Endeavor confirmed reports that surfaced Sunday of a purchase of the WWE.
The company, who purchased the UFC in 2016 in a $4.2 billion deal, will form a $21 billion global live sports and entertainment company between the MMA promotion and WWE.
“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.”
Together, UFC and WWE will have global reach, impressive scale and omnichannel distribution. On a combined 2022 fiscal year-end basis, UFC and WWE achieved revenue of $2.4 billion and a 10% annual revenue growth rate since 2019.
“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.”
Katy Perry says she is getting some new inspiration these days. She said in an interview…
The singer Taylor Swift is being blasted by the Pet Shop Boys' Neil Tennant, who…
The actor Lucas Black, who is best known for starring in "NCIS" and "NCIS: New…
Since being founded by Gene Simmons and Paul Stanley back in 1973, KISS has been…
The legendary star Carol Burnett is set to turn 91 tomorrow, and we previously reported…
It's been two years since the former "Full House" star Bob Saget passed away suddenly…