As noted before, WWE announced this past April that they have entered an agreement to sell their company to Endeavor, who is the parent company of UFC. As part of the terms of the deal, WWE and UFC will be merging into a new currently unnamed company.
CNBC’s Alex Sherman reported that his sources stated that WWE and UFC’s upcoming merged company will be named TKO Group Holdings.
Endeavor and WWE had previously announced that this new merged company would trade under the ticker of TKO on the stock market which Sherman confirmed will be its ticker name for the New York Stock Exchange.
Sherman reported that both Endeavor and WWE are currently aiming for this new merged company to have a value of $20 billion, which will be determined once public trading of its stocks officially starts.
Sherman also reported that WWE’s purchase to Endeavor is currently expected to close in the second half of this year.
In regards to UFC and WWE, Sherman also reported that both companies will retain their respective names as part of this new merged company.
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