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Message: <blockquote data-quote="Truth Hurts" data-source="post: 28748400" data-attributes="member: 477372"><img src="https://i.imgur.com/D6sgHEC.jpeg" alt="" class="fr-fic fr-dii fr-draggable " style="" />Vince McMahon's <a href="https://www.cnbc.com/quotes/WWE" target="_blank">World Wrestling Entertainment</a> has agreed to merge with UFC to form a new publicly traded company controlled by <a href="https://www.cnbc.com/quotes/EDR" target="_blank">Endeavor Group</a>, the companies announced Monday morning.Endeavor will own a 51% stake in the new combat sports and entertainment company, while WWE shareholders will have the remaining 49%, according to the terms of the agreement. The deal values WWE at $9.3 billion and UFC, which is owned by Endeavor, at $12.1 billion, the companies said <a href="https://www.sec.gov/Archives/edgar/data/1766363/000119312523088864/d491004dex991.htm" target="_blank">in a press release</a>.The transaction is expected to close in the second half of 2023. Shares of WWE fell more than 2% and Endeavor declined over 5% on Monday.Ari Emanuel will act as chief executive of both Endeavor and the new company, the companies said. McMahon, likewise, will be executive chairman, while Endeavor President and COO Mark Shapiro will also work in the same roles at the new company. Dana White will remain as president of UFC, and WWE CEO Nick Khan will stay on as president of the wrestling business."This is going to be UFC 2.0," Emanuel said in an interview that aired Monday on CNBC's "<a href="https://www.cnbc.com/squawk-on-the-street/" target="_blank">Squawk on the Street</a>."The board will consist of 11 people, six appointed by Endeavor and five by WWE. The merged company's name will be announced at a later time. The company will trade on the New York Stock Exchange under the ticker symbol TKO.<a href="https://www.cnbc.com/2023/04/03/wwe-ufc-merger-endeavor.html" target="_blank">https://www.cnbc.com/2023/04/03/wwe-ufc-merger-endeavor.html</a></blockquote>

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