Endeavor: WWE-UFC Merger ‘Crystalizes’ Value of Entertainment Franchises, Combo to Yield up to $100 Million Cost Savings

Vince McMahon called Monday “a great day” as his iconic company announced plans to sell a controlling stake to Endeavor in a merger with mixed martial arts firm UFC. “Things have to evolve. A family business has to evolve, for all the right reasons. And this is the right business decision, and it’s the right family decision,” McMahon said in an interview today on CNBC.

World Wrestling Entertainment (WWE) and the Ultimate Fighting Championship (UFC) will merge into one company as part of a sale to Endeavor Group Holdings. The new operation will be valued at $21.4 billion thanks to the UFC's $12.1 billion valuation and WWE's $9.3 billion. WWE Executive Chairman Vince McMahon will join the new "global live sports and entertainment company" in the same role.

Joe Otterson TV Reporter In a storyline worthy of the finest pro wrestling angles, the McMahon family’s nearly complete control of WWE is coming to an end after seven decades. That is not to say there will no one within the McMahon family at the helm of the sports entertainment juggernaut. With the announcement that Endeavor Group is purchasing WWE and combining it into a new company with the UFC, it was revealed that Vince McMahon will be executive chairman of the board of the new entity. In addition, Paul Levesque — known to fans as Triple H and also McMahon’s son-in-law — will stay on as chief content officer, a role he assumed in September 2022. But no longer will the WWE be the family-run business that WWE and its predecessors have been since McMahon’s father and grandfather began promoting professional wrestling in New York in 1953. As such, it marks the end of an era for TV’s dominant pro wrestling franchise.

Two of the world’s biggest fighting organizations are coming together.

Endeavor Group Holdings and Worldwide Wrestling Entertainment have entered a definitive agreement to create a new $21.4 billion live sports and entertainment company consisting of UFC and WWE.The deal, which was unanimously approved by Endeavor and WWE’s boards of directors, values UFC at $12.1 billion and WWE at $9.3 billion. It is expected to close in the second half of 2023.Under the terms of the transaction, existing WWE shareholders will roll all existing equity into a new entity that will be the parent company of UFC and WWE (“NewCo” until it is named at a later date) and intends to list on the New York Stock Exchange under the ticker symbol “TKO”.

Patrick Frater Asia Bureau Chief Endeavor Group Holdings and World Wrestling Entertainment said Monday that they had signed a definitive agreement to form a new, publicly listed company consisting of two complementary, global sports and entertainment brands: UFC and WWE. The deal was reported to be close over the weekend by financial media CNBC and Bloomberg. Upon closing, Endeavor will hold a 51% controlling interest in the new company and existing WWE shareholders will hold a 49% interest. “Together, UFC and WWE will have global reach, impressive scale and omnichannel distribution,” Endeavor said in a statement.

WWE and UFC parent Endeavor Group Holdings made things official in an SEC filing Monday morning, confirming their blockbuster merger into a combat sports colossus.

J. Kim Murphy World Wrestling Entertainment Inc. (WWE) is nearing a deal to be acquired by Endeavor Group Holdings Inc. Bloomberg was first to report on the ongoing acquisition deal. The report states that “no final decision has been made” and that negotiations could potentially fall through. The talks coincide as WrestleMania 39, one of the organization’s premier annual events, continues to unfold. The two-day pay-per-view and streaming extravaganza concludes Sunday evening, with more than 80,000 fans in attendance in Los Angeles. The WWE has been actively exploring an acquisition deal for some time now. Vince McMahon, the longtime public face and majority owner of the professional wrestling organization, returned to the company as executive chairman in January. McMahon had exited his WWE leadership role last year amid investigations into sexual misconduct allegations, leaving his daughter, Stephanie McMahon, to take on offices as chairman and co-CEO alongside Nick Khan, who previously served as the company’s president.

The WWE, which has been exploring a potential sale over the past few months, is in the process of being acquired by UFC parent Endeavor Group Holdings.

World Wrestling Entertainment has had plenty of dominant characters over the past 50 years, but Roman Reigns continues to set his own path.

Jem Aswad Senior Music Editor Universal Music Group announced on Wednesday that its Board of Directors has extended the contract of Lucian Grainge, the company’s chairman and CEO, until May 1, 2028. According to the announcement, the “extended and amended” agreement transitions Grainge from an all-cash compensation package to one that is a combination of equity and cash and includes an equity compensation program with “a broad set of performance-based objectives aligned with shareholders’ interest and corresponding to the company’s long-term growth strategy. To assure the compensation program is aligned with shareholders’ interest, the majority of the compensation package’s economic value will be paid in UMG equity and UMG performance-based stock options.” Grainge’s annual salary under the new agreement will be reduced by more than two-thirds from his current salary, to $5 million, the announcement continues. Subject to the achievement of performance criteria, he will be eligible for an annual bonus with a target of $10 million. The EBITA bonus from his prior employment agreement has been eliminated and Grainge will only be entitled to the contingent bonus under his prior employment agreement on a pro rata basis until March 31, 2023. The equity components of the program include annual grants of $20 million, comprised of as much as 50% Performance Share Units (PSUs) — with annual PSU goals set by the Board of Directors — and the remainder comprised of Restricted Share Units (RSUs). 

