Kemo
08-09-2023, 08:01 PM
https://i.imgur.com/42InI8j.jpg
The merger of WWE and UFC into TKO Group Holdings is expected to be finalized within a matter of weeks, Endeavor has claimed.
It was in April of this year that WWE announced that Endeavor would be acquiring WWE for the sum of $9.3 billion. Executive Chairman Vince McMahon returned to WEWE in January of this year to find a buyer for the promotion, despite the personal and professional scandals that led to his brief retirement in 2022. In an interview following the announcement, McMahon said was a great day for WWE and confirmed that he is finished appearing on TV as the evil Mr. McMahon character.
When the Endeavor deal was announced, which will see WWE and Endeavor's other company UFC merged into TKO Group Holdings, it was clarified that the deal was not expected to be finalized until later this year. In Endeavor's 2023 Q2 earning results, it is said that the “Transaction to combine UFC and WWE within TKO Group Holdings, Inc. is expected to close in mid-to-late September 2023."
During the call to investors, Endeavor CEO Ari Emanuel added that plans are already underway to make cost savings and 'synergies' happen immediately upon the deal being finalized, I.E. cuts. In April, WWE CEO Nick Khan floated the idea of making $50 million in "aggressive" cuts to WWE following UFC's merger. While it has been said that these cuts will not include talent, many remain skeptical of that claim.
The merger of WWE and UFC into TKO Group Holdings is expected to be finalized within a matter of weeks, Endeavor has claimed.
It was in April of this year that WWE announced that Endeavor would be acquiring WWE for the sum of $9.3 billion. Executive Chairman Vince McMahon returned to WEWE in January of this year to find a buyer for the promotion, despite the personal and professional scandals that led to his brief retirement in 2022. In an interview following the announcement, McMahon said was a great day for WWE and confirmed that he is finished appearing on TV as the evil Mr. McMahon character.
When the Endeavor deal was announced, which will see WWE and Endeavor's other company UFC merged into TKO Group Holdings, it was clarified that the deal was not expected to be finalized until later this year. In Endeavor's 2023 Q2 earning results, it is said that the “Transaction to combine UFC and WWE within TKO Group Holdings, Inc. is expected to close in mid-to-late September 2023."
During the call to investors, Endeavor CEO Ari Emanuel added that plans are already underway to make cost savings and 'synergies' happen immediately upon the deal being finalized, I.E. cuts. In April, WWE CEO Nick Khan floated the idea of making $50 million in "aggressive" cuts to WWE following UFC's merger. While it has been said that these cuts will not include talent, many remain skeptical of that claim.