Endeavor Group is to finalises the merge with its subsidiary company Ultimate Fighting Championship (UFC) World Wrestling Entertainment (WWE) and UFC on September 12.The pro-wrestling franchise is to combine with the martial arts outfit to form TKO Group Holdings (TKO).Once the merge is completed by September 12, the company said TKO will list on the New York Stock Exchange and will begin public trading.Endeavor acquired the UFC in 2016; it announced the agreement with WWE to combine with the leading MMA organisation in April. The LA-based talent group said the deal will create a “$21+ billion live sports and entertainment powerhouse”.Endeavor will hold a 51% controlling interest in the new company and existing WWE shareholders will hold a 49% interest. The transaction values UFC at an enterprise value of $12.1bn and WWE at $9.3bn.The sports giant will be led by Endeavor CEO Ari Emanuel, who will retain his current position, and Vince McMahon, who was executive chairman of the board.Mark Shapiro will be president & COO of both Endeavor and TFO, with Dana White continuing in his role as president of UFC and Nick Khan serving as president of WWE.UFC and WWE expects to deliver an estimated $50m-$100m in synergies by using Endeavor’s back office.The board of directors are yet to be appointed which will consist of 11 members, six of whom will be appointed by Endeavor and five of whom by WWE.
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