Endeavor Announces Close of UFC® And WWE® Transaction To Create TKO Group Holdings, A Premium Sports And Entertainment Company

Endeavor Announces Close of UFC® and WWE® Transaction to Create TKO Group Holdings, a Premium Sports and Entertainment Company

New Company to Begin Trading Today, September 12, on the New York Stock Exchange Under “TKO” Ticker Symbol

BEVERLY HILLS, Calif. & STAMFORD, Conn.--(BUSINESS WIRE)--Endeavor Group Holdings, Inc. (NYSE: EDR) (“Endeavor”) and World Wrestling Entertainment, Inc. (previously NYSE: WWE) (“WWE”) today announced the close of their previously announced agreement and the launch of TKO Group Holdings, Inc. (NYSE: TKO) (“TKO”).

TKO brings together UFC, the world’s premier mixed martial arts organization, and WWE, an integrated media organization and the recognized global leader in sports entertainment, to create a new premium sports and entertainment company serving more than one billion young and diverse fans1, reaching viewers in 180 countries, and producing more than 350 annual live events. Through this combination, TKO will leverage Endeavor’s expertise in areas including domestic and international media rights, ticket sales and yield optimization, event operations, global partnerships, licensing, and premium hospitality to drive revenue growth.

“The creation of TKO marks an exciting new chapter for UFC and WWE as leaders in global sports and entertainment,” said Ari Emanuel, CEO of Endeavor and TKO. “Given their continued connectivity to the Endeavor network, we are confident in our ability to accelerate their respective growth and unlock long-term sustainable value for shareholders. With UFC and WWE under one roof, we will provide unrivaled experiences for more than a billion passionate fans worldwide.”

“This is the culmination of a decades-long partnership between Endeavor and WWE across strategic initiatives including talent representation and media rights. Given our collaborative, trusted relationship and Endeavor’s incredible track record of success growing UFC, we believe WWE is optimally positioned for future growth and success as part of TKO,” said Vince McMahon, Executive Chairman of TKO. “Our focus remains on delivering for our fans across the globe as we take the business to the next level alongside UFC and Endeavor.”

TKO will begin trading today on the New York Stock Exchange under the ticker symbol “TKO,” with Endeavor holding a 51% controlling interest in the new company and existing WWE shareholders holding a 49% interest in the new company, on a fully diluted basis.

As previously announced, TKO is led by:

Ariel Emanuel, Chief Executive Officer, who continues as Chief Executive Officer of Endeavor;

Mark Shapiro, President and Chief Operating Officer, who continues as President and Chief Operating Officer of Endeavor;

Andrew Schleimer, Chief Financial Officer; and

Seth Krauss, Chief Legal Officer, who continues as Chief Legal Officer of Endeavor.

Dana White is now Chief Executive Officer of UFC and Lawrence Epstein remains Senior Executive Vice President and Chief Operating Officer of UFC. Nick Khan continues at WWE in the role of President.

The Board of Directors of TKO is led by Vince McMahon as Executive Chairman of the Board and consists of 11 members, including Mr. Emanuel, Mr. Shapiro, and Mr. Khan, in addition to the following directors:

Peter C.B. Bynoe, Senior Advisor at DLA Piper LLP;

Egon P. Durban, Co-Chief Executive Officer of Silver Lake;

Steven R. Koonin, Chief Executive Officer of the Atlanta Hawks, LLC;

Jonathan A. Kraft, President of the Kraft Group LLC;

Sonya E. Medina, President and Chief Executive Officer of Reach Resilience;

Nancy R. Tellem, Executive Chairperson and Chief Media Officer of Eko; and

Carrie Wheeler, Chief Executive Officer and a board member of Opendoor Technologies Inc.

End Of An Era

Tonight's WWE Raw will be the last WWE show under the full majority control of Vince McMahon. End of an era.

UFC And WWE To Close Merger Next Week, Make NYSE Debut As TKO Group

UFC parent Endeavor Group and World Wrestling Entertainment said today they expect to close the planned merger of UFC and WWE on September 12. That’s on the earlier end of expectations as Endeavor said in August it expected the deal to close in mid-to-late September.

Endeavor and WWE announced a deal last spring for the Ari Emanuel-led company to take control of WWE and merge it into a new, stand-alone entity with UFC. The professional wrestling and mixed martial arts powerhouse will be called TKO Group Holdings and trade on the New York Stock Exchange. Valued at $21 billion, TKO will be a subsidiary of Endeavor, with 51% control. WWE (Raw, SmackDown) will control 49%.

