Merger Between Stamford-Based WWE And UFC Now Complete

STAMFORD, CT — The sale and merger between Stamford-based World Wrestling Entertainment, Inc., and Endeavor Group Holdings, Inc., the parent company that runs Ultimate Fighting Championship, is now complete and TKO Group Holdings, Inc., has officially launched.

WWE and Endeavor in April originally announced an agreement to form what they called a $21-billion global live sports and entertainment company.

"TKO brings together UFC, the world’s premier mixed martial arts organization, and WWE, an integrated media organization and the recognized global leader in sports entertainment, to create a new premium sports and entertainment company serving more than one billion young and diverse fans, reaching viewers in 180 countries, and producing more than 350 annual live events,"a news release from WWE said on Tuesday.

Ariel Emanuel, CEO of Endeavor and TKO, said the creation of TKO "marks an exciting new chapter for UFC and WWE as leaders in global sports and entertainment.

"Given their continued connectivity to the Endeavor network, we are confident in our ability to accelerate their respective growth and unlock long-term sustainable value for shareholders," Emanuel added. "With UFC and WWE under one roof, we will provide unrivaled experiences for more than a billion passionate fans worldwide."

The closing of the deal concludes WWE's run of being a family business.

Vince McMahon purchased what was then the World Wrestling Federation in the early 1980s from his father, Vincent J. McMahon, and helped bring wrestling and sports entertainment to new heights both across the United States and around the world.

"This is the culmination of a decades-long partnership between Endeavor and WWE across strategic initiatives including talent representation and media rights. Given our collaborative, trusted relationship and Endeavor’s incredible track record of success growing UFC, we believe WWE is optimally positioned for future growth and success as part of TKO," McMahon, now the executive chairman of TKO, said in a news release. "Our focus remains on delivering for our fans across the globe as we take the business to the next level alongside UFC and Endeavor."

McMahon stepped down and ultimately retired in July 2022 as the head of WWE following the launch of an investigation by the company's board into allegations of sexual misconduct.

He returned to WWE at the beginning of 2023 to help facilitate a possible sale of the company.

TKO began trading Tuesday on the New York Stock Exchange under the ticker symbol "TKO."

Endeavor holds a 51 percent controlling interest in the new company and existing WWE shareholders hold a 49 percent interest in the new company, on a fully diluted basis, a news release said.

WWE has been in the process of opening its new headquarters at 677 Washington Blvd., in downtown Stamford.

The company has been headquartered at Stamford's Titan Towers, located at 1241 E. Main St., since 1985.