The biggest name in professional wrestling, WWE, has been bought by the parent company of UFC, the biggest name in mixed martial arts, Endeavor Group Holdings. Together, they will merge to make a new publicly-traded company and what may be the biggest sports-entertainment entity in the world.

Endeavor CEO Ari Emanuel will still serve as the CEO, as he continues with the same role with the addition of another company in WWE. However, WWE executive chairman and majority shareholder Vince McMahon will serve as executive chairman of the newly created firm.

According to the Hollywood Reporter, Endeavor will hold a 51 percent controlling interest in the new company, while current WWE shareholders will own a 49 percent interest.

The WWE and the UFC will still be doing their own shows, as Dana White will still continue in his role as UFC president, while current WWE CEO Nick Khan will soon be holding the president title as White. The board of directors will have 11 members, with six coming from Endeavor and five coming from WWE.

The deal is reportedly expected to close within the second half of 2023, with Endeavor CEO Ari Emanuel saying, "This is a once-in-a-lifetime opportunity to bring together two leading pureplay sports and entertainment companies." He describes this new firm as a "$21 billion-plus" juggernaut.

Vince McMahon and Dana White's Respective Situations in WWE and UFC

The two companies will have a combined asset value of $21 billion as the firm is planning to make the UFC-WWE conglomerate a publicly traded company in the next four to six months. However, the biggest question remains, what will Vince McMahon and Dana White do after the merger?

According to MMA Fighting, Emanuel promised that both the WWE and the UFC will have autonomy when it comes to day-to-day business. This includes creative control over each brand, with any disagreement being handled in-house.

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Emmanuel and McMahon sat down for an interview with CNBC on Monday, with the Endeavor CEO stating, "Dana's got the say as it relates to the UFC, Vince as it relates to the WWE. He's going to have the say. We have nothing to do with the creative process. That's Vince's and that's Dana's situation."

"All the back stuff, we're going to try and do what we do. I think that's what he wants, but if there's a disagreement, that's called a relationship. We will work it out and that's how we have it," he said in the interview.

Endeavor CEO Asked Vince McMahon to Stick Around

The merger means that this will be the end of WWE being a family business for the McMahons, who have run the wrestling promotion for generations, starting with Vince's father, Vince McMahon Sr.

However, Emmanuel stated that he asked Vince McMahon Jr. to stay with the combined company as executive chairman. The wrestling mogul stated that he did not have to be convinced to stick around as the WWE had been a family business for decades.

"It's a great day," said McMahon. "Things have to evolve. Family businesses have to evolve for all the right reasons."

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This article is owned by Latin Post.

Written by: Rick Martin

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