In a blockbuster deal worth $21.4 Billion, two of the world’s leading wrestling entertainment houses, WWE and UFC, merged under the latter’s parent company Endeavor Group Holding Inc.
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WWE co-founder and former chairman Vince McMahon played a huge role in the merger that ensued for many months, after coming back in January following his sabbatical. McMahon is set to retain his role in the yet-unnamed company.
There were reports of McMahon sexually abusing multiple women wrestlers and the follow-up hush money he hand handed out to the women to keep the details of the same from leaking.
Following the merger, a report read that Endeavor was well and truly aware of the public’s dissatisfaction with McMahon and the desire of the fans for the 77-year-old to be fired.
McMahon has been a pioneer in bringing the WWE to mainstream entertainment ever since his takeover of the company back in the year 1982.
He transformed the sport and has overseen the development of the franchise into what it is today.
A new publicly traded company under the ticket name ‘TKO’ will comprise both the brands, WWE and UFC, with Endeavor set to take up a controlling stake of 51 per cent in the new venture. WWE shareholders will be subjected to 49 per cent of the stake.
Endeavor started out representing movie and television talents, before diversifying its assets. The holding group also has other high-profile investments such as Madrid Open and Miami Open.
UFC’s stock values also have consistently been on the up ever since the Endeavor takeover back in the year 2016.
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WWE’s annual showpiece, Wrestlemania, was recently held in Los Angeles over two days. There were multiple high-octane clashes as before WWE Universal Champion Roman Reigns retained his undisputed title with his win over American Nightmare Cody Rhodes, who has seen a revival story himself over the past year.
The Tribal Chief has now held onto the glittery belt for 950 days in his second stint as champion since clinching the title back in August 2020.
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