WWE and UFC Merge to Create TKO Group, Vince McMahon Loses Majority Control

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WWE and UFC Merge to Create TKO Group, Vince McMahon Loses Majority Control

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Vince McMahon Loses Majority Control as WWE and UFC Merge to Form TKO Group Holdings

Vince McMahon has officially lost his majority control of WWE as Endeavor completes its majority-stake purchase of the wrestling giant. This merger creates TKO Group Holdings, with shares in the company trading on the New York Stock Exchange at an opening price of $102 per share.

Endeavor now owns 51 percent of the newly formed company, while McMahon retains a 16.4 percent stake in TKO as part of the deal. The agreement for Endeavor to acquire a majority stake in WWE was made in April, valuing the world’s largest professional wrestling company at $9.3 billion. As part of this deal, Endeavor agreed to spin off UFC, creating a $21 billion combat sports powerhouse.

Vince McMahon had controlled WWE since taking over from his father in 1982, transforming the business from a regional entity into a national phenomenon.

Ariel Emanuel, CEO of Endeavor, commented on the creation of TKO, stating, “The creation of TKO marks an exciting new chapter for UFC and WWE as leaders in global sports and entertainment. 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.”

Despite challenges over the years, McMahon has maintained WWE’s position as the most valuable promotion in the world. While facing competition from WCW in the 1990s and AEW’s rise over the past decade, WWE remains the dominant force in the industry.

Vince McMahon will continue to serve as the executive chairman of TKO Holdings and is expected to remain involved in WWE’s creative decisions. Paul Levesque, known as Triple H, will continue as WWE’s head of creative.

Reference:

https://www.chatsports.com/mma/a/source/wwe-ufc-officially-merge-form-tko-group-vince-mcmahon-loses-majority-control-17657234

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