Vince McMahon’s WWE deal nears to merge with UFC owner’s Endeavor group: report

Vince McMahon’s WWE deal nears to merge with UFC owner’s Endeavor group: report

Vince McMahon's WWE deal nears to merge with UFC owner's Endeavor group: report

World Wrestling Entertainment (WWE), the popular professional wrestling promotion company known for its wrestling shows and live events, is reportedly set to be acquired by Endeavor Group, the parent company of Ultimate Fighting Championship (UFC ). The longtime wrestling promoter, which is owned by the McMahon family and controlled by 77-year-old Vince McMahon for decades, is expected to become part of the Endeavor Group following the acquisition.

According to CNBC’s report details, Endeavor will hold 51% ownership of the new organization, while WWE shareholders will hold the remaining 49%.

WWE has reportedly been looking for a buyer for the company for some time now, with Endeavor appearing to be the most likely to complete the acquisition. Vince McMahon resigned as CEO and Chairman of WWE in June 2022 following a series of sexual misconduct allegations, but returned as Executive Chairman in January 2023 to oversee the sale process. of WWE. With the deal still to be completed, WWE will finally transition from a family business to a business venture that is part of a larger holding group.

Endeavor Group is the owner of mixed martial arts promotion company Ultimate Fighting Championship (UFC), which was founded in 1993. The combined company will be among the largest in the world in its field of fight-based entertainment.

Although WWE – formerly known as the World Wrestling Federation (WWF) – was founded by Vince McMahon’s father, the current 77-year-old executive chairman is credited with building the company into a franchise. world that includes not only TV shows and live events around the world, but also merchandise, movies, music, toys and video games through various operations and licensing agreements. While WWE is currently valued at nearly $7 billion (approximately Rs. 57,600 crore) based on share price, acquisition by Endeavor would give it a business valuation of $9.3 billion (approximately Rs. 76,600 crore).

In India, WWE content airs on Sony Liv. The wrestling promotion franchise has led to the rise and fame of global celebrities such as Dwayne ‘The Rock’ Johnson and Dave Bautista, as well as the success of popular video games based on his personalities, including the recent WWE 2K23 from the current WWE 2K series.

From smartphones with rollable screens or liquid cooling, to compact AR glasses and handsets that can be easily repaired by their owners, we discuss the best devices we saw at MWC 2023 on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify , Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
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