Emanuel will be CEO. continue as president of UFCVince McMahon, WWE’s longtime leader, executive chairman and major shareholder, who orchestrated the deal with Endeavor, was set as executive chair of the new company’s board.

In early August, WWE announced federal law enforcement agents had executed a search warrant and served a federal grand jury subpoena on McMahon although no charges had been brought. WWE CEO Nick Khan also said then that McMahon was on a medical leave of absence until further notice following spinal surgery. launched an internal probe of McMahon in 2022 to investigate allegations of payments to women, which it found had totaled close to $20 million and that caused it to revise several quarterly financial statements. The probe wrapped up last November and McMahon paid the company $17.4 million for costs incurred.

source:  deadline.com

CM Punk fired from AEW after altercation with Jack Perry

AEW has released an announcement effective immediately about the termination of CM Punk from AEW. This comes following controversial situations involving Jack Perry, The Young Bucks, Kenny Omega, and others.

You can read the full announcement below.

STATEMENT FROM ALL ELITE WRESTLING AND TONY KHAN

All Elite Wrestling (AEW) has terminated the wrestler and employment agreements between Philip Brooks (CM Punk) and AEW with cause, effective immediately. The termination was confirmed today by Tony Khan, CEO, General Manager and Head of Creative of AEW.

The termination follows a weeklong internal investigation of an incident occurring backstage at AEW – All In London on Sunday, August 27. Following the investigation, the AEW Discipline Committee met and later convented with outside legal counsel before making a unanimous recommendation to Khan that CM Punk be terminated with cause.

Khan offered the following statement:

“Phil played an important role within AEW and I thank him for his contributions. The termination of his AEW contracts with cause is ultimately my decision, and mine alone. Of course, I wish I didn’t have to share this news, which may come as a disappointment to many of our fans. Nevertheless, I am making the decision in the best interests of the many amazing people who make AEW possible every week – our talent, staff, venue operators and many others whose efforts are unsung but essential to bringing our fans great shows on television and at arenas and stadiums throughout the world.”

Tensions erupted between CM Punk and Jack Perry backstage at All Elite Wrestling's All In London event on Sunday, August 27, just before Punk's scheduled bout with Samoa Joe. While conflicting stories exist about the specific details of the clash, it's confirmed that both wrestlers had been temporarily suspended as AEW looks into the incident which now seems to have concluded.

The dispute was fueled by Jack Perry's comment, "It's real glass, go cry me a river," which he made during his Zero Hour match against HOOK. Perry pointed to a limousine's windscreen that he would later be slammed through. This jab was directed at CM Punk and pertained to a previous argument the two had about glass during an AEW Collision taping earlier in the summer. Perry reportedly felt that insiders close to Punk, who leaked the argument, aimed to publicly humiliate him.

Souece: WrestlingNewsSource.Com

NFL partners with WWE on officially licensed championship belts

A WWE championship belt featuring your team’s name and logo can be yours, if you’ve got nothing better to spend $550 on.

The NFL and WWE announced today that they’ve partnered on a multi-year licensing deal to sell NFL-inspired WWE title belts featuring the official colors, names, logos and branding of all 32 NFL teams.

The belts are already for sale through the NFL’s and WWE’s merchandising sites. The price is $549.99.

This deal is the first-ever licensing agreement between the NFL and the WWE.

source:  nbcsports.com

WWE Star Bray Wyatt Dead At 36

WWE superstar Bray Wyatt, whose real name is Windham Rotunda, has died, WWE Chief Content Officer Paul "Triple H" Levesque announced on social media Thursday. Wyatt was 36.

"Just received a call from WWE Hall of Famer Mike Rotunda who informed us of the tragic news that our WWE family member for life Windham Rotunda - also known as Bray Wyatt - unexpectedly passed earlier today," Levesque wrote on X, the company formerly known as Twitter. "Our thoughts are with his family and we ask that everyone respect their privacy at this time."

The news of Wyatt’s death was a shocking and devastating revelation as a report surfaced earlier this month that the former champion was nearing a return to the ring after battling a "life-threatening illness."

Earlier in the year, Wyatt got COVID that exacerbated a heart issue. He suffered a heart attack. Pro wrestlers and fans sent their condolences across social media.

Back in October, Wyatt had made a return to the WWE in one of the most mysterious build-ups the company had done in a while. A white rabbit, mystery QR codes and other messages appeared on WWE programming leading up to Wyatt’s eventual return at Extreme Rules. The hints pointed toward his return about 15 months since he was released in July 2021.

