WWE-Endeavor deal expected to close next week

The WWE-UFC merger is expected to be finalized next week. 

Endeavor and WWE announced today that the deal for Endeavor to purchase WWE and merge the company with UFC to create TKO Group Holdings is expected to close on September 12. 

From today’s press release:

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”.

Endeavor revealed in their Q2 earnings release last month that they expected the deal to close mid to late September. 

Layoffs of company employees are widely expected in the wake of the deal closing. Endeavor CEO Ari Emanuel has stated there are plans for “cost savings and synergies” resulting from the merger. 

A filing with the Securities and Exchange Commission on August 10 revealed ten of the eleven board members for TKO Group Holdings. Vincent K. McMahon (WWE), Ariel Emmanuel (Endeavor), Egon P. Durban (Endeavor), Nick Khan (WWE), Steven R. Koonin (WWE), Jonathan A. Kraft (Endeavor), Sonya E. Medina (Endeavor), Mark Shapiro (Endeavor), Nancy R. Tellem (WWE), Carrie Wheeler (Endeavor), were the names listed in the filing.