In a historic turn of events, the WWE is undergoing a massive transformation with the recent acquisition by Endeavor, the parent company of the UFC. This marks the biggest change in the company’s history, as it has been confirmed that the global multimedia conglomerate is now under new ownership.

Reports surfaced yesterday that a major announcement regarding the deal was imminent, and today the news was made official. WWE’s CEO, Vince McMahon, returned to the helm with the goal of steering the company towards a sale, and despite initial projections of a mid-2023 timeline, the deal was successfully brokered at the beginning of April.

Endeavor should have spent more time announcing their acquisition of WWE, releasing a press statement detailing the extent of their newly acquired assets. The move is set to have significant implications for the future of sports entertainment and the WWE’s position in the industry, as Endeavor takes on a major player in the world of professional wrestling.

World Wrestling Entertainment, Inc. (NYSE: WWE) (“WWE”) today announced that they have signed a definitive agreement to form a new, publicly listed company consisting of two iconic, complementary, global sports and entertainment brands: UFC and WWE. Upon close, Endeavor will hold a 51% controlling interest in the new company and existing WWE shareholders will hold a 49% interest in the new company.

Together, UFC and WWE will have global reach, impressive scale and omnichannel distribution. On a combined 2022 fiscal year-end basis, UFC and WWE achieved revenue of $2.4 billion and a 10% annual revenue growth rate since 2019.

Ariel Emanuel, the CEO of Endeavor, expressed his excitement about the recent sale of WWE. He described the acquisition as a golden opportunity for the company to expand its reach in the industry, leveraging the legacy and reputation that Vince McMahon has built over the years. By acquiring WWE, Endeavor is poised to significantly impact the world of professional wrestling and further solidify its position as a major player in the entertainment industry.

“This is a rare opportunity to create a global live sports and entertainment pureplay built for where the industry is headed. For decades, Vince and his team have demonstrated an incredible track record of innovation and shareholder value creation, and we are confident that Endeavor can deliver significant additional value for shareholders by bringing UFC and WWE together.”

Ariel Emanuel will lead this new company, Vince McMahon will remain Executive Chairman of the Board, and Mark Shapiro will become President and Chief Operating Officer of both Endeavor and the new company.

Dana White will continue as President of UFC, and Nick Khan will serve as President of WWE. 11 members of the company’s Board of Directors will be named later.