The post WWE and UFC Parent Company Endeavor Announce a Merger appeared first on theprimarymarket.com.
]]>According to the announcement, the newly-formed company will trade on the New York Stock exchange under the ticker symbol $TKO. Ariel Emanuel, CEO of Endeavor, will assume the CEO position, while WWE majority owner Vince McMahon will take on the Executive Chairman of the Board role. Endeavor will appoint six names for the 11-members board of directors while the WWE will select the remaining five.
“This is a rare opportunity to create a global live sports and entertainment pureplay built for where the industry is headed,” Emanuel said in a statement.
The merger is expected to be officially completed by the end of this year. The two companies expect to save between $50 million and $100 million in costs after all is said and done.
WWE stock plunged around 6% in the premarket trading following the announcement, while Endeavor’s shares jumped by 7% at one point.
The post WWE and UFC Parent Company Endeavor Announce a Merger appeared first on theprimarymarket.com.
]]>The post WWE and UFC Parent Company Endeavor Announce a Merger appeared first on theprimarymarket.com.
]]>According to the announcement, the newly-formed company will trade on the New York Stock exchange under the ticker symbol $TKO. Ariel Emanuel, CEO of Endeavor, will assume the CEO position, while WWE majority owner Vince McMahon will take on the Executive Chairman of the Board role. Endeavor will appoint six names for the 11-members board of directors while the WWE will select the remaining five.
“This is a rare opportunity to create a global live sports and entertainment pureplay built for where the industry is headed,” Emanuel said in a statement.
The merger is expected to be officially completed by the end of this year. The two companies expect to save between $50 million and $100 million in costs after all is said and done.
WWE stock plunged around 6% in the premarket trading following the announcement, while Endeavor’s shares jumped by 7% at one point.
The post WWE and UFC Parent Company Endeavor Announce a Merger appeared first on theprimarymarket.com.
]]>