Alkass Digital
The WWE and Endeavor, the company that runs the UFC, are official as TKO, a new $21.4 billion sports entertainment company.
Executives from TKO rang the opening bell at the New York Stock Exchange on Tuesday to signal the start of the new publicly traded company that houses the UFC and WWE brands. Endeavor Group Holdings Inc. has a 51 percent controlling interest in the new company. Existing WWE shareholders hold a 49 percent stake.
The new business will be lead by Endeavor CEO Ari Emanuel. Vince McMahon, executive chairman at WWE, will serve in the same role at the new company and reportedly controls more than 16 percent of the voting stock and overall interest in TKO. UFC president Dana White now has the title of CEO, though his role is expected to largely remain the same as its been. Current WWE CEO Nick Khan will be the president of the pro wrestling brand.
Those on hand in New York included Emanuel, McMahon, White, Paul Levesque (“Triple H”) and former dual UFC champion Daniel Cormier.