Wyatt’s "Fiend" character was among the favorite programs that WWE ran in recent years. WWE was able to make the character thrive through the height of the coronavirus pandemic, and he was put into epic feuds with John Cena and Randy Orton.

Wyatt’s cult leader character was also well-received when it began in 2013. However, Wyatt was released on July 31, 2021. His release marked the end of a 12-year run at WWE.

After his return on the premium live event, Wyatt cut a heartfelt promo thanking fans for welcoming him back and helping him through the tough times after his release.

"I am incredibly grateful. I’m really, really nervous to be here. I never thought this would happen," Wyatt said. "This right here, this is just me OK? This is a version of me I never got to introduce to you guys before. This is just me being me – genuine me – for the first time."

Wyatt explained at the time that over the last year, he lost a lot of friends and things in his life.

"I lost my career. I lost my self-confidence. I lost two people who were very, very close to me. I lost my way," he said. "And I got to a point where I thought that everything that I’ve ever done here or otherwise, it was all meaningless. Nothing I’ve ever did has ever mattered to anyone. And I was wrong.

"Once I was done feeling sorry for myself, I decided to go out in the world again and see … people everywhere that would say, ‘Thank you Bray, man. When you coming back home?’ And then every once in a while there would be someone I would meet that would be truly remarkable, and you know who you are. But these people they would come to me. They would come to me, and they would say, ‘Bray, I just wanted to thank you, man, because I was in a time of need, and I lost people that were close to me, and I lost my self-confidence, and I felt weak, and I felt vulnerable, and in this weakened state I found your words, Bray. I found your words, and I just wanted to thank you, man. You saved my life, Bray.’

"The truth is, I don’t think about stuff like that. And the thing about that is, is that I can sit here right now today, and I can look all of you in the eyes, and I can say you were there when I was weak, when I was vulnerable, when I was down, and I just wanted to say, ‘Thank you, you all saved my life.’"

Wyatt feuded with LA Knight, which culminated in a Pitch Black match at Royal Rumble. He was set to start a program with Bobby Lashley before he reportedly fell ill.

He was angled for a September return before his unexpected death, according to Fightful Select.

Wyatt had two daughters with his ex-wife and a son and daughter with former WWE announcer JoJo Offerman. His father, Mike Rotunda, was known in the WWE as Irwin R. Schyster (IRS).

Wrestling Legend Terry Funk Dead At 79

WWE wrestling icon Terry Funk has died at age 79, his manager Timothy Beal confirmed to CBS News Wednesday. His cause of death was not immediately released, but Beal said that Funk "was in bad health for some time" and was "in a nursing home."

Funk's death was also confirmed in a statement by the WWE. 

For Funk, wrestling was a family affair. Growing up in in Amarillo, Texas, his father, Dory Funk, Sr., was a professional wrestler, and he started out as a tag-team wrestler with his brother Dory Funk, Jr., according to his WWE biography.

Funk broke out as a wrestling star in the 1980s when he appeared in a tag team with his brother at WrestleMania 2. He then competed singularly throughout the U.S. and in Japan over the course of his 50-year career, the WWE said. 

He was inducted into the WWE Hall of Fame with his brother in 2009. His final wrestling match was in 2017. 

Funk was also known for his breakout roles in Hollywood films. He appeared in "Roadhouse" with Patrick Swayze, "Paradise Alley" and "Over the Top."

TAMMY SYTCH FACING UP TO 25 YEARS IN PRISON... After Pleading No Contest To DUI Causing Death

Former WWE Diva Tammy Sytch just pleaded no contest to a felony charge of DUI causing death ... and she's now facing a prison sentence of up to a quarter of a century, TMZ Sports has learned.

The 50-year-old wrestling Hall of Famer was first hit with the count -- and seven others -- back in May 2022 ... after officials alleged she killed a 75-year-old man during a drunken car crash just two months prior.

Sytch had initially pleaded not guilty to all of the charges ... but changed her pleas in a Volusia County courtroom on Wednesday afternoon -- days before the case was slated to go to trial.

According to court documents, in addition to the plea to felony DUI causing death, she also pleaded no contest to one felony charge of driving with license suspended causing death, four misdemeanor counts of DUI with damage to a person, and two misdemeanor charges of DUI with damage to property.

A sentencing hearing for Sytch has not yet been put on the docket ... though, according to court docs, she's facing a maximum sentence of 25 years behind bars whenever it comes up.

Sytch has been in jail since May 2022 in the case ... after prosecutors claimed she crashed her car into the back of another vehicle on a Florida road in March 2022 while it was stopped at a traffic light. The officials alleged at the time of the accident she had a blood alcohol content of .08 or higher.

