WWE and UFC Agree to Massive Merger Creating $21 Billion Company
World Wrestling Entertainment (WWE) and Ultimate Fighting Championship (UFC) have agreed to merge and create a newly combined wrestling entertainment company.
The new entity will be called “NewCo,” until it is named at a later date, and will be listed on the New York Stock Exchange as TKO.
WWE and Endeavor, the parent company of UFC, officially announced on April 3 that the newly publicly traded company is expected to have a net worth value of more than $21 billion.
CNBC first reported on the finalization of potential merger agreement on the afternoon of April 2, after months of speculation.
TKO, which will house both WWE and UFC, will have a 51/49 control split in favor of Endeavor….