The WWE and the UFC are officially tag team partners.
Endeavor’s new company is named The TKO Group.
TKO will begin trading today on the New York Stock Exchange under the ticker symbol “TKO,” with Endeavor holding a 51% controlling interest in the new company and existing WWE shareholders holding a 49% interest in the new company.
“This is the culmination of a decades-long partnership between Endeavor and WWE across strategic initiatives including talent representation and media rights. Given our collaborative, trusted relationship and Endeavor’s incredible track record of success growing UFC, we believe WWE is optimally positioned for future growth and success as part of TKO,” said Vince McMahon, Executive Chairman of TKO. “Our focus remains on delivering for our fans across the globe as we take the business to the next level alongside UFC and Endeavor.”
“The creation of TKO marks an exciting new chapter for UFC and WWE as leaders in global sports and entertainment,” said Ariel Emanuel, CEO of Endeavor and TKO. “Given their continued connectivity to the Endeavor network, we are confident in our ability to accelerate their respective growth and unlock long-term sustainable value for shareholders. With UFC and WWE under one roof, we will provide unrivaled experiences for more than a billion passionate fans worldwide.”
WWE President Nick Khan sent out this message to WWE employees today:
“This morning, we announced that WWE and the UFC have officially come together to form TKO Group Holdings, creating a new premium sports and entertainment company. TKO will begin trading today on the New York Stock Exchange under the ticker symbol “TKO.”
A big thank you to all of you for the hard work and commitment that helped us achieve this milestone.
As we now begin this transition, we will be in touch with more details. In the interim, we will be communicating with each of you regarding new policies and procedures. HR will also be available to answer any and all questions you may have.
We know when companies undergo change it can feel like uncertain times. The special culture that WWE has cultivated over its long history is what has allowed our business to flourish and we will be preserving that as WWE and UFC both continue to grow together as part of TKO.
As always, well continue to focus on the work throughout this transition and make sure to communicate with all of you throughout the process. Thank you, Nick Khan.”
TKO is led by:
- Ariel Emanuel, Chief Executive Officer, who continues as Chief Executive Officer of Endeavor;
- Mark Shapiro, President and Chief Operating Officer, who continues as President and Chief Operating Officer of Endeavor;
- Andrew Schleimer, Chief Financial Officer; and
- Seth Krauss, Chief Legal Officer, who continues as Chief Legal Officer of Endeavor.
Dana White is now Chief Executive Officer of UFC and Lawrence Epstein remains Senior Executive Vice President and Chief Operating Officer of UFC. Nick Khan continues at WWE in the role of President.
The Board of Directors of TKO is led by Vince McMahon as Executive Chairman of the Board and consists of 11 members, including Mr. Emanuel, Mr. Shapiro, and Mr. Khan, in addition to the following directors:
- Peter C.B. Bynoe, Senior Advisor at DLA Piper LLP;
- Egon P. Durban, Co-Chief Executive Officer of Silver Lake;
- Steven R. Koonin, Chief Executive Officer of the Atlanta Hawks, LLC;
- Jonathan A. Kraft, President of the Kraft Group LLC;
- Sonya E. Medina, President and Chief Executive Officer of Reach Resilience;
- Nancy R. Tellem, Executive Chairperson and Chief Media Officer of Eko; and
- Carrie Wheeler, Chief Executive Officer and a board member of Opendoor Technologies Inc.