Wrestlemania 2023. Photo by Ronald Martinez/Getty Images.
World Wrestling Entertainment (WWE) and the Ultimate Fighting Championship (UFC) will merge into one company as part of a sale to Endeavor Group Holdings. The new operation will be valued at $21.4 billion thanks to the UFC's $12.1 billion valuation and WWE's $9.3 billion.
WWE Executive Chairman Vince McMahon will join the new "global live sports and entertainment company" in the same role. Endeavor will have a controlling interest of 51% in the new company with existing WWE shareholders securing the remaining 49%.
"Together, we will be a $21-plus billion live sports and entertainment powerhouse with a collective fanbase of more than a billion people and an exciting growth opportunity," McMahon said in a statement.
Earlier this year, reports emerged of a potential sale of WWE with Saudi Arabia's Public Investment Fund rumored as the lead contender (this was later denied). Other potential buyers included Comcast, Fox, Disney, Warner Bros. Discovery, Netflix, and Amazon.
McMahon stepped down from WWE's board in July 2022 over allegations of sexual assault and unreported company expenditures totaling $20 million. He returned to the company on January 10, 2023.
Speaking with CNBC on Monday, McMahon denies that the allegations motivated the sale and claimed to have atoned for past transgressions. "I’ve made mistakes, obviously, both personally and professionally… I’ve owned up to every single one of them and moved on."