The newly created and soon to be publicly traded company that will form an umbrella over the UFC-WWE merged company finally has a name. It will be called TKO Group Holdings, according to a report by CNBC. The plan is for the new company to go public and be traded on the New York Stock Exchange under the TKO symbol sometime in late 2023.
Endeavor, which is the parent company of the UFC, recently acquired a majority stake in WWE as well. They revealed plans to put the UFC and WWE under one roof. Endeavor owns a 51% stake in the new company, while WWE shareholders will hold a 49% interest.
Endeavor CEO Ari Emanuel will hold the same position at TKO Group, while WWE’s Vince McMahon will serve as executive chairman of the new company.
The UFC and WWE will continue to operate their separate brands. Dana White will remain as president of the UFC, while the WWE will continue to be headed by Nick Khan. The two companies will, however, have a synergistic relationship with TKO Group streamlining many redundant operations.
The true strength of the UFC-WWE merger is in the combined power the two brands will have when it comes to things like media rights, which both are about due to address as they each near the end of current deals.
“We have a track record of success with media rights,” Emanuel has said in comments to CNBC. “WWE has similar scale to UFC. In the universe of assets at this scale, the opportunity is rare and finite.”
Endeavor bought the UFC for a little over $4 billion in 2016. It paid more than $9 billion for the WWE in early 2023. The combined valuation of the UFC and WWE when TKO Group Holdings goes public is expected to be north of $20 billion.
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UFC-WWE merged company gets a name, will go public in 2023