![]() Vince McMahon is the executive chairman of the new company. In 2021, the company struck a deal with NBCUniversal’s streaming service Peacock for a reported $1 billion to air many of its shows. Vince McMahon bought the company from his father in the early 1980s and transformed it into an entertainment empire with several weekly live events. Monday’s deal marks the end of WWE as a family-owned business. Revenue for its sports unit, which houses the UFC, grew 20% last year to $1.3 billion thanks in part to increased media rights fees. ![]() Shares of the company are up more than 10% for the year. The new company’s board of directors will have 11 members named at a later date, with six of them appointed by Endeavor and the remaining picked by the WWE.Įndeavor, which also owns Hollywood’s biggest talent agency William Morris Endeavor, became the outright owner of the UFC in 2021. It will trade on the New York Stock Exchange under the ticker symbol “TKO.” The companies expect to save $50 million to $100 million in costs once the deal is complete, which is expected to close in the second half of this year. WWE shares fell nearly 10% in early trading and Endeavor slumped about 2%. He said in a statement that the new company “will be well positioned to maximize the value of our combined media rights.” He also said the new company could expand by pursuing other mergers and acquisitions “to further bolster our strong stable of brands.” ![]() Vince McMahon will retain his current WWE title of executive chairman at the new company, which doesn’t yet have name. How WWE's Vince McMahon ruthlessly got his job back despite allegations of sexual assault and misuse of company funds
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