World Wrestling Entertainment Inc. Chairman Vince McMahon (L) and wrestler Triple H appear in the ring during WWE’s Monday Night Raw show at the Thomas & Mack Center August 24, 2009
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Vince McMahon’s World Wrestling Entertainment as he has agreed to join forces with the UFC to form a new publicly traded company Try GroupThe team announced Monday morning.
The company will have a 51% stake in the new fighting game and entertainment company, while WWE partners will have the remaining 49%, according to the terms of the agreement. The deal values WWE at $9.3 billion and UFC, which is owned by Conan, at $12.1 billion, the companies said. by Aenean, sometimes the burden of grief.
Shares of WWE have fallen in the stock market, while Rose shares the effort.
Ari Emanuel will act as chief executive of both companies and the new company, the companies said. McMahon will likewise serve as executive chairman, while President and COO Mark Shapiro will serve in the same roles at the new company. Dana White will remain the president of the UFC, and WWE CEO Nick Khan will remain as the president of the wrestling business.
The board will consist of 11 people, six appointed by Eneavo and five appointed by WWE. The name of the company involved will be announced at a later date.
Ari Emanuel speaks onstage at the 2017 LACMA Art + Film Gala Honoring Mark Bradford and George Lucas presented by Gucci at LACMA on November 4, 2017 in Los Angeles, California.
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The announcement was confirmed by a CNBC report earlier. Even the next day, WWE was involved in their flagship event, WrestleMania, in California. The company has been looking for a buyer for the past several months. McMahon returned to the company as president in January to oversee the process. WWE shares are up more than 33% this year as of Friday’s closing bell, giving it a market value of more than $6.79 billion.
It has come together to create two of the most famous sports shows in the world. Despite the notable differences – WWE features scripted matches and similar storylines, while UFC showcases real brutal mixed martial arts fighters – the organizations look like a good fit in terms of content and culture. Several UFC fighters, including Ronda Rousey and Brock Lesnar, have now wrestled for WWE.
UFC claimant and superstar Conor McGregor received much praise for the pending news on Sunday evening. “Incredible. How powerful!” he said in one TweetHe followed up with another tweet posting a picture of her The UFC and WWE championships are under wraps.
The merger will also end WWE’s decades as a domestic business. McMahon’s father The WWE was founded in its original incarnation in the mid-20th century. McMahon, who bought the company from his father in 1982, is a managing partner. Over the past four decades, WWE has grown into a global phenomenon, boasting breakout stars such as Hulk Hogan, Dwayne “Petra” Johnson, Dave Bautista and John Cena.
McMahon, 77, retired from the company in July after a string of revelations that it paid several women millions of dollars over the years to keep them quiet about alleged affairs and wrongdoing. His daughter, Stephanie McMahon, became co-CEO of Kan’s company. Paul Levesque, who is known as both the husband of Stephanie McMahon and the wrestler Triple H, has taken over creative duties from Vince McMahon.
Dana White appears at the UFC 282 post-fight press conference on December 10, 2022 at the T-Mobile Arena in Las Vegas, NV.
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After Vince McMahon returned in January, Stephanie McMahon stepped down and Khan took over the role fully. Elder McMahon recently closed on a two-year employment contract, according to a to file security.
Khan has been making the media rounds in recent weeks to discuss a potential sale. Morgan Brennan told CNBC on Thursday that the process was robust and attracted many interested buyers.
WWE provides muscular media partners with a muscular media effort and live business events, as well as decades worth of intellectual property. The company generated $1.29 billion in revenue last year. I was most repulsed by its $1 billion central unit.
The UFC, meanwhile, is paying for the effort. Last year, the MMA league helped its parent sports company generate $1.3 billion in revenue. The market capitalization stood at around $10.53 billion as of last Friday.
The WWE also fits well with the cultural efforts of the UFC, which also reflect the edgy styles of its leaders. McMahon, Emanuel and White are known for their personal personalities, and each has his share of devoted allies and harsh critics.
Brutus is no stranger to scandal either. This year it appears that the UFC boss appeared before showing his wife in public at a New Year’s Eve party in Mexico. who was later excused.
Disclosure: Pavo, a streaming service owned by CNBC parent NBCUniversal, carries WWE events such as WrestleMania.