August 9th 2023.
Roman Reigns is the current world champion and the future of WWE is looking even brighter with the news that Endeavor is expecting to complete its acquisition of WWE in a matter of weeks.
In its second quarter earnings report for the year, Endeavor officially announced that the pending takeover is expected to close in mid to late September. This is a major update from its previous guidance, which had simply pointed to the deal closing at some point in the second half of 2023.
Endeavor will own a 51% stake in the new company, while WWE shareholders will have the remaining 49%. The company will be worth a staggering $21.4billion and will see Endeavor CEO Ari Emanuel serve as the CEO, while WWE’s controlling shareholder Vince McMahon will be executive chairman.
At the time of the announcement, Vince McMahon made a statement saying: “Given the incredible work that Ari and Endeavor have done to grow the UFC brand... I believe that this is without a doubt the best outcome for our shareholders and other stakeholders. Together, we will be a $21+ billion live sports and entertainment powerhouse with a collective fanbase of more than a billion people and an exciting growth opportunity.”
McMahon added that he was looking forward to ‘working closely’ with Emanuel, as well as the teams at Endeavor and UFC, so that they can all take their businesses ‘to the next level’.
Meanwhile, WWE is currently in the midst of negotiating new rights deals in the United States for both of its flagship Raw and SmackDown shows, which currently air on the USA Network and Fox respectively. With the new company in place, WWE can now look to maximize the value of their media rights, enhance sponsorship monetization, develop new forms of content and pursue other strategic mergers and acquisitions to further bolster their strong stable of brands.
This is an exciting time for WWE fans, with the potential to become an even more powerful force in the world of live sports and entertainment. With the new company in place, WWE can look forward to a brighter future.
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