World Wrestling Entertainment and the Ultimate Fighting Championship join forces in a multi-billion pound partnership
WORLD Wrestling Entertainment (WWE) and the Ultimate Fighting Championship (UFC) join forces in a multi-billion pound partnership.
Vince McMahon, boss and controlling shareholder of pro wrestling promotion company WWE, has struck a deal with Endeavor Group, owner of mixed martial arts organization UFC, to combine the two brands.
The newly merged entity will be broken down into a publicly traded company worth more than £17 billion.
Fight fit: Vince McMahon, boss of pro wrestling company WWE, has signed a deal with Endeavor Group, owner of mixed martial arts organization UFC, to combine the two brands
Beverly Hills-based Endeavor will own 51 percent of the new company, with WWE investors controlling the remaining 49 percent. The deal values the latter at £7.5 billion. Endeavor boss Ari Emanuel will become CEO of the conglomerate, while McMahon will serve as executive chairman.
The deal marks a stunning comeback for 77-year-old McMahon, who was forced to leave last July over allegations of sexual misconduct and hush money payouts.
He was succeeded by his daughter Stephanie.
But in January, he bulldozed his way back to the board in a coup that resulted in Stephanie’s resignation.