LOS ANGELES (CelebrityAccess) — Endeavor Group Holdings announced the closing of closing its deal to acquire the wrestling promotion World Wrestling Entertainment and the launch of the TKO Group.
TKO Group combines WWE with Endeavor’s mixed martial arts promotion Ultimate Fighting Championship, creating a unified entity that Endeavor anticipates will reach more than one billion young and diverse fans in 180 countries, and producing more than 350 live events each year.
According to Endeavor, the combined TKO will leverage the companies’ combined expertise in domestic and international media rights, ticket sales and yield optimization, event operations, global partnerships, licensing, and premium hospitality to drive revenue growth.
As previously announced, TKO will be led by Chief Executive Ari Emanuel as well as COO Mark Shapiro, CFO Andrew Schleimer, and Chief Legal Officer Seth Kraus. Additionally, Dana White will helm UFC while Lawrence Epstein remains Senior Executive Vice President and Chief Operating Officer of UFC. Nick Khan continues at WWE in the role of President.
“The creation of TKO marks an exciting new chapter for UFC and WWE as leaders in global sports and entertainment,” said Ariel Emanuel, CEO of Endeavor and TKO. “Given their continued connectivity to the Endeavor network, we are confident in our ability to accelerate their respective growth and unlock long-term sustainable value for shareholders. With UFC and WWE under one roof, we will provide unrivaled experiences for more than a billion passionate fans worldwide.”
“This is the culmination of a decades-long partnership between Endeavor and WWE across strategic initiatives including talent representation and media rights. Given our collaborative, trusted relationship and Endeavor’s incredible track record of success growing UFC, we believe WWE is optimally positioned for future growth and success as part of TKO,” said Vince McMahon, Executive Chairman of TKO. “Our focus remains on delivering for our fans across the globe as we take the business to the next level alongside UFC and Endeavor.”
