WWE and UFC merge to form USD 21 bln sports entertainment company

Washington [US], April 4 (ANI): Two iconic global sports entertainment brands — World Wrestling Entertainment and Endeavor Group Holdings-owned Ultimate Fighting Championship (UFC) — announced they have signed an agreement to form a new entity. The transaction values UFC at an enterprise value of USD 12.1 billion and WWE at an enterprise value of USD 9.3 billion. Upon the close of the deal, Endeavor will hold a 51 per cent stake in the new entity and existing WWE shareholders will hold the rest 49 per cent stake. “Together, UFC and WWE will have global reach, impressive scale and omnichannel distribution,”…