Endeavor Group Holdings, Inc. (NYSE: EDR) (“Endeavor”) and World Wrestling Entertainment, Inc. (formerly NYSE: WWE) (“WWE”) are thrilled to announce the successful completion of their previously disclosed agreement, marking the official launch of TKO Group Holdings, Inc. (NYSE: TKO) (“TKO”).

TKO unites two major players in the sports and entertainment world: UFC, the globally acclaimed mixed martial arts organization, and WWE, a multimedia powerhouse and the undeniable leader in sports entertainment on a global scale. Together, they form a dynamic new premium sports and entertainment entity that serves an impressive audience of over one billion diverse and youthful fans worldwide, spanning across 180 countries. TKO is set to host more than 350 annual live events and, through this partnership, will harness Endeavor's expertise in various domains, including domestic and international media rights, ticket sales, event operations, global partnerships, licensing, and premium hospitality to drive revenue growth.

Ariel Emanuel, CEO of Endeavor and TKO, expressed, “The establishment of TKO heralds an exciting new era for UFC and WWE, both as leaders in the world of global sports and entertainment. With their deep connections within the Endeavor network, we are confident in our ability to accelerate their individual growth trajectories and unlock lasting value for our shareholders. With UFC and WWE under one roof, we are poised to offer unparalleled experiences to more than a billion enthusiastic fans worldwide.”

Vince McMahon, Executive Chairman of TKO, added, “This moment signifies the culmination of a long-standing partnership between Endeavor and WWE, which has spanned strategic initiatives such as talent representation and media rights. With our collaborative and trusted relationship and Endeavor's impressive track record in nurturing UFC's growth, we believe WWE is strategically positioned for future expansion and prosperity as an integral part of TKO. Our unwavering focus remains on delivering exceptional experiences to our dedicated global fan base as we elevate our business alongside UFC and Endeavor.”

Starting today, TKO will commence trading on the New York Stock Exchange under the ticker symbol “TKO.” Endeavor will hold a 51% controlling interest in the newly formed company, while existing WWE shareholders will retain a 49% interest in the company, based on a fully diluted basis.

 

Source: businesswire.com

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