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May 14, 2024 05:39
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- Chris James 2
- Aug 9, 2012
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https://www.nytimes.com/2023/04/02/business/media/endeavor-wwe-vince-mcmahon-ari-emanuel.html
NYT posted:Endeavor, the Hollywood entertainment colossus that owns the Ultimate Fighting Championship, is close to a deal that would combine that league with World Wrestling Entertainment, two people familiar with the negotiations said on Sunday. The combination would mean a behemoth in combat entertainment, both real and scripted.
The deal could be announced as early as this week, said the people, who requested anonymity to discuss confidential negotiations.
The deal would create a new, publicly traded company, according to the people, with Endeavor’s U.F.C. league composing 51 percent of the business and W.W.E. the remaining 49 percent.
The union would increase the combined company’s leverage in negotiations with distributors of its content, potentially allowing it to command a higher price for programming than the companies could separately.
The rest of Endeavor, which includes the William Morris Endeavor talent agency, would remain a separate, publicly traded company.
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Apr 3, 2023 00:05
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- Chris James 2
- Aug 9, 2012
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It's official https://corporate.wwe.com/news/company-news/2023/04-03-2023
quote:Endeavor Group Holdings, Inc. (NYSE: EDR) (“Endeavor”) and World Wrestling Entertainment, Inc. (NYSE: WWE) (“WWE”) today announced that they have signed a definitive agreement to form a new, publicly listed company consisting of two iconic, complementary, global sports and entertainment brands: UFC and WWE. Upon close, Endeavor will hold a 51% controlling interest in the new company and existing WWE shareholders will hold a 49% interest in the new company.
“This is a rare opportunity to create a global live sports and entertainment pureplay built for where the industry is headed,” said Ariel Emanuel, CEO of Endeavor. “For decades, Vince and his team have demonstrated an incredible track record of innovation and shareholder value creation, and we are confident that Endeavor can deliver significant additional value for shareholders by bringing UFC and WWE together.”
“Given the incredible work that Ari and Endeavor have done to grow the UFC brand – nearly doubling its revenue over the past seven years – and the immense success we’ve already had in partnering with their team on a number of ventures, I believe that this is without a doubt the best outcome for our shareholders and other stakeholders,” said Vincent K. McMahon, Executive Chairman of WWE.
McMahon continued, “Together, we will be a $21+ billion live sports and entertainment powerhouse with a collective fanbase of more than a billion people and an exciting growth opportunity. The new company will be well positioned to maximize the value of our combined media rights, enhance sponsorship monetization, develop new forms of content and pursue other strategic mergers and acquisitions to further bolster our strong stable of brands. I, along with the current WWE management team, look forward to working closely with Ari and the Endeavor and UFC teams to take the businesses to the next level.”
The new company will be led by Emanuel (Chief Executive Officer), who will also continue in his role as Chief Executive Officer of Endeavor, McMahon (Executive Chairman of the Board) and Mark Shapiro, who will be President and Chief Operating Officer of both Endeavor and the new company. Dana White will continue in his role as President of UFC and Nick Khan will serve as President of WWE. The Board of Directors will consist of 11 members who will be appointed at a later date, six of whom will be appointed by Endeavor and five of whom by WWE.
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Apr 3, 2023 12:19
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Apr 2, 2023 21:59
