Sports and entertainment group Endeavor and World Wrestling Entertainment have closed a deal to bring the sports entertainment property and the UFC mixed-martial-arts event organiser under the TKO Holdings umbrella.
Endeavor has a 51% shareholding in the new publicly listed entity, which will act as an umbrella for the properties, with WWE holding the remaining 49% stake.
TKO, which began trading on the New York Stock Exchange yesterday (Tuesday), will produce more than 350 live events per year.
A statement outlined that TKO will “leverage Endeavor’s expertise” in areas such as ticket sales, event operations and premium hospitality “to drive revenue growth”.
“The creation of TKO marks an exciting new chapter for UFC and WWE as leaders in global sports and entertainment,” said Endeavor chief executive Ariel Emanuel, who has also been installed as CEO of 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.”
UFC’s next event will take place this weekend at T-Mobile Arena in Las Vegas.
Endeavor and WWE announced that they had entered into a definitive agreement back in April.