BOSS COMMENT ON WWE AND UFC UNIFICATION
Endeavor has announced that it will form a new global company that brings together WWE and the UFC, owning 51% of the shares in the same, while current shareholders of WWE will have a 49% stake.
Ari Emanuel, Vince McMahon, Nick Khan and Dana White will hold positions of great relevance in the future of this group, CEO, Executive Chair of the Board and presidents of WWE and UFC, respectively.
In the statement made by the three companies, the CEO of Endeavor and the new company, Ari Emanuel, mentions the following:
"This is a rare opportunity to create a global live sports and entertainment group built for where the industry is heading. For decades, Vince [McMahon] 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 shareholder value by bringing the UFC and WWE together."
The Executive Chairman of WWE and the new company, Vince McMahon says:
"Given the incredible work that Ari [Emanuel] and Endeavor have done to grow the UFC brand - nearly doubling its revenue over the last seven years - and the immense success we've already had in partnering with his team on several endeavors, I believe this is undoubtedly the best outcome for our shareholders and other stakeholders.
Together, we will be a $21 billion+ live entertainment and sports powerhouse with a collective fan base of over one billion people and an exciting opportunity for growth. The new company will be well positioned to maximize the value of our combined media rights, increase sponsorship monetization, develop new forms of content and pursue other strategic mergers and acquisitions to further reinforce our strong brand stability."
With the two companies together and creating synergies between them, Endeavor expects to achieve great financial results in the coming years.
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