UFC owner Endeavor and WWE set for major merger

UFC and WWE will merge under one name after the former's parent group Endeavor confirmed they would combine with the latter in a deal worth $21billion.

The two companies will form a new, publicly listed organisation, uniting them under one banner, with Endeavor set for a 51% controlling interest and existing WWE shareholders at 49%.

The news comes in the wake of WWE's latest edition of flagship event WrestleMania and will see a significant shake-up among key personnel.

Endeavor CEO Ari Emanuel, who will expand his position while WWE majority owner Vince McMahon becomes executive chairman, believes both organisations can grow from their unification.

He said: "This is a rare opportunity to create a global live sports and entertainment pureplay built for where the industry is headed.

"For decades, Vince and his team have demonstrated an incredible track record of innovation and shareholder value creation.

"We are confident that Endeavor can deliver significant additional value for shareholders by bringing UFC and WWE together."

McMahon, who stepped down as WWE CEO last year, echoed his colleague's sentiments, adding that he thinks the merger is "without a doubt the best outcome for our shareholders and other stakeholders".

He said: "Together, we will be a $21bn-plus live sports and entertainment powerhouse with a collective fanbase of more than a billion people and an exciting growth opportunity.

"I, along with the current WWE management team, look forward to working closely with Ari and the Endeavor and UFC teams to take the businesses to the next level."

Nick Khan will be president of the WWE brand, while Dana White will continue in his role as UFC president.