World Wrestling Entertainment reportedly close to sale to Endeavor
Apr. 02, 2023 4:42 PM ETWorld Wrestling Entertainment, Inc. (WWE), EDRBy: Jason Aycock, SA News Editor1 Comment
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- World Wrestling Entertainment (NYSE:WWE) is reportedly closing in on a deal to be sold to talent-agency company Endeavor Group Holdings (NYSE:EDR), already the parent of mixed martial arts league Ultimate Fighting Championship.
- The sale is in advanced talks, CNBC reported, and it could be announced as soon as Monday.
- It would result in a new publicly traded company focused on combat sports and entertainment, according to the report, and Endeavor would own 51% while WWE holders would own 49%.
- The proposed transaction would reportedly assign WWE an enterprise value of $9.3B. WWE has a market capitalization of about $6.8B.
- It would also mean the end of Vince McMahon's control of WWE after several decades.
- Recent weeks have brought increasing sale speculation and WWE CEO Nick Khan said last week the company had seen "robust" interest.