wcinkala pmc-editorial-manager Variety announced Thursday the programming for its second annual Miami Entertainment Town lunch, to be held on Thursday, April 13, in Miami. The event, in partnership with CN Bank, celebrates the growing entertainment and media industry based out of Miami and recognizes those profiled in Variety’s Miami Entertainment Impact Report. At the celebration, Ronald Day, President of Entertainment and Content Strategy for NBCUniversal Telemundo Enterprises, and Karen Barroeta, Executive Vice President of Production and Development Telemundo Global Studios, will participate in a keynote conversation with Rodrigo Nieto-Galvis, Entertainment Banking Team Leader at CN Bank Miami. The conversation will be centered around Telemundo’s strategy and around music and original programming based out of Miami.

Jackass star Bam Margera has been arrested after allegedly causing a scene at an LA restaurant while intoxicated.As TMZ reports Burbank police were called at 3.45pm on Wednesday (March 29) to a disturbance at a Thai restaurant where Margera’s estranged wife Nikki Boyd and their five-year-old son Phoenix were eating.As police arrived Margera was allegedly in a “dispute” with a woman while drunk, although it’s unclear whether the person involved was his estranged wife.Sources told the outlet that Margera was “unable to take care of himself and was arrested” for misdemeanour public intoxication.After the alleged incident footage circulated online showing Margera leaving the restaurant and being approached by officers.Earlier this month the Jackass star was arrested for domestic violence after a woman claimed that he kicked her.Boyd filed for legal separation from Margera last month after the pair quietly broke up in 2021. They have been married since 2013.She is requesting legal and physical custody of their son, spousal support, and for Margera to cover her legal fees.In a statement Boyd’s attorney David Glass said: “Nikki Margera felt compelled to file for legal separation from her husband, Bam Margera, due to his continuing drug and alcohol abuse, erratic behaviour, and due to his failure to provide support for her and their son.”In 2021 Margera entered a one-year drug and alcohol rehabilitation program.

Buckle up! Lala Kent spilled secrets about the intense Vanderpump Rules season 10 reunion taping amid rumors of a “brawl” breaking out on set.

Off the rails. As expected, Raquel Leviss and Tom Sandoval were in the hot seat at the Vanderpump Rules season 10 reunion — and things nearly got out of hand, a source exclusively tells Us Weekly.

Rebecca Rubin Film and Media Reporter “John Wick: Chapter 4” knocked down the box office competition, collecting a remarkable $73.5 million in its opening weekend. Boosted by positive reviews and enthusiastic word-of-mouth, the fourth installment in Lionsgate’s action series, led by Keanu Reeves as a legendary assassin, landed the best start of the franchise. It’s one of the rare original properties to keep growing and improving upon the last, in terms of box office ticket sales. The original “John Wick” opened to a modest $14 million in 2014, its sequel “John Wick: Chapter 2” took in $30.4 million to start in 2017, and the third film “John Wick: Chapter 3 – Parabellum” previously held the opening weekend record with $56.8 million in 2019. 

“John Wick 4” is bringing heat to the box office.

Todd Spangler NY Digital Editor Vince McMahon has paid WWE $17.4 million for costs the wrestling entertainment company incurred in investigating misconduct allegations against the exec. McMahon, WWE’s executive chairman and controlling shareholder, returned to the company in January after he “retired” from the company last year. WWE’s board had formed a special committee to look into allegations that he paid millions of dollars in hush money to multiple women to stay quiet about affairs and other misconduct. Under an agreement reached with the company, McMahon on March 23 paid WWE about $17.4 million, according to an SEC filing by WWE Friday. That was to reimburse the company “for the costs that have been incurred and paid by the company and/or its subsidiaries, through January 31, 2023, in connection with and/or arising from the investigation conducted by a special committee of the company’s board of directors,” as well as related revisions to the company’s financial statements and other related matters, WWE said.

Raise your glasses high, it’s reunion day! Tom Sandoval and Ariana Madix were spotted on Thursday, March 23, before filming the reunion for season 10 of Vanderpump Rules.

Jewel claims her that now-estranged mother stole millions upon millions of dollars from her as her career skyrocketed. While appearing on the "Verywell Mind" podcast, the singer spoke of her financial struggles and the huge debt she was saddled with after her mom's alleged embezzlement. "I didn't really realize what my mom was until I was 30-something. I woke up and realized she embezzled all of my money, over $100 million," Jewel said.