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Showing posts with label TKO Group Holdings. Show all posts
Showing posts with label TKO Group Holdings. Show all posts

August 11, 2023

Details On Endeavor Deal, WWE-UFC Merger And Plans For NXT

Following the news from earlier this week that the WWE-UFC merger under Endeavor is expected to close next month, Dave Meltzer's latest Wrestling Observer Newsletter offers up some additional details. The report states that layoffs and other efforts to save money are expected to begin within the company very soon. Additionally, Meltzer indicates that people within Endeavor are hoping to work with WWE to make NXT more of a "sustainable third brand."

The idea behind that is to increase the show's ratings, allowing it to bring in higher TV rights fees. According to Meltzer, the company hopes to make NXT a touring brand once again, with both live events and TV taped on the road. However, there is no timeline for when this will become a reality.

As for the previously discussed revival of "NXT U.K.," there is reportedly an idea for a full-time Performance Center in London, as well as the introduction of a new show focused on all of Europe. However, there will be no updates on that until at least next year.

WWE's stock price hit another record-high earlier this week, reaching $114 per share, giving the company a market valuation of nearly $8.5 billion. When the dust settles, the board of TKO will include six individuals from Endeavor and five from WWE. On the WWE side, that includes both Vince McMahon and current WWE CEO Nick Khan, as well as Steve Koonin, Nancy Teliem, and one more individual who has yet to be revealed.

In addition to remaining on the Board of Directors, Vince McMahon will own 16.4% of the stock for the new company, which will be called TKO. Stephanie McMahon will own 1.1% while Linda McMahon will have 0.3% of the company's stock. There was no word on how many shares Shane McMahon will own.

July 2, 2023

Triple H Says UFC Merger Slowed Down NXT Europe Plans

Triple H gave an update on their NXT Europe plans following Money in the Bank on Saturday. WWE announced last year the new brand would be coming in 2023 and speaking at the post-Money in the Bank press conference, Triple H said that the plans have shifted due to Endeavor’s purchase of WWE.

“It’s just slowed down the process I think,” he said (courtesy of Wrestling Inc). “At some point, end of the year, last year, whatever it is, we said in ’23 it would happen. Not having a crystal ball to see where everything was headed in that moment in time, obviously this transition with this merger with UFC with Endeavor and TKO, it’s changed the timeframe. But I think the intent is still the same.”

He continued, “I mentioned under the premise of WrestleMania and premium live events going global, we’re a global company. We’re looking to be everywhere. And I think … there are a lot of amazing talents here, internationally. And we’d love to explore that and give them opportunities to shine on the biggest stage possible and see what we can do with that. It’s just going to take a little bit of time.”

May 16, 2023

Merged UFC And WWE Will Reportedly Be Called TKO Group Holdings

The New Whale has been knocked out and a new, permanent name has been chosen for the soon-to-be-merged WWE and UFC hybrid company.

CNBC is reporting that what was temporarily known as New Whale Inc. will now be known going forward as TKO Group Holdings, with the TKO acronym meaning "technical knockout," paying homage to both UFC and WWE's shared combat sports lineages. While the two companies have an agreement to merge under this new name, WWE is still to be run by Vince McMahon out of its headquarters in Stamford, Connecticut, while UFC is still being run by Dana White out of its headquarters in Las Vegas, Nevada.

The new company will be listed on the New York Stock Exchange as TKO. The merger between the two companies will make TKO Group Holdings worth an estimated $20 billion.

Endeavor CEO Ari Emmanuel secured Chairman Vince McMahon to oversee WWE during negotiations with a new revision made to WWE's term sheet which says McMahon must remain in charge of the company until he either retires or is physically unable. McMahon was also granted five of the eleven seats on the WWE Board of Directors, as well as veto power. In exchange for the request to make McMahon executive chairman, WWE shareholders get a higher percentage of voting power under the new terms. Despite McMahon's newly cemented authority, Endeavor has been adamant that WWE Chief Content Officer Paul "Triple H" Levesque will continue to oversee the creative direction of the company.

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