After being purchased by the Endeavor Group in April of last year, it was announced that WWE would be combined with the UFC to create a new publicly traded company that would trade under the ticker symbol TKO and have a $21 billion market value.
However, this coming September 2023, its merger will seem to come to an end.
WWE and UFC into TKO Group Holdings are “expected to close in mid-to-late September 2023. (Photo: WhatCulture)
When the Endeavor merger of TKO Group Holdings with WWE and Endeavor’s other business, UFC, was first announced, it was made clear that the deal’s completion was not anticipated until later this year. The “Transaction to combine UFC and WWE within TKO Group Holdings, Inc. is expected to close in mid-to late September 2023,” according to Endeavor’s 2023 Q2 earnings results.
Ari Emanuel, CEO of Endeavor, stated during the call with investors that plans are already in place to make cost reductions and “synergies”—i.e., cuts—happen right away after the deal is finalized. WWE CEO Nick Khan proposed cutting $50 million from WWE in “aggressive” cuts in April in response to the UFC’s merger. Although it has been stated that these cuts won’t affect talent, many people still don’t believe it. Nevertheless, it will be expected that the merger between WWE and UFC will come to an end this coming September 2023.
The merger of WWE and UFC into TKO Group Holdings is “expected to close in mid-to late September 2023,” according to Endeavor Group’s Q2 financial results, which were released earlier today.
The day following Night Two of WrestleMania 39, on April 3, Endeavor Group announced that it had acquired WWE.
TKO Group Holdings will be 51% owned by Endeavor, with WWE’s shareholders holding the remaining 49% of the company.
Transaction to combine UFC and WWE within TKO Group Holdings, Inc. expected to close in mid- to late September 2023
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