It was officially announced today that Endeavor will acquire WWE with the idea of merging the company with the UFC to form a new publicly traded combat sports company.
Vince McMahon stated in the press release that it was “the best outcome for our shareholders and other stakeholders.”
WWE Chief Content Officer Triple H and WWE CEO Nick Khan led a talent meeting before tonight’s WWE RAW After Mania event. McMahon also sent out a message to employees before the meeting regarding the sale of the company.
Khan opened the meeting by reading an email from McMahon that was sent out earlier. The WWE Board of Directors approving the merger was mentioned. Riddick noted it was signed, and they are now preparing the SEC and regulatory filings. He believes the deal will close this year.
Triple H thanked the employees for their dedication and passion. He praised them for helping the company get to this point and put over Endeavor as a company, noting they did not get involved in the UFC’s day-to-day business and operations when they acquired that company. He said they wouldn’t be getting involved in the WWE creative process, with talents or production.
Triple H said it was nothing but a positive move for everyone involved and that it’s “business as usual” going forward.
It was also noted that they are putting together the transition team that will lead the process of Endeavor taking over WWE. The meeting ended with Khan making a joke about McMahon’s mustache.
WWE Talent Meeting
At Monday’s Raw, a talent meeting was held that was led by Khan and Triple H. They put over the success of WrestleMania 39, touting the record-breaking WrestleMania numbers. They said nothing would change under Endeavor.
McMahon was mentioned a few times when they listed the names of people in control. They did not take questions during the meeting.
Vince McMahon’s Email To Talent & Employees
On a related note, it was previously reported that McMahon sent an e-mail to employees this morning following the announcement of the UFC-WWE merger with Endeavor. Thanks to Wrestlenomics, you can now read the entire letter below:
I’m excited to announce that WWE has entered into a partnership with Endeavor to create a one-of-a-kind company that will bring together two global sports and entertainment powerhouses: WWE and UFC.
The historic alliance of these two formidable institutions has the potential to unlock vast growth opportunities for both organizations and generate opportunities for both organizations and generate an optimal outcome for our employees, shareholders, fans, and other stakeholders. We are huge admirers of the work Endeavor has done to grow the UFC brand, and they will be the perfect partner to help supercharge our growth at WWE.
We are on the cusp of a new golden age for live sports entertainment, and by combining our two iconic and highly complementary properties under one roof, we will be able to fully capitalize on the rapidly expanding, global appetite for live sports events and premium content. We have some of the most engaged, passionate, and fast-growing fan bases in sports, and we are two of the only leagues capable of delivering content and events year-round.
Together, we are a $21+ billion live sports and entertainment colossus with a collective fan base of more than two billion people — and counting. With our decades of combined experience, complementary expertise, ,and pooled resources, we intended to create and cross-promote more premium live and on-demand content around the world.
As for how this impacts you, following the close of the transaction, we expect to continue to operate largely as we do now. Both WWE and UFC will become wholly owned subsidiaries of the new company but retain our separate brands, as well as our leadership teams and headquarters. I will serve as Executive Chairman of the Board, while Ari Emanuel will become the CEO of the new company and remain CEO of Endeavor. Mark Shapiro will become President of the new company and also retain his role as President of Endeavor. Nick Khan will serve as WWE President, and Dana White will continue in his role as UFC President. Paul Levesque will remain WWE’s chief content executive.
As of now, we expect the transaction to conclude later this year. In the meantime, it is business as usual here, and this news has no immediate impact on your day-to-day roles or responsibilities.
Nick, along with Paul, Frank, Brad and Maurice, will host an all-employee meeting today at 4:00p ET to provide additional details.
I want to close by expressing my sincere and heartfelt gratitude to you all. We are coming off the most successful WrestleMania of all time and that’s a testmane to your commitment and ability ot execute 52 weeks a year. I can’t wait to work with all of you on building this exciting next chapter for WWE.
Then. Now. Forever. Together.
Stay tuned to WrestlingRadar.com for more updates on this developing story.