As the second night of WrestleMania 39 got underway, rumors swirled that Endeavor, the parent company of the UFC, was in advanced talks to purchase the WWE. According to a report by CNBC’s Alex Sherman, the deal could be announced as soon as Monday.
If the deal goes through, WWE and UFC will merge to become one publicly traded company. Sources suggest that Endeavor would own 51% of the new company, with the remaining 49% being held by WWE shareholders. The acquisition would value WWE at a staggering $9.3 billion.
Despite the potential sale, WWE’s current executive chairman, Vince McMahon, will stay on board. Endeavor CEO Ari Emanuel is expected to be named the new company’s chief executive, while Endeavor President Mark Shapiro will take on the same role for the newly created entity. WWE CEO Nick Khan is set to become president of the wrestling side of the business, with Dana White retaining his position as UFC president.
Interestingly, during Endeavor’s fourth quarter earnings call last month, Emanuel appeared to downplay any interest in acquiring the WWE. However, if this latest report is to be believed, the two companies are now on the brink of a monumental merger.
“As it relates to WWE, it’s an unbelievable product,” Emanuel said. “Vince, you know, created a great business. We’ve had a longstanding relationship with them over two decades. We’re doing on location business with them, streaming business with them, his business is really valuable. But we’re not going to do anything as it relates to changing our leverage position right now.”
