WWE and UFC merged into one company
WWE has agreed to merge with the UFC to create a new company that will be publicly traded and controlled by Endeavor Group, the companies announced.
Endeavor will own 51% of the new combat sports and entertainment company, while WWE shareholders will receive the remaining 49%, according to the terms of the agreement.
The deal values WWE at $9.3 billion and UFC-owned Endeavor at $12.1 billion, the companies said in a press release.
Likewise, McMahon will serve as executive chairman, while Endeavor President and COO Mark Shapiro will also serve in the same positions in the new company, the companies said.
Dana White will remain president of the UFC, and WWE CEO Nick Khan will remain president of the wrestling business.
The Board of Directors will consist of 11 people, 6 of whom are appointed by Endeavor and 5 by WWE.
The name of the merged company will be announced at a later date