A new report provides a major update on when Endeavor plans to close the merger between WWE and UFC.
Back in April, it was announced that WWE would be merging with UFC to form a new $21+ billion entity under parent company Endeavor. A press release at the time revealed the following details:
“Endeavor will hold a 51% controlling interest in the new company and existing WWE shareholders will hold a 49% interest in the new company.
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.”
It was later reported that the new company will be called TKO Group Holdings.
When Will Endeavor Finalize The Merger Between WWE And UFC?
Earlier this month, it was reported that Endeavor planned to close the merger between WWE and UFC in the second half of 2023. However, an update from Deadline provides a much more specific timeframe, revealing that the merger is expected to be complete by mid-September. Deadline reports:
“The company said its pending deal to take control of the WWE and merge it into a new, stand-alone entity called TKO Group Holdings is expected to close in mid- to late-September. (Previous guidance was for a deal close sometime in the second half of the year.)”
While Vince McMahon is expected to serve as Executive Chairman of the Board of TKO Group Holdings, he is currently on medical leave after undergoing major spinal surgery last month. He also remains in the midst of a federal investigation stemming from alleged sexual misconduct and hush money payments.