The WWE takeover by Endeavor is imminent.
The day after WrestleMania 39 was one of the biggest in terms of announcements in the history of the pro wrestling business. Vince McMahon and Ari Emanuel announced that Endeavor was to take over WWE, ending the McMahon family’s majority ownership of the business.
The sports entertainment giant is to be merged under a new parent company with UFC, which Endeavor already owns. The bringing together of the two huge brands is causing some staff to “grit their teeth” with job cuts expected straight away.
Now in a press release, it has been revealed that the takeover will be completed on September 12th with TKO Group Holdings Inc. – the proposed parent company of WWE and UFC – being floated on the New York Stock Exchange thereafter:
BEVERLY HILLS, Calif. & STAMFORD, Conn. (September 7, 2023) – Endeavor Group Holdings, Inc. (NYSE: EDR) (“Endeavor”) and World Wrestling Entertainment, Inc. (NYSE: WWE) (“WWE”) today announced they expect to close the previously announced transaction to form TKO Group Holdings, Inc. (“TKO”) on September 12, 2023, after which time TKO will begin trading on the New York Stock Exchange under the ticker symbol “TKO”.
What does the future hold for WWE?
While jobs are expected to go behind the scenes, there is not believed to be an imminent risk to members of the roster.
Vince McMahon will take up a role as Executive Chairman of TKO Group but there is no place on that company’s Board of Directors for Triple H. Nick Khan will move from his role as CEO to President of the brand, holding a similar position to that of Dana White in UFC.