At the same time, Endeavor Group Holdings will receive a 51 percent controlling stake in the new company, and 49 percent will remain with existing WWE shareholders. The combined company is valued at $21.4 billion, of which $12.1 billion is from the UFC and $9.3 billion from WWE.
The new business will be led by Endeavor CEO Ari Emanuel, WWE CEO Vince McMahon will fill the same role in the newly formed company, and Dana White will remain UFC president.
In addition to Endeavor, companies such as Disney, Fox, Comcast, Amazon, as well as the Saudi Arabia Public Investment Fund showed interest in buying WWE.
WWE reportedly generated $1.3 billion in revenue last year. After the official announcement of the deal, Endeavor shares rose 3%.