Sytch had at first received bond in the case, but days later, she was thrown back in jail after prosecutors called her a danger to the community.

The case was not the first time Sytch had been accused of drinking and driving -- she had also been arrested at least six times for impaired driving before, including back in 2019 in New Jersey.

The former wrestling personality was also jailed last year for allegedly threatening to kill a man with scissors.

source: tmz.com

WWE Admits That Stephanie McMahon Spoke With Tubi Executive, Denies MLW’s Claim

WWE has formally denied allegations made against the company by Major League Wrestling after MLW filed an antitrust lawsuit against WWE in 2022. The lawsuit, which has since been amended and filed again after being dismissed last year, stemmed from MLW's claims that WWE prevented it from competing in the streaming market. MLW alleged that WWE pressured third parties to abandon contracts and prospective relationships with the company.

Wrestlenomics' Brandon Thurston posted a portion of new court filings to Twitter on Monday. In the documents, WWE denied the allegations. but did confirm that Stephanie McMahon spoke with a Tubi executive in August 2021. The filing denies that she pressured the streaming platform to kill a deal with MLW. The full court document can be seen online.

MLW's lawsuit alleges that Stephanie McMahon pressured the Tubi executive to "deny MLW a time slot that would compete head-to-head with WWE's NXT programs on Tuesday nights." It goes on to say "WWE threatened Tubi's affiliate, Fox, that it could lose WWE's business or preferred content if Tubi didn't acquiesce to WWE's demand and terminate its agreement with MLW." WWE formally denied these accusations.

There's no end in sight for the legal battle between WWE and MLW. According to the new filing, WWE has demanded a jury trial on "all issues so triable" in the Northern District of California where the antitrust lawsuit was filed.

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.

Triple H: Vince McMahon Is Not Currently Involved With WWE Creative Day-To-Day

WWE Chief Content Officer Triple H says Vince McMahon is not involved with WWE creative day-to-day.

McMahon reportedly had major spinal surgery in late July. Sean Ross Sapp of Fightful Select reported that it was unclear whether the surgery would affect McMahon’s work. McMahon had reportedly been making changes to WWE shows from a remote location in recent months.

During the WWE SummerSlam post-show press conference, Brandon Thurston of Wrestlenomics asked Triple H about Vince McMahon’s current contribution to creative. He also asked what extent McMahon recovery will impact his ability to contribute. Triple H noted that he wasn’t sure how long McMahon’s recovery would take. He also highlighted McMahon’s legacy.

“As far as the surgery, I’m not a doctor,” Triple H said. “I can’t tell you how fast that recovery will be. If I’m a guessing man, I’ve seen Vince come back from some remarkable things way faster than anybody else I’ve ever seen do it. He still brags that he was back quicker from two quad tears than I was from one. So how long that it, I don’t know.

“As far as contributions, I would just say this. The reason WWE is what it is, the reason this business, not just WWE, because you could make an argument that without Vince and his vision for this business, maybe it wouldn’t be here anymore. There was some things at that time back in the day that were very popular that just disappeared off the face of the planet. Vision of what he did changed the business, changed all of it for 50 years. Incredible run of success. No greater mind in the business.”

Triple H continued by noting that it would be silly not to ask for “counsel” from McMahon. However, he stated that McMahon is not involved with WWE creative on a day-to-day basis.

“At this point, if all of us didn’t look at moments in time for counsel from him on thoughts or ideas or if we had a question to go to him and ask, we’d be silly not to,” Triple H said. “It’s sitting next to somebody that knows more about this, it has forgotten more about this, than you’ll ever know, and to not utilize that in some aspect. But is he day-to-day? No. Is he in it all the time? No. If anybody has, he’s earned that right to be able to do that.”

IMPACT Wrestling's 1,000th Episode Celebration to Feature Return of Beautiful People and Awesome Kong

Next month, Impact is gearing up to record its 1,000th episode, and excitingly, the lineup for the special event includes the appearances of Beautiful People and Awesome Kong.

In an announcement made on social mieda, the promotion revealed that these former Knockouts will be making their return during the taping, scheduled for September 9th in White Plains, New York. Comprising Angelina Love and Velvet Sky, The Beautiful People boast an impressive history as former Knockouts Champions and Knockouts Tag Team Champions. Adding to the anticipation, Awesome Kong, who holds the title of former Knockout Champion and was also honored with an induction into the Impact Wrestling Hall of Fame in 2021, will be part of this momentous occasion.