Vince McMahon’s kingpin wrestling promotion, World Wrestling Entertainment (WWE), has now officially merged with the Ultimate Fighting Championship (UFC) to form what is known as the TKO (Technical Knockout) Group. It is now available for trade on the New York Stock Exchange (NYSE).
Endeavor, the parent company of UFC, expressed the celebration of “a new premium sports and entertainment company serving more than one billion young and diverse fans, reaching viewers in 180 countries, and producing more than 350 annual live events.”
The deal was announced right before the market opened on the morning of September 12, 2023. Endeavor will own 51% of TKO and WWE will own 49%. Ari Emanuel, the CEO of Endeavor, will step in as the chief executive of TKO, with Vince McMahon serving as executive chairman.
Nick Khan is the president of the WWE, and Dana White will remain in charge as CEO of the UFC.
This new organization starts at a valuation of $21 billion, with approximately $2.5 billion in annual revenue and more than $1 billion in EBITA. TKO plans to leverage Endeavor’s expertise in international media rights, licensing, premium hospitality, global partnerships, and live events.