WWE and UFC parent company The Endeavour Group will merge together to form a new company.

The announcement was made via press release on Monday April 3rd. In regards to ownership, it has been announced that Endeavour will have 51% ownership, with WWE shareholders making up the remaining 49%.

Ariel Emanuel, who is the CEO of Endeavour, has said the following regarding the merger:

“This is a rare opportunity to create a global live sports and entertainment pureplay built for where the industry is headed. For decades, Vince and his team have demonstrated an incredible track record of innovation and shareholder value creation, and we are confident that Endeavor can deliver significant additional value for shareholders by bringing UFC and WWE together.”

Vince McMahon, who will remain as Executive Chairman of the Board, has also praised the move and the success of the UFC owners in recent years:

“Given the incredible work that Ari and Endeavor have done to grow the UFC brand – nearly doubling its revenue over the past seven years – and the immense success we’ve already had in partnering with their team on a number of ventures, I believe that this is without a doubt the best outcome for our shareholders and other stakeholders,”

The announcement comes less than 12 hours after WrestleMania 39 concluded, with Brock Lesnar and Omos opening the show

The press release reveals the transactional value of each company, with Endeavour being valued at $12.1 billion and WWE valued at $9.1 billion.

The hierarchy of the new unnamed company has been revealed, with Emanuel leading the company while remaining as CEO of Endeavour. Vince McMahon will also have a leadership role while continuing in WWE, with Mark Shapiro being the COO of both Endeavour and the new company. Nick Khan will serve as the president of WWE.

The new company name will be announced in the future, with the merger being announced as TKO on the New York Stock Exchange.

Featured image: BSM