WWE/UFC merged to TKO Holdings

[Chris]

The acquisition of WWE by Endeavor is expected to be finalized next month.

Endeavor announced today during their Q2 earnings release that their acquisition of WWE is expected to close in mid-to-late September. The company had previously announced that the deal was expected to conclude sometime during the second half of the year. Upon completion, Endeavor plans to merge WWE and UFC into one public company called TKO Group Holdings Inc.

Brandon Thurston reported that on the phone call to investors, Endeavor CEO Ari Emanuel noted that there were plans on making cost savings and synergies happen immediately upon the deal closing.

Endeavor announced the acquisition of WWE back in early April during WrestleMania weekend. Vince McMahon, who retired from WWE last year, forced himself back in power in January with the intention of facilitating a sale of the company. Once the acquisition is complete, McMahon will serve as the executive chairman of TKO Holdings.

In WWE’s Q2 earnings report, it was noted that McMahon was recently served with a federal search warrant and grand jury subpoena regarding hush money payments to women that led to his retirement last year.

https://www.f4wonline.com/news/wwe/endeavor-expects-wwe-ufc-merger-to-be-finalized-in-mid-to-late-september

 

[Chris]

The WWE-UFC merger is expected to be finalized next week.

Endeavor and WWE announced today that the deal for Endeavor to purchase WWE and merge the company with UFC to create TKO Group Holdings is expected to close on September 12.

From today's press release:

BEVERLY HILLS, Calif. & STAMFORD, Conn.--(BUSINESS WIRE)--Endeavor Group Holdings, Inc. (NYSE: EDR) (“Endeavor”) and World Wrestling Entertainment, Inc. (NYSE: WWE) (“WWE”) today announced they expect to close the previously announced transaction to form TKO Group Holdings, Inc. (“TKO”) on September 12, 2023, at which time TKO will begin trading on the New York Stock Exchange under the ticker symbol “TKO”.

Endeavor revealed in their Q2 earnings release last month that they expected the deal to close mid to late September.

Layoffs of company employees are widely expected in the wake of the deal closing. Endeavor CEO Ari Emanuel has stated there are plans for "cost savings and synergies" resulting from the merger.

A filing with the Securities and Exchange Commission on August 10 revealed ten of the eleven board members for TKO Group Holdings. Vincent K. McMahon (WWE), Ariel Emmanuel (Endeavor), Egon P. Durban (Endeavor), Nick Khan (WWE), Steven R. Koonin (WWE), Jonathan A. Kraft (Endeavor), Sonya E. Medina (Endeavor), Mark Shapiro (Endeavor), Nancy R. Tellem (WWE), Carrie Wheeler (Endeavor), were the names listed in the filing.

https://www.f4wonline.com/news/wwe/wwe-endeavor-deal-expected-to-close-next-week

 

[Sky]

A lot more talking about releases now that the deal is close to done... Worrying times for the low carders

 

[Hidden Blaze]

A lot more talking about releases now that the deal is close to done... Worrying times for the low carders

Not that I’m doubting you, but where did you see this at? I’d like to at least see who’s the source of the news.

 

[Sky]

Not that I’m doubting you, but where did you see this at? I’d like to at least see who’s the source of the news.

No real source, just rumours swirling around. Though I would be surprised if there weren't some cuts

 

[Hidden Blaze]

No real source, just rumours swirling around. Though I would be surprised if there weren't some cuts

Well I hope not, but I guess we just have to wait and see

 

[Sky]

HULU STATES THEIR WWE STREAMING RIGHTS ARE 'SET TO EXPIRE' | PWInsider.com

pwinsider.com

Worth noting that PWInsider reported "up to 10" talent cuts and then deleted the article... maybe premature

 

[Butters]

I hope they sign CM Punk just to release him on his wedding anniversary.

 

[John McHenry]

I've read multiple places about being worried for releases. I'd guess sportskeedia that's where I get most of my news. Though to me it seemed to imply more office staff and duplicate positions than talent. Though I'm sure some low carders will be let go. We never got our post mania cuts.

 

[Canadian Dragon]

I would avoid sportskeeda they kind clickbait farmin. Both Meltzer and SRS have said they havent heard anything about roster cuts. But you never know and I wouldn't be shocked at certain talent not being renewed. they seem to be going in that direction more lately

 

[John McHenry]

I would avoid sportskeeda they kind clickbait farmin. Both Meltzer and SRS have said they havent heard anything about roster cuts. But you never know and I wouldn't be shocked at certain talent not being renewed. they seem to be going in that direction more lately

They seem to site Metzler and SRS a lot so I always saw it as an all in one location.

 

[Storm Trooper]

They seem to site Metzler and SRS a lot so I always saw it as an all in one location.

I'm pretty sure most of the time those places cite them and half the time they just made shit up.


Endeavor has all but admitted there will be office layoffs, butt hat's to be expected when there's a merger and you don't need 2 full sets of office staff. Talent cuts I feel are not as likely but I would think as Jeff said they may not automatically renew peolpe when their contract expires.

 

[John McHenry]

I'm pretty sure most of the time those places cite them and half the time they just made shit up.


Endeavor has all but admitted there will be office layoffs, butt hat's to be expected when there's a merger and you don't need 2 full sets of office staff. Talent cuts I feel are not as likely but I would think as Jeff said they may not automatically renew peolpe when their contract expires.

If they do cut talent I assume it'll be most of Triple H's rehires, they've all kinda gone nowhere.

 

[Storm Trooper]

If they do cut talent I assume it'll be most of Triple H's rehires, they've all kinda gone nowhere.

I don't think so. Those people are doing what they were brought in to do. Most of these peolpe were brought in to be depth and that's what they're doing.

I'd think the only cuts we're gonna see for a while would be NXT cuts of people that are not panning out.

 

[Canadian Dragon]

First test will be drew