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World Wrestling Entertainment (WWE) have merged with Endeavor, the parent of the Ultimate Fighting Championship (UFC).
In a statement released April 3, Endeavor confirmed that they have to terms with buying 51% of the WWE, a contact and non-contact sports, and will form a new publicly traded company as part of the merger agreement.
The transaction agreement signed on Monday values the enterprise at $9.3 billion.
“Upon close, Endeavor will hold a 51% controlling interest in the new company, and existing WWE shareholders will hold a 49% interest in the new company.
“Together, UFC and WWE will have global reach, impressive scale and omnichannel distribution.
On a combined 2022 fiscal year-end basis, UFC and WWE achieved revenue of $2.4 billion and a 10% annual revenue growth rate since 2019."
WWE which is also part of the contact and non-contact sport recently concluded the 39th edition of its annual two-day WrestleMania event in Hollywood, with legendary rapper Snoop Dogg co-hosting the event with The Miz.
Among the big winners of the event included Roman Reigns retaining his Undisputed Universal Championship against Cody Rhodes in a controversial bout while Kevin Owens and Sami Zayn defeated The Usos to win the Undisputed Tag Team Championship.
The merger now leaves WWE fans anticipating how professional wrestling will evolve going forward.
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