Endeavor in talks to buy World Wresting Entertainment -sources

Endeavor Group Holdings, the parent company of UFC, is in talks to acquire World Wrestling Entertainment in a deal made up entirely of stock, according to sources close to the matter. The deal could be announced as early as Monday, according to insiders, with Endeavor holding 51% of the newly combined company’s shares and WWE shareholders holding the remaining 49%. Both companies have yet to comment.

Endeavor’s market value currently stands at $11.3bn, while WWE has a market capitalisation of $6.8bn after shares soared over 30% in 2021. Endeavor is helmed by Hollywood executive Ari Emanuel, who has spearheaded over 20 acquisitions as part of an effort to transform the company into a sports and entertainment powerhouse. Endeavor previously bought a majority stake in the UFC, which was valued at $4.2bn in 2016.

WWE had previously said it was exploring strategic options, including a possible sale, just after the return of Vince McMahon following an investigation into alleged misconduct. McMahon made a push to renegotiate contracts for WWE’s media rights, such as “SmackDown,” before a possible sale.

Both companies are yet to comment on the possible acquisition.