World Wrestling Entertainment has agreed to merge with UFC, which is owned by Endeavor Group, to form a new parent company.

 

World Wrestling Entertainment has agreed to merge with UFC, which is owned by Endeavor Group, to form a new parent company.   Endeavor will hold a 51% controlling interest in the publicly traded combined entity, while WWE will own the remaining 49%. The agreement gives UFC an enterprise value of $12.1B and WWE an enterprise value of $9.3B. WWE has a market cap of about $6.5B, and Endeavor has a market cap of about $10.7B. Following news of the planned merger, shares in both companies fell more than 4%. WWE fell ~4.6%, and Endeavor fell ~6%. Endeavor CEO Ari Emanuel is expected to head both Endeavor and the new company. The deal is expected to close in H2 2023.