UFC and WWE will merge into a new corporation
American holding Endeavor Group Holdings (EGF), announced the acquisition of the famous wrestling promotion World Wrestling Entertainment (WWE).
The holding company, which hosts the Ultimate Fighting Championship (UFC), now plans to merge both brands under one public company.
EGF will own 51% of the shares in the new business. The other 49% will be controlled by current WWE shareholders. Note that the cost of the UFC was estimated at $12.1 billion, and WWE – at $9.3 billion.
Ari Emanuel will be CEO of Endeavor and the new company. Vince McMahon will also serve as executive chairman and Mark Shapiro will serve as president and COO of both Endeavor and the new company. Dana White will continue to serve as President of the UFC and Nick Khan will continue to serve as President of WWE.
Source: Sportarena
I am Ashley Ortiz and I am a professional journalist working for Athletistic. My specialty is in sports journalism, particularly boxing. I have written articles for some of the most renowned publications on the subject, and my work has been featured across both print and digital media platforms.
