The NYSE welcomes TKO Group Holdings Inc. in
celebration of its listing! đź””
$TKO @TKOGrp |
@ufc |
@WWE |
@Endeavor |
@danawhite
| @TripleH |
@BiancaBelairWWE
| @dc_mma
pic.twitter.com/55SSVlQpdw— NYSE 🏛 (@NYSE)
September 12, 2023
The merger between the Ultimate Fighting Championship and World
Wrestling Entertainment is now official.
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TKO Group Holdings debuted on Tuesday as a publicly traded company
at the New York Stock Exchange. Endeavor CEO Ari Emanuel rang the
bell to open trading for the day, and he was accompanied by UFC
president Dana White, WWE executive chairman Vince McMahon, WWE
executive Paul Levesque and ex-UFC two division champ Daniel
Cormier – among others — during the proceedings.
Endeavor Group Holdings has a 51% controlling interest in the
company, while WWE shareholders have a 49% stake. Emanuel will be
chief executive of TKO, while McMahon will serve as executive
chairman – his same role with WWE. White is the CEO, but his role
isn’t expected to change significantly with the title, and WWE CEO
Nick Khan will serve as president of WWE.
“The creation of TKO marks an exciting new chapter for UFC and WWE
as leaders in global sports and entertainment,” Emanuel said in a
release. “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.”
The merger, which was
announced in April, forms a combat sports organization
reportedly valued at $21.4 billion. As a result, Endeavor is
expecting “significant growth” in domestic and international media
rights, ticket sales and yield optimization, event operations,
sponsorship, licensing and premium hospitality.
“This is the culmination of a decades-long partnership between
Endeavor and WWE across strategic initiatives including talent
representation and media rights. Given our collaborative, trusted
relationship and Endeavor’s incredible track record of success
growing UFC, we believe WWE is optimally positioned for future
growth and success as part of TKO,” McMahon said in the release.
“Our focus remains on delivering for our fans across the globe as
we take the business to the next level alongside UFC and
Endeavor.”
.@TKOGrp
@ufc
@WWE
pic.twitter.com/Oh8y6lWYs9— danawhite (@danawhite)
September 12, 2023