting Championship, and Vince McMahon will continue in his position as executive chairman of WWE.
Although allegations of wrongdoing forced him to quit last year, McMahon rejoined the WWE board in January and suggested the business might be up for sale.
“This is a rare opportunity to create a global live sports and entertainment pureplay built for where the industry is headed,” said Emanuel.
“For decades, Vince and his team have demonstrated an incredible track record of innovation and shareholder value creation, and we are confident that Endeavor can deliver significant additional value for shareholders by bringing UFC and WWE together.”
WWE has a large, diverse fan base that spans all financial levels and age groups.
In the last quarter of 2022, the corporation had more than 16 billion social media video views. It has more than 20 million followers on TikTok and approximately 94 million YouTube subscribers.
On Facebook, Twitter, and Instagram, five of its female wrestlers are among the top 15 most popular female athletes in the world, with former UFC fighter Ronda Rousey leading the pack with 36.1 million followers.