Q2 Kickoff, Oil Surges on Surprise OPEC+ Cut, Ari Emanuel and Vince McMahon on Endeavor-WWE deal 4/3/23
Squawk on the Street
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Endeavour Wins Battle Royal for WWE
Endeavour will merge its UFC brand with the WWE forming a new company that will eventually go public on the New York Stock Exchange. The transaction values the entity at some $21 billion, $12 billion for the UFC, $9.3 billion for the WWE. That is a substantial premium over WWE's current $6.5 billion market cap. After the deal closes expected in the fourth quarter, Endeavour will hold a 51% controlling interest in the new enterprise while existing WWE shareholders will hold a 49% interest.
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