WWE is sold to Endeavor Group - who also own UFC - in a deal which values the company at $9.3BILLION

[pwaldo]

https://www.dailymail.co.uk/sport/mm...mpany-UFC.html

WWE and UFC have agreed to a merge to form a new publicly-listed company to be controlled by Endeavor Group.

Endeavor - who own UFC - will hold a 51 per cent stake in the combined company, while WWE shareholders will hold 49 per cent, according to the agreement.

The deal values the new company at more than $21.4bn (£17.3bn) according to the companies, with UFC valued at $12.1bn (£9.8bn) and WWE at $9.3bn (£7.5bn).

Shares of WWE were down 4.5 per cent in premarket trading, while Endeavor's rose by 4 per cent.

Ariel Emanuel, CEO of Endeavor, said: 'This is a rare opportunity to create a global live sports and entertainment pureplay built for where the industry is headed.

Meanwhile, Dana White will retain his position as UFC president, WWE chief executive Nick Khan will stay on as president of the wrestling business and chief operating officer and president of Endeavor Mark Shapiro will retain his role in the new company.

The name of the new company is set to be revealed at a later date, while its board will consist of 11 people - six appointed by Endeavor and five by WWE.

Wrestling chief McMahon had returned to WWE as chairman in January to help oversee a sale of the company.

He had previously retired from the company in July following allegations he paid several women millions of dollars of 'hush money' regarding alleged sexual misconduct.

[bakemeister52]

Wow, big business, but I think WWE was losing money, so this should help.

Bake