During their Q2 2023 earnings results conference call with investors, Endeavor announced that their acquisition of WWE is expected to wrap up towards mid-to-late September.
Once completed, Endeavor will create TKO Holdings Inc., a company valued at $21 billion combining WWE and UFC. The group, whose Executive Chairman will be Vince McMahon, will trade on the New York Stock Exchange under the TKO symbol. Anyone owning WWE stock will be transferred to the new stock.
Endeavor CEO Ari Emanuel, the brains behind the whole operation and who will also serve as the boss of TKO, said that once the merger is complete, there will be several cost-savings cuts which will happen immediately.
WWE will still operate from their brand new corporate headquarters in downtown Stamford, Connecticut, but many jobs will be lost as certain departments will start doing the work for both. WWE employs over 700 people.