The day after Wrestlemania, Endeavor acquired WWE making it the second biggest purchase this year. The plan was to have WWE and UFC combine to make one new company, TKO Holdings. The deal gave WWE an enterprise value of $9.3 billion. Endeavor would own 51% and WWE owned the remaining 49%. From our writeup in […]
WWE
Lawsuit challenges WWE sale
The Hollywood Reporter first reported a class action lawsuit filed on behalf of WWE shareholders against Vince McMahon and the board of directors of the company for its sale to Endeavor which created TKO Group Holdings, Inc. The lawsuit, filed on November 22nd, was filed in the Court of Chancery of the State of Delaware. […]
CM Punk returns to WWE
CM Punk’s absence from professional wrestling is over as he returned to the WWE at the end of its premium live event, Survivor Series, in Chicago. According to reports and Paul Levesque in the post-fight scrum the return was kept under wraps with only Triple H and Nick Khan knowing until the end of the […]
McMahon selling $700M of TKO stock
According to a regulatory filing with the SEC, Vince McMahon is selling 8.4 million shares in TKO. The news comes two days after the company announced earnings for the first time since the WWE and UFC merger. The value of the stock is estimated at $700M per The Hollywood Reporter and is just 25% of […]
Smackdown moves to USA Network in new pact with NBCUniversal
Friday Night Smackdown will return to the USA Network in October 2024 after a new media deal was announced on Thursday with NBC Universal. The contract is reportedly a 5 year deal worth $1.4 billion per the WSJ. The new deal represents a 40% jump from its last deal with Fox. The incumbent appeared to […]