Times are changing. It had been previously reported that WWE has been in talks to sell the company over the past few months. According to a new report from CNBC, WWE is planning to make a sale, with a deal announced as early as Monday.
From the report:
The company is said to be in advanced talks to be sold to Ari Emanuel’s Endeavor Group, which is also the parent company of UFC. UFC and WWE are expected to form a new publicly traded company as part of the agreement, according to the people, who declined to be named due to the confidential nature of the discussions.
Furthermore, Endeavor is slated to own 51% of the new combat sports and entertainment company, while WWE shareholders would get 49%, according to the people. The Endeavor deal gives WWE an enterprise value of $9.3 billion, they said.
Emanuel, a media executive, is expected to act as chief executive of both Endeavor and the new company. McMahon, likewise, is expected to be executive chairman, while Endeavor President Mark Shapiro will also work in the same role at the new company. Dana White will remain as president of UFC, while WWE CEO Nick Khan will serve as president of the wrestling business.
Vince McMahon had recently returned to the company, with his primary role being to oversee the sale of WWE.
Editor’s Opinion:
Wow. I had forgotten that a sale was coming, but to have it take place right after WrestleMania weekend is huge. To be fair, this is probably the best time to announce a sale as the Raw after WrestleMania is usually the beginning of the next calendar year for WWE. It’s an opportunity to hit the reset button on many different fronts, including introducing new storylines, as WrestleMania tends to be the culmination of many of the company’s main stories. It will be interesting to see what happens with this going forward!
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