The deal to combine WWE and UFC within TKO Group Holdings is expected to close next month.
Coming out of WrestleMania 39, WWE pushed out the announcement that they’ve reached an agreement with Endeavor to merge with UFC and form a new sports and entertainment company. It is going to be called TKO Group Holdings Inc.
Endeavor released their second quarter 2023 results and one of the highlights in the report is the transaction to combine UFC and WWE within TKO Group Holdings is expecting to close in mid-to-late September 2023. The following is from the press release:
- $1.436 billion in Q2 2023 revenue, reflecting year-over-year growth across all four reporting segments
- Transaction to combine UFC and WWE within TKO Group Holdings, Inc. expected to close in mid- to late September 2023
- Completed sale of IMG Academy at an enterprise value of $1.25 billion, allowing the Company to commence share repurchases of up to $300 million of Class A common stock in the third quarter
- Expect to begin making quarterly cash dividend payments at the end of Q3
Endeavor CEO Ari Emanuel is going to serve as CEO of TKO Group Holdings and Vince McMahon will be Executive Chairman.