After reports of a sale surfaced on Sunday, WWE confirmed this morning that they had reached an agreement with Endeavor, the parent company of the UFC.
WWE and UFC will be combined into a single publicly traded company. Endeavor will retain 51% of the company, while shareholders will own 49%. TKO will be the ticker symbol for the new company.
As PWMania.com previously reported, Ari Emanuel will be the CEO of both Endeavor and the new WWE/UFC company, while Mark Shapiro will be the president of the new company. Vince McMahon will be the new company’s executive chairman, with Nick Khan as WWE president and Dana White as UFC president. A new 11-member Board will be formed, with six members from Endeavor and five from WWE.
According to Brandon Thurston of WrestleNomics, a meeting with WWE employees about the sale will take place this afternoon.
WWE employees were sent an email from Vince McMahon announcing the transaction and that there’s an all employees meeting at 4 pm ET.
— Brandon Thurston (@BrandonThurston) April 3, 2023
