Endeavor CEO Ari Emanuel announced that the World Wrestling Entertainment (WWE) will undergo a merger with Ultimate Fighting Championship (UFC) to form a new company in a 21 billion-dollar deal.
Endeavor Group Holdings, which is the parent company of UFC will have 51 percent of the company holdings, leaving 49% to WWE.
WWE chairman Vince McMahon and UFC's Dana White might also see a change in both their positions in the company. However, there is no official news about it.
The press release also stated that 11 members of the board of directors - 6 by UFC and 5 by WWE will be appointed at a later date. WWE is currently valued at $9.3 Billion while UFC which is owned by Endeavor is valued at $12.1 Billion.
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