TKO Group Holdings is the brand new firm containing each WWE and the UFC, with inventory formally in the stores as of this morning. Along with a photograph of the championship show exterior the New York Inventory Alternate constructing this morning, immediately’s opening bell featured a brief ceremony (by way of YouTube) together with TKO CEO Ari Emanuel, WWE’s Nick Khan, Vince McMahon, and Paul “Triple H” Levesque, UFC’s Dana White, and extra. WWE star Bianca Belair and UFC Corridor of Famer Daniel Cormier have been additionally in attendance.
The group celebrated the merger to the applause of the inventory flooring because the bell rang, signifying that commerce was starting for the day. The inventory value for TKO Group Holdings began this morning at round $102 per share, however as of this writing has risen to just about $104. Buyers who owned WWE inventory at shut yesterday have had their shares traded into an equal quantity of TKO shares mechanically.
As for what the merger means for the way forward for WWE, it is troublesome to say with certainty. McMahon is Government Chairman of the brand new firm, whereas Levesque stays head of artistic. Nevertheless, with Emanuel and the remainder of Endeavor proudly owning a majority stake in TKO, they may have a possibility to alter issues as they see match going ahead primarily based on what they really feel is greatest for shareholders.
The TKO Board of Administrators contains McMahon, Emanuel, Endeavor President Mark Shapiro, WWE President Khan, and 7 different executives. It appears one of many first massive adjustments the brand new infrastructure may oversee is a brand new TV rights deal for “WWE SmackDown,” with rumors persevering with to emerge indicating that Fox is unlikely to resume. That story ought to progress over the subsequent few months as negotiations proceed.
