In an unprecedented move, Endeavor (NYSE: EDR) has confirmed its merger of the Ultimate Fighting Championship (UFC) with World Wrestling Entertainment (WWE) (NYSE: WWE), forming a powerhouse entity in the world of combat sports and entertainment. The colossal $22 billion deal has the entire sports world talking, as two of the biggest names in the industry join forces.
In an exclusive interview, Scott Wapner of CNBC spoke with Endeavor CEO Ari Emanuel and WWE's Vince McMahon about the groundbreaking merger and its implications for both companies. The most significant question on everyone's mind was the role that McMahon would play in the newly-formed company.
Vince McMahon, the legendary figure behind WWE and son of its founder, surprised many by expressing his excitement for the merger and his commitment to the company's future. When asked about his emotions on parting with the business his father founded in 1953, McMahon stated, "Things have to evolve. Family business, it all has to evolve for all the right reasons. And this is the right business decision thus far, the right family decision."
Emanuel, who will become the CEO of the new company, made it clear that he wanted McMahon to stay on board. He called McMahon a cable television pioneer and a visionary, lauding him for his 50-year career in the business. Ari Emanuel's decision to keep McMahon on board is likely based on the belief that the WWE is more valuable with McMahon at the helm than without.
As for the future of the company and its upcoming rights renewals, it's clear that the merged entity will command top dollar. With deals expiring with both NBCUniversal and Fox next year, negotiations will begin in earnest to secure lucrative contracts. The addition of streaming services to the mix only adds to the intrigue of the upcoming negotiations.
This merger marks a new era for both the UFC and WWE, promising to bring an unparalleled level of excitement and entertainment to fans worldwide. With Ari Emanuel and Vince McMahon leading the charge, there's no doubt that this game-changing deal will shape the future of combat sports and the entertainment industry for years to come.
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