WWE-Endeavor deal official, TKO begins trading on stock market

A new era for WWE is officially here.

For the first time in more than four decades, Vince McMahon is not the majority owner of WWE. A press release was issued on Tuesday announcing that Endeavor and WWE have completed their deal to create TKO Group Holdings, a merged company with WWE and the UFC. Endeavor holds a controlling interest of 51 percent in the new company, with WWE shareholders holding a 49 percent interest.

WWE and the UFC will continue to operate independently despite now being part of the same company.

“TKO brings together UFC, the world’s premier mixed martial arts organization, and WWE, an integrated media organization and the recognized global leader in sports entertainment, to create 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 press release said. “Through this combination, TKO will leverage Endeavor’s expertise in areas including domestic and international media rights, ticket sales and yield optimization, event operations, global partnerships, licensing, and premium hospitality to drive revenue growth.”

Endeavor CEO Ari Emanuel will serve as the CEO of TKO Group Holdings. Vince McMahon, whose title is executive chairman of the company, will run the pro wrestling side of the business. Dana White is the CEO of UFC.

The press release included a statement from McMahon:

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. Our focus remains on delivering for our fans across the globe as we take the business to the next level alongside UFC and Endeavor.

WWE president Nick Khan also has a seat on TKO’s board of directors.

To celebrate the deal becoming official, Emanuel rang the opening bell of the New York Stock Exchange this morning. McMahon, White, Khan, Paul “Triple H” Levesque, Bianca Belair, Daniel Cormier, and Kevin Dunn were among those joined Emanuel as he rang the bell.

TKO, WWE, and UFC branding is represented at the stock exchange on Tuesday. TKO is officially listed for trading starting today.

A hype video for the new company included clips of Becky Lynch, Logan Paul, John Cena, Belair, and Jey Uso.

The deal between Endeavor and WWE was first announced this April.