World Wrestling EntertainmentInc Chairman Vince McMahon appears in the ring throughout the WWE Monday Night Raw reveal at the Thomas & & Mack Center August 24, 2009 in Las Vegas, Nevada.
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World Wrestling Entertainment and Endeavor’s UFC revealed last month they would combine later on this year. Now we understand the name of the combined business.
The brand-new operation will be called TKO Group Holdings, a representative for Endeavor validatedTuesday As formerly revealed, it will trade on the New York Stock Exchange under the ticker TKO. The name is a referral to the expert combating term “technical knockout.”
With the offer, Endeavor and WWE want to develop a sports home entertainment huge valued at more than $20 billion.
Endeavor CEO Ari Emanuel will likewise be the CEO of TKO Group, while Vince McMahon, WWE’s managing investor and long time manager, will act as executive chairman of the brand-new business. Endeavor will own a 51% stake, while WWE investors will get the staying 49%.
Emanuel has actually stated he plans to run “the same playbook” with WWE that Endeavor made with UFC, whose earnings rose 20% from 2021 to 2022.
“We have a track record of success with media rights,” Emanuel stated last month. “WWE has similar scale to UFC. In the universe of assets at this scale, the opportunity is rare and finite.”
The offer is slated to close in the 2nd half of the year. UFC and WWE will keep their particular names as part of TKO Group.
Despite WWE being scripted and UFC including genuine battles, the 2 companies share much in typical in regards to their fight sports material and cultures.
“This is going to be UFC 2.0,” Emanuel stated in an interview that aired last month on CNBC’s “Squawk on the Street.”
