WWE stated in April that they have agreed to be acquired by The Endeavor Group, with the intention of merging WWE and UFC to form a new publicly traded business called TKO Group Holdings.
Although Endeavor will control WWE and both the UFC and WWE will be run as independent businesses, with Vince McMahon running the wrestling side of things and Triple H as the head of creative.
Layoffs are expected as a result of the merger because there will be personnel at Endeavor in areas that can handle things at various WWE departments.
WrestleNomics’ Brandon Thurston tweeted this morning that WWE CEO Nick Khan sent a memo to WWE employees stating that the WWE-UFC merger under TKO Group Holdings will be completed next Tuesday, September 12th.
The official press announcement is below.
BEVERLY HILLS, Calif. & STAMFORD, Conn.–(BUSINESS WIRE)–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, at which time TKO will begin trading on the New York Stock Exchange under the ticker symbol “TKO”.
