BEVERLY HILLS, Calif. -- Endeavor Group Holdings, the parent company of Ultimate Fighting Championship , and World Wrestling Entertainment have agreed to a merger.
The new company will be led by Ariel Emanuel, who will serve as CEO while also continuing his current role as CEO of Endeavor. Vincent McMahon, executive chairman of WWE, will serve as the executive chairman of the board, which will consist of 11 members – six appointed by Endeavor, five appointed by WWE – to be named at a later date. Mark Shapiro will serve as president and COO of the new company.
“Given the incredible work that Ari and Endeavor have done to grow the UFC brand – nearly doubling its revenue over the past seven years – and the immense success we’ve already had in partnering with their team on a number of ventures, I believe that this is without a doubt the best outcome for our shareholders and other stakeholders,” Vincent McMahon, executive chairman of WWE, said in the release.